President Joe Biden was being compared to Anchorman’s Ron Burgundy – known for reading the teleprompter verbatim – when he said ‘end of quote’ in a speech Tuesday.
Biden gave remarks before departing for Thanksgiving vacation, where he sought to reassure Americans about rising gas prices, supply chain issues, and the availability of holiday presents.
‘And, by the way, you may have heard the CEO of Walmart yesterday on the steps we’ve taken. He said, and I quote, “The combination of private enterprise and government working together has been really successful,”‘ the president said.
‘He went on to say, “All the way through the supply chain there’s a lot of innovation, because of the actions we’ve taken things have begun to change,” end of quote,’ Biden added.
While Biden has used similar language in the past to indicate that he’s quoting someone else – especially after a plagiarism speech scandal knocked him out of the 1988 presidential race – The right-wing Daily Caller, Politico and other outlets compared the president to Burgundy, who famously uttered the near-career-ending phrase, ‘go f**k yourself, San Diego,’ when it was entered in the prompter.
President Joe Biden was being compared to Anchorman’s Ron Burgundy – known for reading the teleprompter verbatim – when he said ‘end of quote’ in a speech Tuesday
Will Ferrell’s Ron Burgundy (left) was known for reading the teleprompter verbatim and famously uttered the near-career-ending phrase, ‘go f**k yourself, San Diego,’ when it was entered in the prompter
Biden once again sought to speak to reassure Americans who are focused on inflation or worried about the state of the economy – referencing mothers and fathers who are ‘asking will there be enough food we can afford to buy for the holidays. Will we be able to get Christmas presents to the kids on time and if so, will they cost me an arm and a leg?’
He made sure to show he is in tune to concerns about gas prices – including on the West Coast where they face high taxes.
‘Right now, I will do what needs to be done to reduce the price you pay at the pump,’ he said, touting a new action to release 50 million gallons from a strategic petroleum reserve.
‘Families can rest easy – grocery stores are well-stocked with turkey and everything else you need for Thanksgiving,’ he said.
He also spoke to supply chain issues, mentioning meetings with Walmart, Target, Home Depot, and other retailers.
He cited a 33 per cent drop in the time container ships were sitting on docks and said major retailers ‘have confirmed that their shelves will be well stocked in stores this holiday season.’ He called it ‘good news’ for parents worried about whether ‘everything from ‘bicycles to ice skates’ will be available.
Biden spoke for more than 11 minutes – but once again did not take questions from White House reporters.
The White House took other steps to make reporters comfortable – piping in jazz standards by Dexter Gordon and Dave Brubeck to an auditorium on the White House grounds while they awaited his remarks.
A changeable set constructed on stage featured rotating images of electric vehicles, including the Chevy Volt.
Biden declined to take questions following the event
He reassured Americans that Thanksgiving food would be available on store shelves, and that supply chain problems were improving
When he concluded his remarks, reporters shouted out questions about the tragedy in Waukesha, inflation, and other topics.
Steve Portnoy of CBS radio, who chairs the White House Correspondents’ Association, yelled out: ‘When will you tell us what you discussed with Xi Jinping and other leaders? When will you answer our questions, sir?’
Biden held a three-hour digital summit with the Chinese president last week.
Instead, Biden walked away from the press following reporters and videographers who were there for his remarks. His press secretary, Jen Psaki, fielded questions later from the Brady briefing room along with Energy Secretary Jennifer Granholm.
Biden announced the ‘largest ever’ release of oil from the U.S. Strategic Petroleum Reserve with 50 million barrels as Americans pay premium prices for a gallon of gas and Republicans slam the move as just a ‘band-aid.’
‘The bottom line – today we’re launching a major effort to moderate the price of oil,’ Biden said from the White House. ‘An effort that will span the globe and ultimately reach your corner gas station, God willing.’
‘You should see the price of gas drop where you fill up your time,’ he assured. ‘And in the longer term we will reduce our reliance on oil as we shift to clean energy. But right now, I will do what needs to be done to reduce the price you pay at the pump.’
The average price of a gallon of gas in the U.S. sits around $3.40 as of Tuesday. Biden listed times when he was vice president when the prices were higher – like in 2012 when it was at $3.90 per gallon and in 2014 when it was at $3.69.
He also noted that the prices surpassed $3.00 in many places in 2019, when Donald Trump was president.
‘The fact is we always get through those spikes, but we’re going to get through this one as well – and hopefully faster,’ he said. ‘But It doesn’t mean we should stand by idly and wait for prices to drop on their own. Instead, we’re taking action.’
But Republican lawmakers say that this measure is only a short term fix that will not help decrease prices at the pump in the long run. Instead, they are urging the president to tap ramp up U.S. production of natural resources.
His actions on the Strategic Petroleum Reserve are meant to lower soaring prices Americans are paying at the pumps
Biden is working with India, South Korea, China, and Japan to tap from their resources after OPEC+ nations in the Middle East rebuffed his pleas to pump more oil.
It is a dramatic move that hasn’t been used since the aftermath of Hurricane Katrina, experts believe it is just a short-term fix to the soaring costs and Republicans said Biden was trying to desperately fix an emergency he has created.
Even Democratic Senator Joe Manchin, chairman of the Energy and Natural Resources Committee, slammed the move as a ‘Band-Aid for rising gas prices but does not solve for the self-inflicted wound that shortsighted energy policy is having on our nation.’
Biden is taking oil from the reserve, which has 604.5 million total barrels across four sites in Louisiana and Texas, with gas prices at a seven-year-high, inflation hitting historic records and America facing a winter heating crisis.
Oil prices rose towards $81 a barrel on Tuesday morning after the announcement to try to and cool the market falling short of some expectations. Americans will likely not see a change in prices at the pump for at least another two weeks.
Presidents typically tap oil reserves when emergencies or natural disasters disrupt the supply chain, although more recently have even tapped them to keep prices in check from time to time.
The last time that the oil reserve was tapped in the U.S. was as oil prices surged in the aftermath of Hurricane Katrina. At the time, then-President George Bush ordered 30 million barrels be released.
The average price of gasoline recently breached a seven-year high, and now costs $3.409 per gallon, according to AAA. In California, residents have reported paying up to $4.84 a gallon.
The Consumer Price Index is up 6.2 per cent over last year, and rose 0.9 per cent in October alone, tanking public trust in the president.
Following a presidential announcement for the release of oil, it usually takes 13 days to hit the market, according to the Energy Department.
Experts have predicted it could take two weeks for the prices to start dropping, but have also warned it is not a long-term solution because it doesn’t solve supply and demand problems in the aftermath of the pandemic.
Biden will formally announce the move to release reserve oil in a speech on Tuesday afternoon aimed at addressing the economy and lowering prices. Later Tuesday evening the president and first lady will leave Washington, D.C. to spend Thanksgiving with family in Nantucket, Massachusetts.
President Biden is authorizing the release of 50 million barrels of oil from the Strategic Petroleum Reserve in a bid to lower soaring prices Americans are paying at the pumps, The White House announced on Tuesday
The average price of gasoline recently breached a seven-year high, and now costs $3.409 per gallon, according to AAA. In California, residents have reported paying up to $4.84 a gallon
Prices for a gallon of gas are highest in west coast states and in the North East, according to AAA. They are lowest in south central states like Florida, Louisiana and Mississippi where prices range from $2.97 – $3.15
‘American consumers are feeling the impact of elevated gas prices at the pump and in their home heating bills, and American businesses are, too, because oil supply has not kept up with demand as the global economy emerges from the pandemic,’ The White House said in a statement released Friday morning.
‘That’s why President Biden is using every tool available to him to work to lower prices and address the lack of supply.
‘Today, the President is announcing that the Department of Energy will make available releases of 50 million barrels of oil from the Strategic Petroleum Reserve to lower prices for Americans and address the mismatch between demand exiting the pandemic and supply.’
Eighteen million barrels will be part of an accelerated release from previous sales and 32 million will be released as an exchange to be ‘replenished’ at a later date, the White House said.
Biden has already faced a lot of criticism over revoking a key permit upon taking office in January that suspended construction of the Keystone XL Pipeline. His administration has also threatened to close the Michigan Five Pipeline.
Republicans immediately weighed in on the announcement of tapping the reserve, claiming this emergency measure should be taken during war time.
Former President Donald Trump called it an ‘attack’ on the oil reserve.
‘For decades our Country’s very important Strategic Oil Reserves were low or virtually empty in that no President wanted to pay the price of filling them up. I filled them up three years ago, right to the top, when oil prices were very low,’ Trump praised his administration in a statement Tuesday morning.
‘Those reserves are meant to be used for serious emergencies, like war, and nothing else,’ he wrote. ‘Now I understand that Joe Biden will be announcing an ‘attack’ on the newly brimming Strategic Oil Reserves so that he could get the close to record-setting high oil prices artificially lowered.’
‘We were energy independent one year ago, now we are at the mercy of OPEC, gasoline is selling for $7 in parts of California, going up all over the Country, and they are taking oil from our Strategic Reserves. Is this any way to run a Country?’
It appears Trump’s claim that he helped add to the reserve during his time as president is not true.
According to the U.S. Energy Information Administration, the national Strategic Petroleum Reserve stockpile went from 695 million barrels in January 2017 to 638 million in January 2021 – the same timeline Trump entered and left office.
Gas prices are surging nationwide – reaching some of the highest levels in California. A Chevron stations shows a gallon of gas at $5.09 in Visalia, California on November 16 (left) and a SevenEleven shows the price per gallon at $3.33 in Miami, Florida on November 22 (right)
Senator Cindy Hyde-Smith of Mississippi tweeted: ‘[Biden] tapping the Strategic Petroleum Reserve (which is meant for emergencies) is a short-sighted & inadequate action to address Biden-caused record spikes at gas pumps.’
‘To truly help our nation, the @WhiteHouse needs to reverse the policies that put our energy security at risk,’ she urged.
Arkansas Senator John Boozman and Louisiana Senator Bill Cassidy shared that stance.
‘Instead of begging OPEC to increase production or tapping into our strategic petroleum reserves we should be increasing our domestic energy production,’ Boozman tweeted Tuesday. ‘Americans are paying more for gas and heating fuel, up to 30% higher this winter. It will be a colder Thanksgiving for too many.’
Cassidy wrote: ‘The best way to lower gas prices is to continually invest in the U.S. energy industry so we don’t have to import energy from other countries when there is a supply shortage. Americans need long-term solutions to skyrocketing gas prices, not a band-aid fix.’
Senator Lindsey Graham tweeted: ‘The Democratic brand is suffering from the reality of a Biden presidency and a Democrat-controlled Congress.’
‘When people hear Democrat, people think of high gas prices, empty shelves, broken borders, and the heartbreak of Afghanistan,’ the South Carolina Republican added in his criticism of the Biden administration.
A group of 33 House Republicans sent a letter to Biden and Energy Secretary Jennifer Granholm proposing an alternative strategy of increasing the country’s oil production rather than tap the emergency reserves.
‘There is no reason to use our country’s safety net to bail out President Biden’s failed policies and poor planning,’ the letter reads. ‘Rather, it would be in our best interest to reopen oil and gas production on federal lands, which would equate to a 20% increase in our domestic oil production.’
‘If we were to withdraw reserves from the SPR that are currently priced at $29/per barrel and forced to replace them at a cost of over $80/per barrel (and growing), we would be creating another economic nightmare for taxpayers,’ they explained.
The letter continued: ‘Higher gas prices hurt the American public. Encouraging domestic oil and gas production helps to create American jobs, energy independence from Russia and the Middle East, and cheaper visits to the pump.’
‘Resorting to withdrawals from the SPR only postpones reality and creates larger economic concerns for the future. At a time when we will undoubtably have harsh winter storms and hurricanes, along with an uncertain global geopolitical environment, future withdrawals from the SPR may be urgently needed.’
‘We must ensure the SPR is fully stocked and able to protect Americans the way it was intended to,’ they pleaded.
GOP Representative Bob Gibbs’ spokesperson told DailyMail.com: ‘The President’s decision to tap into the strategic petroleum reserve is just a band-aid on a gaping wound caused by his anti-energy policies that are killing domestic energy production.’
‘Long-term price stability can only be guaranteed by a stable and affordable domestic energy supply,’ they continued. ‘It’s reprehensible that the Biden administration has killed thousands of American energy jobs but goes, hat in hand, to nations that include adversaries and begs them to increase production.’
‘Asking ‘Pretty, please’ is not a responsible energy policy. We wouldn’t have to tap our emergency reserves or beg OPEC if President Biden hadn’t allied himself with socialist anti-energy activists.’
Georgia Representative Buddy Carter tweeted on Monday: ‘Biden is slapping a bandaid on our energy crisis. We need POLICY changes, not a few extra barrels of oil to hold us over.’
Rystad Energy, an independent energy research and business intelligence company, called the move ‘anti-OPEC+’.
‘Today marks an official emergence of an ‘anti-OPEC+’, a group of top oil-consuming countries that are taking the supply-side dynamics into their own hands in the unconventional and unprecedented release of strategic petroleum reserves to create artificial looseness in the oil market and deliver a negative blow to oil prices,’ the company’s Senior Oil Markets Analyst Louise Dickson said.
‘The orchestrated supply-side via SPRs is a last ditch effort after the US was unsuccessful [in] influencing OPEC+ to release supply, an ongoing call since August,’ Dickson continued. ‘The supply side support is intended to quell oil prices and keep pandemic GDP recovery on track, especially amid the backdrop of an increasingly inflationary macro environment.’
‘The White House didn’t provide a chartered schedule for the release, but some of the barrels will be hitting the market as early as December. Much of the downward price impact has already been priced into the futures curve over the past week since China announced it was ready to cooperate following the Xi-Biden summit.’
Former President Donald Trump called the measure an ‘attack’ on the oil reserve and claimed that he helped grow the Strategic Petroleum Reserve when he was president – despite the crude oil amount decreasing from January 2017 to January 2021
Inflation is at its highest in 30 years – one of the factors leading to a massive decrease in approval for Joe Biden
On the other hand, Democrats said their calls for Biden to tap the reserve were answered Tuesday.
Senate Majority Leader Chuck Schumer called it ‘good news for families.’
‘I called for this to provide relief at the pump and signal to OPEC they can’t manipulate supply to inflate gas prices,’ the New York Democrat continued on Twitter. ‘Of course—the only long term solution is to keep working to eliminate fossil fuel dependence and create a robust green energy economy.’
The Organization of Petroleum Exporting Countries and its allies are scheduled to meet Dec. 2 and are eyeing plans to increase oil production by a mere 400,000 barrels per day in January.
But, OPEC+ officials warned in turn they would respond if the world’s largest oil consumers tapped their reserves, setting up a fight for control of the global oil market.
OPEC+ officials have said they may reconsider plans to add production at their meeting next week, according to Al Jazeera.
The standoff demonstrates a fraught relationship between Washington and Riyadh, Saudi Arabia, traditionally a strong trade ally of the US.
Biden has repeatedly pointed to OPEC+ and Russia for price hikes, and even called on the Federal Trade Commission to investigate for price-gouging as he tries to find a culprit for the inflation that is beguiling his administration.
‘If you take a look at gas prices and you take a look at oil prices that’s a consequence of thus far the refusal of Russia or the OPEC nations to pump more oil,’ he said.
OPEC+ in April 2020 cut output by more than 10 million barrels a day. The group has about 3.8 million bpd in supply cuts that it has not yet returned to the market.
But another reason prices have surged is that the US cut production of oil by three million barrels in the summer of 2020, as the pandemic crushed demand.
And as Biden begs other nations to pump more oil, he has taken a number of steps to curb oil and gas production within the US – pausing new oil and gas leases on federal land and revoking the permit for the Keystone XL pipeline.
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