"Joe Biden, he's the one who had the biggest release of the strategic reserve, and there was no supply disruption at the time. He was just trying to offset all those terrible energy prices and get gas prices down ahead of the election."
"Our economy has so much momentum that it's humming along. Don't forget that our economy is much different than the 1970s economy where we didn't really produce the oil."
"I think the energy dominant strategy of President Trump has been a real godsend right now this time. But again, these higher prices are a temporary phenomenon and it's going to end very soon."
Gas prices have increased significantly, reaching an average of $4.09 per gallon. Kevin Hassett discussed the Trump administration's efforts to manage fuel prices, including a major release from the strategic reserve. He noted that Joe Biden previously released reserves without supply disruptions to lower energy prices before elections. Hemmer emphasized the current economic momentum and the rise in West Texas crude prices, while Hassett expressed optimism that the higher prices are temporary and will soon decline.
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