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White House claims increased demand for gasoline is cause of high gas prices

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Some of the highest gas prices in town are posted on a signboard at a gas station in downtown Los Angeles, California on June 22, 2021, as gasoline prices rise. (Photo by Frederic J. BROWN / AFP) (Photo by FREDERIC J. BROWN/AFP via Getty Images)

Some of the highest gas prices in town are posted on a signboard at a gas station in downtown Los Angeles, California on June 22, 2021, as gasoline prices rise. (Photo by Frederic J. BROWN / AFP) (Photo by FREDERIC J. BROWN/AFP via Getty Images)

Some of the highest gas prices in town are posted on a signboard at a gas station in downtown Los Angeles, California on June 22, 2021, as gasoline prices rise. (Photo by Frederic J. BROWN / AFP) (Photo by FREDERIC J. BROWN/AFP via Getty Images)

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UPDATED 5:46 PM PT – Saturday, June 26, 2021

White House Press Secretary Jen Psaki and Chief of Staff Ron Klain have fired back at a tweet from Congressman Jim Jordan (R-Ohio), highlighting how gas prices in June 2021 are 99 cents higher than they were in 2020. Their responses were oddly reminiscent of the Jimmy Carter administration with their willingness to blame the president’s failures on the American public.

They claimed the only reason gas prices have been on the rise is because demand is also on the rise. Meanwhile, ignoring the fact that demand and supply determine the price of a product.

In July of 1979, President Carter delivered what is commonly referred to as the most tone deaf presidential speech in American history. As Americans were battling sky high inflation, energy shortages and gas lines, Carter said the real crisis in America was that of confidence of the American people.

The Biden administration has taken a similar approach as they now try to pawn off responsibility for America’s surging gas prices on the public’s demand for gasoline.

Psaki claimed the price of gas is the same as it was in 2018, ignoring the record low prices of 2019. She also failed to mention prices are still continuing to rise. Psaki then tried to distract the public by bringing up how unemployment is down from 11 percent last year to 5.8 percent this year.

Klain responded to Jordan’s tweet himself, claiming gas prices are high because of COVID-19 limited travel and assumed that increased demand for gas single handedly caused gas prices to shoot up. Although, the supply side ultimately is the biggest force that affects prices at the pump.

Meanwhile, financiers have been investing heavily in oil futures ever since Biden halted and cancelled the construction of the Keystone XL Pipeline at the start of his term. Those investments were made with the expectation that the price of gas would rise and as a result, the price per barrel of crude oil rose even higher.

As of now, the question is not if gas prices under Biden will go up, but really how high.

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