On Monday’s broadcast of CNBC’s “Last Call,” Biden Senior Adviser for Energy and Investment Amos Hochstein said the Biden administration is “managing our energy transition by making sure prices are lower.” And “Gasoline prices are lower than they are in Europe and wherever else.”
Hochstein said that U.S. allies ask, “[O]ne, how the hell’d you do it? How are you both pursuing a[n] energy transition investment, providing these kind of incentives that [are] driving so much capital to invest in the United States? In fact, their biggest complaint is that their companies are coming to the United States to invest. While, at the same time, we are the largest producer of oil that — not just the United States has ever seen but the world has ever seen. … We are the largest exporter of natural gas. So, we’re doing all of this at the same time. We’re managing our energy transition by making sure prices are lower. … Natural gas prices are $1.70 here, that is very low. Gasoline prices are lower than they are in Europe and wherever else. Cost of manufacturing has gone down as a result, our inflation has gone down as a result. And we’re making these other investments. When it comes to the LNG pause, they all were concerned. They definitely had a concern, is the United States stepping off the scene as our supplier instead of Russia?”
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