BEIJING WILL RESIST ANY PRESSURE
FROM THE EU TO TAKE SIDES ON THE
UKRAINE INVASION.
PRESIDENT BIDEN HAS REANNOUNCED
THE RELEASE OF THE STRATEGIC
PETROLEUM RESERVE RELEASE, THE
LATEST EFFORT BY THE BIDEN
ADMINISTRATION TO RORY GAS
PRICES.
PRESIDENT BIDEN CONTINUED TO
BLAME PUTIN AND THE WAR IN
UKRAINE FOR THE RECORD HIGH
PRICES.
>> OUR PRICES ARE RISING BECAUSE
OF PUTIN'S ACTIONS.
THERE ISN'T ENOUGH SUPPLY.
AND THE BOTTOM LINE IS IF WE
WANT LOWER GAS PRICES WE NEED TO
HAVE MORE OIL SUPPLIED RIGHT
NOW.
BETWEEN RAMPING UP PRODUCTION,
IN THE SHORT TERM, AND DRIVING
DOWN DEMAND IN THE LONG TERM, WE
CAN FREE OURSELVES FROM OUR
DEPENDENCE ON IMPORTED OIL FROM
ACROSS THE WORLD.
LOOK, I KNOW GAS PRICES ARE
PAINFUL.
I GET IT.
MY PLAN IS GOING TO HELP EASE
THAT PAIN TODAY.
AND SAFEGUARD AGAINST TOMORROW.
WE WILL CONTINUE TO USE EVERY
TOOL IN MY DISPOSAL TO PROTECT
YOU FROM PUTIN'S PRICE HIKE.
>> ENERGY PRICES HAVE BEEN
SPIKING SINCE RUSSIA INVADED
UKRAINE, DESTABILIZING THE
GLOBAL ENERGY MARK.
THIS MARKS THE THIRD TIME THE
U.S. HAS TAPPED THE STRATEGIC
RESERVES IN THE PAST SIX MONTHS.
THE OIL WILL BE MADE AVAILABLE
FOR ABOUT SIX MONTHS, BEGINNING
IN MAY.
NEXT WEEK, EXECUTIVES FROM SIX
OF THE LARGEST OIL COMPANIES
WILL TESTIFY TO CONGRESS ABOUT
THE SURGING GAS PRICES.
>>> JOINING ME HERE ON THE SET,
IT'S APRIL 1st, BUT HE'S
NOBODY'S FOOL, WHITE HOUSE
REPORTER FOR BLOOMBERG NEWS,
JOSH, THANK YOU FOR BEING HERE.
LET'S START, BACK UP A STEP, WE
HAVE THE EU AND CHINA, THEY ARE
TALKING TODAY, WHAT DOES THE
WHITE HOUSE HOPE TO ACCOMPLISH?
WHAT DO THEY HOPE THE MESSAGE IS
SENT FROM THE EU TO CHINA, WHICH
WE KNOW SEEMS TO BE GOING OUT OF
ITS WAY TO REMAIN AS NEUTRAL AS
POSSIBLE IN THIS, DESPITE
PRESSURE FROM WASHINGTON, TO
HELP OUT.
>> YES, YOU KNOW, ONE PERSON'S
NEUTRALITY IS ANOTHER PERSON'S
COMPLICIT WITH THE SITUATION, I
SUPPOSE, I MEAN THE U.S. IS
GOING TO HOPE THAT THE EU READS
FROM THE SAME SONG SHEET THEY'VE
BEEN READING FROM SAYING IF
YOU'RE NOT ENGAGED, HELPING
UKRAINE, IF YOU'RE IN THE
SANCTIONING RUSSIA, YOU'RE AT
LEAST IMPLICITLY SUPPORTING
RUSSIA OR AT LEAST NOT
CONDEMNING IT, SO THE FEAR IN
THE WEST, IT HAS BEEN THAT CHINA
WILL CONTINUE TO SUPPORT RUSSIA
AND THAT COULD TAKE MANY PATHS,
JOHN, THAT COULD BE DIRECT AID,
HARDWARE, THIS KIND OF STUFF,
SUPPLIES OR SALES TO HELP RUSSIA
EVADE.
SO SANCTIONS THAT HAVE BEEN PUT
ON IT.
IN OTHER WORDS IF YOU'RE TRYING
TO APPLY PRESSURE, TO LIMIT
PUTIN'S OPTIONS TO RAISE MONEY,
SELL STUFF, YOU BRING A
CHINA-SIZED LEAK IN THAT, THAT
MAKES IT A LOT HARDER TO PUT
PRESSURE ON RUSSIA AND RUSSIA'S
ECONOMY.
SO THEY'RE HOPING THE EU
STABBEDS FIRM.
THE EU -- STANDS FIRM.
THE EU HAS DIFFERENCES OF VIEWS
HOW STRONG TO GO ON CHINA AND
SOME COUNTRIES SAY WE SHOULD
PUMP THE BRAKES A LITTLE BIT,
AND JOE BIDEN WILL BE WATCHING
THIS CERTAINLY, AND IT IS HOPED
THAT HE DELIVERS THE SAME
MESSAGE WHICH IS THAT THE WEST
IS WATCHING AND THAT XI
JINGPING, IF THEY SORT OF DIP
THE TOE INTO THE WATER OF
SUPPORTING RUSSIA, OVERTLY,
THEY'RE GOING TO FACE SIMILAR
REACTION AS RUSSIA.
>> SO THE WHITE HOUSE IS KEENLY
AWARE OF THE RISING GAS PRICE,
THE POLITICAL FALLOUT AS WELL,
WE HEARD FROM THE PRESIDENT
YESTERDAY, TAPPING THE RESERVES.
BUT HOW ARE OFFICIALS TELLING
YOU THAT HE CAN BALANCE THAT
NEED TO TRY TO KEEP GAS PRICES
DOWN, WITH HIS CLIMATE
INITIATIVES AND TRYING TO STAY
AWAY FROM MORE MOFLFOSSIL FUELS?
>> JOE BIDEN HAD FOUR CONCURRENT
CRISES, ONE IS CLIMATE CHANGE
AND IN THE LAST WEEK HE HAS
EMBRACED OIL AND GAS IN AN
UNPRECEDENTED WAY FOR HIM SINCE
THE PRESIDENCY BEGAN AND HE HAS
TO, HE IS DOING THAT BECAUSE HE
HAS TO, THE PRICE OF OIL,
PUTIN'S WAR IS SENDING SHOCKS
THROUGH THE SYSTEM, AND BANNING
RUSSIAN OIL IS ACCELERATING THAT
SITUATION, AND 180 MILLION SPR,
IT IS FOUR SALT CAVERNS IN THE
GULF OF MEXICO, AND AMERICA'S
BIGGEST CLUB, THIS IS THE
BIGGEST THING THEY'VE DONE WITH
THE SPR EVER.
IT IS UNPRECEDENTED.
SO HIS HOPE HERE IS THAT
SUPPLIES THE MARKET IN THE SHORT
TERM AND THAT THEY'RE GOING TO
PUT BAIT ON THE LINE IN THE LONG
TERM TO GET THE U.S. TO DRILL
MORE, BOTH FOR OIL AND FOR GAS,
BECAUSE REMEMBER, IN EUROPE HE
ANNOUNCED THIS DEAL TO TRY TO
WEEN EUROPE OFF RUSSIAN GAS AND
THE GOAL THAT AMERICAN GAS CAN
FILL THE VOID BUT JOE BIDEN HAS
SORT OF GONE TO THIS DRILL BABY
DRILL MENTALITY TO ADDRESS WHAT
HAS COME FROM THIS.
>> HARD TO IMAGINE THIS IN 18
MONTHS.
>> AND LASTLY, THE WHITE HOUSE,
THERE'S ONLY SO MANY OPTIONS
THEY HAVE.
THEY ARE APLIG AS MUCH PRESSURE
AS THEY CAN ON PUTIN SHORT OF A
DIRECT MILITARY ENGAGEMENT WHICH
IS NOT GOING TO HAPPEN, THIS WAR
WILL END WHEN PUTIN DECIDES IT
WILL AND WE'RE SEEING A NEW
FRONT FROM THE PRESSURE CAMPAIGN
WHICH IS THE IDEA OF PUTTING
INTELLIGENCE OUT THERE
REMINISCENT OF WHAT THEY DID
BEFORE THE WAR.
AND WE'VE HEARD IN THE LAST
COUPLE OF DAYS, TALKING ABOUT
HOW PUTIN IS GETTING BAD
INFORMATION AND THE GENERALS
MIGHT BE UNDER HOUSE ARREST.
WHAT IS THE FURTHER STRATEGY
BEHIND?
WHAT ARE THEY HOPING TO DO TO
PUTIN BY PUTTING THIS ALL OUT
THERE?
>> THEY ARE HOPING IT WORK, AND
EXCEPT WHEN THEY DECIDED NOT TO
HOLD THEIR CARDS BACK.
THE OFFICIALS SAID, AND THAT JOE
BIDEN SAID IT YESTERDAY, AND IN
PARTICULAR, SAID HE IS THINKING,
HE MENTIONED THE HOUSE ARREST,
AND FIRING OF OFFICIALS, THEY
DANCED AROUND WHO THAT COULD BE,
OF COURSE, SOME OF THE MORE HIGH
PROFILE MINISTERS HAVEN'T BEEN
SEEN A LOT.
>> NO.
>> LATELY.
SO THEY'RE SORT OF SINGLING HERE
THAT THEY THINK THAT THERE IS
MORE DISARRAY HERE THAN IS BEING
LED ON.
HOWEVER, SOME PEOPLE ARE LOOKING
AT THE RUSSIAN MOVEMENTS RIGHT
NOW AND THINKING THEY ARE
PULLING BA CAN FROM KYIV AND
SORT OF CENTRAL AND EVEN,
FURTHER WESTERN RUSSIA AND
FOCUSING ON THE DONBA SUDDENS AN
AND EAST AND BIDEN POURED COLD
WATER ON THAT AND SAYING IT IS
TOO EARLY, AND WE DON'T KNOW AND
RON KLAIN SAID DISTRUST WHEN
SPEAKING TO MSNBC, AND THE GOOD
NEWS IS THE HOUSE IS IN ORDER
AND THE BAD NEWS THEY DON'T
THINK IT WILL CHANGE OR END ANY