>> AMERICANS STILL WAITING FOR
RELIEF FROM RECORD HIGH
INFLATION AFTER THE CONSUMER
PRICE INDEX HIT A STAGGERING
9.1 IN JUNE.
DEMOCRATIC CONGRESSWOMAN FROM
PENNSYLVANIA, MEMBER OF THE
HOUSE FOREIGN AFFAIRS ARMED
SERVICES COMMITTEE,
CONGRESSWOMAN, THANKS FOR YOUR
TIME.
>> THANK YOU, AND THANK YOU FOR
HAVING ME ON AGAIN.
JACQUI: OF COURSE, GOOD TO
ALWAYS TALK TO YOU.
THE WHITE HOUSE HAS BEEN
CELEBRATING THIS DIP IN GAS
PRICES OVER THE COURSE OF THE
LAST MONTH OR SO WHICH OF
COURSE IS WELCOMED NEWS, BUT
WITH A LOT OF BUTS.
WHEN PRICES WERE GOING UP WE
HEARD SO OFTEN THAT IT WAS
PUTIN’S FAULT AND THE COMPANY’S
FAULT AND WHEN THEY COME DOWN,
THE PRESIDENT APPARENTLY
CONTROLS GAS PRICES AND MOST
IMPORTANTLY, GOES PRICES ISN’T
THE ONLY THING THAT NEED TO COME DOWN.
COME DOWN.
THE INFLATION, 9.1% AND
OUTPACED WAGE GROWTH.
HOW MUCH CREDIT DOES THE WHITE
HOUSE DESERVE.
>> INFLATION IS A REAL THING
AND WE NEED TO BE AGGRESSIVE
ABOUT IT AND I WOULD ARGUE THAT
THE FED WAS PERHAPS TOO SLOW IN
MOVING ON THIS ISSUE AND THERE
IS MORE TO THIS, OF COURSE,
THAN GAS PRICES ALONE, SO I
THINK THAT THERE’S QUITE A LOT
OF WORK THAT CAN BE DONE.
I’M PART OF A NEW DEM COALITION
AND HELPED A FOUNDATION WORKING
GROUP THAT RECENTLY PUT OUT AN
INFLATION REPORT THAT WAS
LAUDED BY FORBES REPORT AS
BEING THE BEST BLUEPRINT TO
COMBAT INFLATION THAT’S COME
OUT OF CONGRESS.
AND IT DOES GO OVER ALL THE
THINGS, ENERGY BEING ONE OF
THEM, BUT ONLY ONE OF THEM THAT
WE CAN BE DOING TO PUSH ON ALL
THE LEVERS POSSIBLE TO LOWER
THIS INFLATION PROBLEM THAT
WE’RE HAVING, WHETHER IT BE
SUPPLY CHAINS, WILL IT BE
ENERGY SECURITIES THEY’VE
TALKED ABOUT WORK FORCE ISSUES,
LOWERING THE PRICE OF
AGRICULTURE AND THOSE SORTS OF
THINGS TO TRY TO MAKE THE
AMERICAN DOLLAR GO FARTHER ARE
THE THINGS IN THAT REPORT AND I
WOULD ENCOURAGE PEOPLE TO TAKE
A LOOK AT THAT BECAUSE IT’S AN
EXAMPLE OF WHAT ALL CAN BE
DONE, NOT JUST THE CONGRESS,
NOT JUST THE ADMINISTRATION,
BUT ALL LEVERS OF GOVERNMENT TO
TRY TO ADDRESS THIS REALLY
IMPORTANT ISSUE.
JACQUI: I’D LIKE TO TAKE A
DEEPER LOOK AT THAT.
THE WHITE HOUSE SAYS RELEASING
BARRELS FROM THE STREAK
RESERVES HAVE KEPT GAS PRICES
AT BAY, BUT THAT’S SCHEDULED TO
END IN OCTOBER AND THEN IN
DECEMBER WE’VE GOT THIS BAN ON
CARGO SHIPS FROM RUSSIAN OIL
INTO EUROPE.
DECEMBER 5TH IT WOULD BLOCK
DOUBLE THE AMOUNT OF OIL FROM
THE MARKET SINCE THE WAR BEGAN
AND CONCERNED THAT RUSSIA COULD
SHUT DOWN SUPPLY TO EUROPE
COMPLETELY.
SO MY POINT IS THAT THINGS
MIGHT SEEM LIKE THEY’RE
TRENDING BETTER NOW, BUT IT’S
PRETTY TEN UOUS AND THEY DON’T
WANT TO FILL THE RUSSIA-SIZED
HOLE IN THE MARKET WITH THE
U.S.
>> WE’RE EXISTING WELLS AND
PERMITS THAT EXIST TODAY.
THE REAL ANSWER IS TO GET TO A
CLEAN ENERGY ECONOMY AS SOON AS
POSSIBLE.
JACQUI: WHAT’S YOUR REACTION TO
THAT?
>> SO MY REACTION WOULD BE,
IT’S A YES AND.
WE NEED TO MAKE SURE THAT WE
ARE USING THE RESOURCES THAT WE
HAVE AVAILABLE TO US HERE AND
WE NEED TO BE MAKING SURE THAT
WE’RE LOOKING FORWARD TO THE
FACT THAT WE NEED TO REDUCE OUR
DEPENDENCE AS A NATION AND
PLANET AS THOSE SOURCES OF
ENERGY SO I THINK THAT WE
ABSOLUTELY NEED TO BE DOING
BOTH.
I THINK THAT THE UNITED STATES,
WE NEED TO, AS A NATION, AS A
GOVERNMENT, BE MAKING SURE THAT
WE’RE SHOWING THE DEMAND SIGNAL
TO THE INDUSTRY SO OIL AND GAS
CITY SO THEY CAN HAVE A DEMAND
INTO THAT AND BEING COMFORTABLE
TO LEVEL OUT THE PRODUCTION
THAT THEY HAVE.
BUT WE NEED TO BE MOVING
AGGRESSIVELY FORWARD AS WE HAVE
BEEN IN PLACES LIKE THE
AMERICAN RESCUE PLAN AND OTHER
PLACES TO MAKE SURE THAT WE’RE
ALSO THINKING ABOUT THE
RENEWABLE OPPORTUNITIES THAT WE
MUST PURSUE AS WELL.
JACQUI: SO, THE WHITE HOUSE IS
UNDER A LOT OF PRESSURE FOR THE
PRESIDENT TO REACH AS FAR AS HE
CAN ON CLIMATE AFTER SENATOR
MANCHIN BASICALLY KILLED THE
CLIMATE PROVISIONS OF THE
INITIATIVES THE LAST WEEK OR
THE WEEK BEFORE.
IT’S A TOUGH TIME TO BE MAKING
EXECUTIVE ORDERS ON CLIMATE
GIVEN IT COULD BE USED AS A
LEGAL BASIS TO BLOCK OIL OR GAS
DRILLING OR OTHER PROJECTS.
THE PRESIDENT DIDN’T PULL THE
TRIGGER ON THAT, BUT HE SAYS
IT’S COMING.
>> I’M NOT CERTAINLY I’M
FOLLOWING WHAT YOUR QUESTION
IS.
I THINK YOU’RE ASKING WHETHER
OR NOT IT MAKES SENSE TO
DECLARE SOME SORT OF EMERGENCY,
A CLIMATE EMERGENCY.
I THINK WHAT I PUSH BACK ON
BOTH PARTS OF THE AISLE ON IS
THAT EVERYTHING CANNOT BE SO
HYPERBOLIC AND SO EXTREME AT
ALL TIMES.
WE REALLY NEED TO BE WORKING
TOGETHER, COLLABORATIVELY
ACROSS BOTH SIDES OF THE AISLE.
PEOPLE AGREE THAT OUR PLANET IS
HEATING UP AT AN ALARMING RATE
AND WE NEED TO DO SOMETHING AND
THE VAST MAJORITY DO.
THE FAR LEFT AND FAR RIGHT
SWINGS ALL THE TIME END UP WITH
US, FRANKLY, NEVER MOVING
ANYWHERE AND NEVER GETTING
ANYTHING DONE AND WE NEED TO
KNOCK IT OFF TO BE HONEST.
>> TO REPHRASE MY QUESTION,
WE’RE IN A TIME WHEN THE
DOMESTIC OIL PRODUCERS HAVE
BEEN PUSHING THE WHITE HOUSE TO
SEND A STRONG SIGNAL TO THE
MARKET THAT THEY SUPPORT
LONG-TERM INVESTMENT, BUT AT
THE SAME TIME, THE WHITE HOUSE
IS UNDER PRESSURE TO MAKE THESE
EXECUTIVE ORDERS AND DOES THAT
TIMING CONFLICT?
IS IT THE RIGHT TIME TO BE
REACHING FAR ON CLIMATE WHEN
YOU’VE GOT DOMESTIC OIL
PRODUCERS SAYING WE NEED A
STRONG SIGNAL THAT THE WHITE
HOUSE WILL SUPPORT US?
>> I THINK RIGHT NOW IS THE TIME FOR US ALL TO BE WORKING
TIME FOR US ALL TO BE WORKING
COLLABORATIVELY AND
COLLECTIVELY
COLLECTIVELY TO ADDRESS THIS
ISSUE OF INFLATION NOW AND IT’S
A YES AND COMBINATION, AND IT’S
SOMETHING THAT CAN PULL THE
LEVERS IN THE FUTURE AS WELL.
THINGS LIKE MAKING SURE--
IT SOUNDS LIKE WE MIGHT BE OUT
OF TIME, BUT I’LL STOP THERE.
JACQUI: WE APPRECIATE HAVING