President Biden is attempting to curb high prices at the gas pump by allowing high-ethanol content gasoline to be sold in the hot summer months.
Context: For months Americans have steadily seen prices at the gas pump and inflation rates rise. The Biden administration has attempted to punt blame for America’s economic crises to Russian President Vladimir Putin and Republicans.
However, despite Biden’s attempts to save his reputation Americans haven’t caught on to his lies and his approval rating has continued to shrink. Biden’s lack of popularity will surely spell trouble for Democrats in this year’s midterm elections.
Republicans are poised to take back control of the House of Representatives by capitalizing on Biden’s many failures.
What Happened: On Wednesday, President Biden announced the latest measure to curb high gas prices.
Details: Biden’s new measure would temporarily remove limits this year on when gas stations can sell an ethanol blend called E15, or fuel that is 15% ethanol and 85% gasoline. While a similar blend, E10, containing 10% ethanol can be sold year-round, the Environmental Protection Agency forbids the sale of E15 from June 1 through Sept. 15 annually over concerns that burning the fuel during the summer heat could worsen pollution.
Administration officials have said the emergency waiver can lower gas prices by up to 10 cents per gallon at the 2,300 gas stations that sell E15.
What It Means: However, that equals a small percentage of the country’s 150,000 gas stations meaning most people won’t experience any benefit from the measure.
What Biden Says: “It reduces our reliance on foreign oil. Adding this fuel to our gasoline, 10% or 15% or even more, stretches the supply,” President Biden said at a Poet LLC ethanol-processing facility in Menlo, Iowa. “It gives you a choice at the pump. When you have a choice, you have competition. When you have competition, you have better prices.’’ (per The Wall Street Journal)
Other Concerns: Oil-industry officials have questioned whether such moves would actually lower prices for consumers.
“We’re concerned that the administration is not focused on the real structural problems here and is attempting to find short-term fixes that don’t get at the heart of the issue,” said Frank Macchiarola, the American Petroleum Institute’s senior vice president of policy, economics and regulatory affairs. (per The Wall Street Journal)
What Republicans Say: “It’s a symbolic move, but it reminds me of a joke: It’s the thought that counts, and it’s a cheap thought,” Charles Lipson, political science professor emeritus at the University of Chicago, told the Washington Examiner. “It won’t do anything.”
“The main thing to read out of this, really, is that Biden refuses to address the two or three main issues because doing so would be going back on his campaign promises and rebutting the key green energy constituency in the Democratic Party as well as admitting that he had it wrong and the Republicans had it right,” Lipson added.
What Comes Next: The Environmental Protection Agency (EPA) is expected to issue an emergency waiver before June 1 to allow the sale of E15 over the summer.