Fox News host Bill Hemmer interrupted Kevin Hassett, the National Economic Council Director under Donald Trump, during a discussion about the significant increase in gas prices in the United States. This exchange occurred on the network’s “America’s Newsroom,” where Hemmer highlighted that the average price for a gallon of gasoline had surged to $4.09, nearly a dollar higher than the previous week.
Hassett initially asserted that Trump perceives the high gas prices as a temporary situation, claiming that the administration has employed various strategies to tackle inflation, including a substantial release from the strategic petroleum reserve. He then attempted to redirect criticism towards President Joe Biden for his own past release of oil reserves, arguing it was aimed at mitigating energy prices before the election.
However, Hemmer quickly countered, emphasising the current context by pointing out that the price of West Texas crude oil had increased from $67 per barrel on February 27 to $111 currently. He questioned how much the economy could endure under these escalating costs.
In response, Hassett proclaimed that the economy possesses considerable momentum, suggesting it is functioning effectively. He further remarked that the energy landscape today differs significantly from that of the 1970s, attributing the current situation to the successful energy policies enacted during Trump’s presidency. He maintained that the rising prices are a transient issue and expected them to resolve soon.
Hassett’s comments reflect ongoing tensions regarding energy policy and economic strategy as the nation grapples with fluctuating fuel costs that affect consumers nationwide.
Test Your Understanding
How much do you know?
