Amos Hochstein, the Biden administration’s senior adviser for energy and investments, said Monday on CNBC’s “Last Call” that the Biden administration is “managing the energy transition by making sure we keep prices down.” And he said, “Gasoline prices are cheaper than in Europe or anywhere else.”
Hochstein said U.S. allies are asking.[O]No, how the hell did you do it?How are you both working on this?[n] energy transition investments, providing these types of incentives; [are] Are we moving that much capital to invest in the US? In fact, their biggest complaint is that their companies are coming to the US to invest. At the same time, our country is also the largest oil producer that not only the United States but the world has ever seen. … We are the largest exporter of natural gas. So we’re doing all of these things at the same time. We are managing the energy transition by ensuring prices come down. … The price of natural gas here is $1.70, which is very low. Gasoline prices are low compared to Europe and other countries. This resulted in lower manufacturing costs and lower inflation rates. And we have other investments as well. They were all concerned about LNG outages. They definitely had concerns, would the United States withdraw from the scene as our supplier instead of Russia? ”
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