President Joe Biden marveled at the high cost of gas on Wednesday, without offering any solutions for lowering prices.
“Did you ever think you’d be paying this much for a gallon of gas?” Biden said. “In some parts of California, they’re paying $4.50 a gallon.”
The president spoke about gas prices during an event at the Port of Baltimore to celebrate the passage of his $1.3 trillion infrastructure bill.
“People are feeling it. They’re feeling it,” Biden said, speaking at length about supply chain disruptions and the higher cost of goods.
Biden defended the higher cost of goods, arguing that thanks to trillions of dollars of government spending that he signed, more Americans had money to spend, adding to demand for goods.
“Everything from a gallon of gas to a loaf of bread costs more,” Biden said. “And it’s worrisome even though wages are going up.”
Biden did not mention his administration’s actions to reduce domestic production of oil, such as suspending gas and oil leases on federal land and closing the Keystone XL pipeline.
Biden tried to signal optimism, claiming that “jobs are up, wages are up, values are up, and savings are up.”
“But we’ve got problems too,” Biden admitted, pointing to higher prices for consumers and shortages.
“We’re tracking these issues and trying to tackle them straight on,” he added.
The president did not offer a timeline for when prices would go back down, but promised that it would happen thanks to his long-term infrastructure bill.
“Thanks to the steps we’re taking, very soon we’re going to see the supply chain start catching up with demand,” he said. “So not only will we see more record-breaking job growth, we’ll see lower prices, faster deliveries as well.”