Summers: Biden could bring more gas pumps, oil drilling, #summer #Biden #gas #pumps #Oil #drilling Welcome to OLASMEDIA TV NEWSThis is what we have for you today:
During Wednesday’s broadcast of CNN’s “Situation Room,” Harvard professor, economist, director of the National Economic Council under President Barack Obama and Secretary of the Treasury under President Bill Clinton Larry Summers stated that the Biden administration can take steps to pump it up. of natural gas and oil drilling to lower prices, and such actions “should be taken as part of our transition to renewable energy sources.”
Summers said: “I think there are things the administration can do. They’ve been talking about cutting rates for six months to help American consumers. It hasn’t happened yet. There are things that can be done in the short term. pumping more natural gas and drilling for oil so that we can increase supply and lower those prices. Those steps need to be taken as part of our transition to renewables. We can take a stronger stance on drug prices, which are so often much more expensive in this country than in other countries, so there are things we can do to help bring down inflation, but it will take time, and just like the body doesn’t mobilize its immune system to fight a disease without experiencing — without the patient getting a fever, I think we’re probably going to see a downturn and recession in the not-too-distant future.”
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