Watch: Biden Energy Advisor Admits That Admin Wants To Limit Oil Production “To Accelerate The Transition”

Authored by Steve Watson via Summit News,

Biden administration energy advisor Amos Hochstein admitted Wednesday that while the regime wants to increase oil production in the short term, its overall aim is to limit it in order to “accelerate the transition”.

Appearing on CNN, Hochstein proclaimed “I think we have been clear that we want to see the U.S. industry increase oil production.”

Then in the same breath, Hochstein stated that the main goal is to limit production of fossil fuel derived energy now in order to “make sure that we’re in a better footing to accelerate the transition.”

“So, we have to make that differentiation to make sure that the American consumer has what it needs… to grow our economy and the global economy, but not take steps and endanger the climate work that we’re trying to do,” Hochstein further declared.

He continued, “[I]t is about making a choice between what is the short-term and the medium-term so that we can make sure we have enough oil and gas to support us through the transition, and what are the kind of steps that we don’t want the oil and gas industry to take that would have long-term consequences when we don’t want new major projects that would take 20, 30 years to become profitable.”

Watch:

The comments came in the wake of Biden announcing another release of 15 million barrels of oil from the Strategic Petroleum Reserve ahead of the 2022 midterms in an attempt to reduce gas prices.

Biden to oil companies: “You’re sitting on record profits and we’re giving you more certainty so you can act now to increase oil production now.” pic.twitter.com/hlHVtm5e7F

— Greg Price (@greg_price11) October 19, 2022

REPORTER: “What is your response to Republicans who say you are only doing this SPR release to help Democrats in the midterms?”

BIDEN: “Where have they been the last four months? […] These guys are asleep. I don’t know where they’ve been.”pic.twitter.com/VzwQ0yWzt2

— Breaking911 (@Breaking911) October 19, 2022

During the CNN interview, Hochstein also claimed that the administration intends to buy oil at $70/barrel next year, when prices come down, to refill the SPR:

Biden energy adviser @amoshochstein claims the W.H. will somehow buy oil to refill at SPR at $70/barrel pic.twitter.com/R24HaeOzzb

— Tom Elliott (@tomselliott) October 19, 2022

First they just need to empty the rest of the SPR to bring down prices https://t.co/2DD8e8xEPO

— Tom Elliott (@tomselliott) October 19, 2022

The White House hopes for record US oil production next year.

But will oil cos respond when the Dept of Energy also wants to buy SPR oil back at $68-72/barrel.. a far lower price than today? Why invest if prices heading down but your costs are up? pic.twitter.com/2N9doPu2VI

— Brian Sullivan (@SullyCNBC) October 19, 2022

The U.S. SPR is at its lowest level for 4 decades, and has tanked since Biden took office:

Look at what Biden has done to our Strategic Petroleum Reserve … and gas prices are still close to a $1.50 more per gallon than when he took office. pic.twitter.com/rx6XPK0rPy

— RNC Research (@RNCResearch) October 19, 2022

Biden himself repeated the claim that he will buy back oil at a lower price and save money, while critics pointed out that Democrats blocked President Trump from filling the reserves when oil was just $24/barrel two years ago:

BIDEN: “By selling from the [oil reserve] at the higher price of $90 earlier this year and then re-filling it in the future at a lower price around $70 will actually make money.”

President Trump wanted to fill the reserves when oil was $24/barrel, but Democrats blocked him. pic.twitter.com/C3OyXM1Qfs

— RNC Research (@RNCResearch) October 19, 2022

The White House Press Secretary had no answers when asked about that:

“In 2020, when Congress was debating funding for replenishing the SPR at a low price, Democrats blocked it — saying that it was a bailout for big oil. But Biden said today it would be a good deal for taxpayers [to fill it now].”

Jean-Pierre: “It was a different time.” pic.twitter.com/mM40RwyRyv

— RNC Research (@RNCResearch) October 19, 2022

Jean-Pierre also failed to explain why more oil is needed from the SPR if gas prices are going down, as the Biden regime has claimed:

Bloomberg’s @JenniferJJacobs: “Why would the U.S. need another SPR release from that 180 million barrels…you already announced? Why would you need that now if [gas] prices are already dropping?”

KJP says Biden’s “committed to doing everything…to address Putin’s price hike” pic.twitter.com/vGLiUy99fn

— Curtis Houck (@CurtisHouck) October 18, 2022

Fox News reporter Peter Doocy asked Jean-Pierre “So, you’re asking oil companies to further lower gas prices. What makes you think they are going to listen to an administration that is ultimately trying to put them out of business?”

Doocy: “Well, they produce fossil fuels & this President says he wants to end fossil fuel.”

KJP: “So…Oil production is up and on track to reach a record high…We’ve seen that…from their…profit margins. They are–they–you know, they–it’s record high.” pic.twitter.com/EEF4Og3VwZ

— Curtis Houck (@CurtisHouck) October 19, 2022

Jean-Pierre knows full well that the agenda is the “transition,” and to put an “end” to fossil fuel energy companies.

The administration is openly admitting that is the case while Jean-Pierre plays dumb:

FLASHBACK: Biden says “I guarantee you we are going to end fossil fuel” pic.twitter.com/q4r2BZyXm2

— The Post Millennial (@TPostMillennial) March 7, 2022

While Biden claimed that oil companies are raking in record profits and that the price of gasoline is not being reflected at the pump, his official Twitter account sent out a chart showing the exact opposite:

It’s simple: When the cost of oil comes down, we should see the price at the pump come down as well. That’s how it should work.

But right now, refiners and retailers are making record profits at the expense of the vast majority of Americans. It’s unacceptable. pic.twitter.com/h3xiyEYEdv

— President Biden (@POTUS) October 19, 2022

While it is still up on average $1.50 from when he took office, Biden’s Chief of Staff Ron Klain claimed the administration has “tackled” gas prices:

Biden Chief of Staff Ron Klain claims Biden has “tackle[d]” gas prices.

A gallon of gas costs close to $1.50 more than when Biden took office. pic.twitter.com/y123CuLGhh

— RNC Research (@RNCResearch) October 20, 2022

The administration continues to claim the economy is “strong”…

President Biden: “I’m not concerned about the strength of the dollar. I’m concerned about the rest of the world, our economy’s strong as hell.” pic.twitter.com/ZFYLJVWSoM

— Watcher.Guru (@WatcherGuru) October 16, 2022

…while quietly preparing for an economic crash on par with 2008, according to The New York Times.

NYT: Could a Market Blowout Like the UK’s Happen in the US?https://t.co/7ITI7h3kJI

— RSSNews (@rss_newsfeed) October 19, 2022

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