Oil expert explains the only ‘concrete action’ Biden admin took to lower gas prices – By Talia Kaplan (FOX Business) / Aug 22, 2022
Natural gas prices will soar this winter, Andy Lipow warns
Lipow Oil Associates President Andy Lipow argued on Monday that releasing the Strategic Petroleum Reserve is the only “concrete action” that the Biden administration has taken thus far to lower prices at the pump.
“The only really substantive action that the Biden administration took was the release of the Strategic Petroleum Reserves and I think that contributed about 15 to 20 cents a gallon of the gasoline price decline,” the energy expert told “Mornings with Maria” on Monday.
“I expect, as we go into the winter, especially the latter half of September, we could see additional relief at the pump of another 15 cents a gallon as refiners begin making that winter blend and that cheaper gasoline cost is passed through to the consumer.”
He added that the administration has “done very little to get more oil and natural gas out of the ground,” as much of that production and leasing is now “tied up in court decisions.”
