Biden doubling down in wrong direction on lowering gas prices: Jackie DeAngelis
President invokes the Defense Production Act to expand clean energy production as gas prices continue to climb
{{#rendered}} {{/rendered}}FOX Business correspondent Jackie DeAngelis argued on "America Reports" Monday that President Biden invoking the Defense Production Act to expand clean energy production is not a "right now solution" to lowering record-high gas prices.
JACKIE DEANGELIS: The forecasters that I follow on Wall Street do not see prices moderating at all. And you know this as well, GasBuddy right now is saying by mid-June, we'll see that $5 mark. We're not far away.
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So I think we're going to hit that pretty quickly. And JP Morgan is saying $6 or more for the national average by the end of the year. So I don't know who's telling them that gas prices are going to moderate here. And then to add insult to injury, you've got them invoking the Defense Production Act to work on solar. We don't have the technology to store the power we need to work on batteries and figure out how all of this is going to work to make it reliable. This is not a right now solution. He is completely doubling down and going in the wrong direction.
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