Treasury Secy. Yellen says Biden admin. has done everything it can to bring down energy costs

June 7, 2022 Amber Coakley US 0

FILE— High gas prices are shown in Los Angeles, Tuesday, May 24, 2022. State Sen. President Pro Tempore Toni Atkins, and Assembly Speaker Anthony Rendon announced a legislative budget agreement on Wednesday, June, 1. The plan includes a $200 rebate to help with the rising gas prices for most taxpayers who make below a certain income level. Gov. Gavin Newsom has not agreed to the plan yet. Lawmakers and Newsom will continue negotiating through the month of June. (AP Photo/Jae C. Hong, File)

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UPDATED 1:49 PM PT – Tuesday, June 7, 2022

Treasury Secretary Janet Yellen suggested the Biden administration is out of options to lower gas prices in America. While testifying before the Senate Finance Committee Tuesday, she continued to lay the blame at Vladimir Putin’s feet for the soaring cost of gas.

“With respect to energy, the administration has done everything that they can to bring down energy costs,” Yellen claimed.

Treasury Secretary Janet Yellen concedes Biden has no plan to lower gas prices: “the administration has done everything that they can.”

Gas prices have more than DOUBLED since Biden took office. pic.twitter.com/5lFHIcqwQ1

— RNC Research (@RNCResearch) June 7, 2022

Energy Secretary Jennifer Granholm echoed Yellen’s stance in agreement. This comes as fuel prices in America set a new record high for the tenth day in a row while hitting $4.91 a gallon. That’s more than double since former President Donald Trump left office.

Meanwhile, a recent survey shows a vast majority of Americans don’t like the way President Joe Biden is handling the nation’s energy crisis. In an ABC News and IPSOS poll, 72 percent of respondents disproved of Biden’s gas policies. Americans have been feeling the pain at the pump for months with the national average continuing to rise.

A separate poll suggested a majority of Americans feel the economy is in bad shape and that they are struggling financially. In the Wall Street Journal-NORC survey released Monday, 83 percent of respondents said they believe the economy is either “poor” or “not good.”

The poll also found more than a third of those surveyed are not satisfied with their current financial situation and 38 percent believe their finances got worse over the past few years. This new survey comes as President Biden has sought to downplay concerns of a potential recession amid high inflation and other economic factors impacting Americans nationwide.