Biden highlighted the energy while describing a one-on-one meeting with bin Salman — as high pump prices and the worst inflation in 41 years pushed the president’s approval rating to 33 percent. “We had a good discussion about ensuring global energy security and sufficient oil reserves to support global economic growth. And that will start soon,” Biden said after talks with the 36-year-old prince, who is usually known by his initials MBS. “I’m doing everything I can to increase the supply for the United States of America, which I expect will happen,” the president continued. “The Saudis share this sense of urgency, and based on our discussions today, I expect we will see further steps in the coming weeks.” When asked how long it will take Americans to see gas prices relax, Biden said, “I suspect you won’t see it for another two weeks. And we’ll see more when we see gas stations start to lower their prices in line with what they’re paying for gas.” Biden meets with Saudi Arabia’s Crown Prince bin Salman on July 15, 2022. SAUDI PRESS AGENCY/EPA-EFE/Shutterstock U.S. natural gas prices hit a record high of more than $5 a gallon on average in mid-June and currently stand at about $4.58 — up from $3.12 a year ago, according to AAA data. Despite Friday’s upbeat speech, Biden had previously said he would not ask Saudi Arabia to produce more oil as he mends relations with MBS after previously trying to sideline Saudi Arabia’s de facto ruler over the killing of the Washington columnist Post 2018 Jamal Khashoggi. NBC News reported earlier Friday that it took “several months” to convince Biden to make the trip to Saudi Arabia, after Riyadh demanded a personal visit to calm the firestorm Biden had caused by vowing to make the country a “pariah ” during a 2019 Democratic primary debate. “Are you expecting to ask the Crown Prince or the King to increase oil production?” a reporter asked Biden during a June 30 press conference in Madrid, Spain, following the NATO summit. “Well, first of all, that’s not the point of the trip… I’m not even sure. “I guess I’ll see the king and the crown prince, but that’s not the meeting I’m going to,” Biden replied. The journalist followed: “But if you saw the crown prince or the king, would you ask them to increase oil production?” In response to the drop in gas prices, Biden told reporters he was “doing everything I can.” Evan Vucci/AP “No, I’m not going to ask them,” Biden said. “I’ll ask – that’s where all the Gulf states meet. I have stated to them that I thought they should increase oil production, in general – not specifically to the Saudis. And I think we will — I hope we’ll see them, in their own interest, conclude that it’s the right thing to do.” Oil prices soared after Russia’s invasion of Ukraine on February 24, after rising throughout 2021 as social and business restrictions from COVID-19 eased. But Republicans criticized Biden for discouraging domestic manufacturing, saying he made the problem worse. Biden last year sought to impose a moratorium on new oil drilling on public lands and suspended drilling permits in the Alaska National Wildlife Refuge in the Arctic. He also launched the Keystone XL oil pipeline from Canada to the US. Last month, the president skipped a meeting between members of his administration and leaders of the biggest US oil companies – despite asking them to produce and refine more oil to lower prices and meeting with wind energy executives on the same day . The MBS meeting caused a further headache for the White House after Biden drew bipartisan condemnation on Friday for punching the crown prince when he arrived at the royal palace in Jeddah. “President Biden’s trip to Saudi Arabia is yet another slap in the face to American oil and gas producers,” Rep. Chip Roy (R-Texas) said in a statement. “From day one, Biden has demonized reliable energy producers through his rhetoric and policies. Now he’s punching the Saudi royals. Despicable.” According to NBC, White House advisers agonized over the choreography of Biden’s initial meeting with the crown prince — including whether the president should smile at MBS, shake his hand or give him “warm words” about the relationship between Washington and Riyadh, while journalists and there were cameras. Biden told reporters that natural gas prices are likely to drop in the “next couple of weeks.” Evelyn Hockstein/REUTERS Ultimately, the agency reported, it was decided to recommend that Biden not smile when greeting MBS — even though the advisers themselves acknowledged that Biden would likely do whatever he wished at the moment. High gas prices have fueled public anger at the Biden administration, with a New York Times poll released Monday showing 64 percent of Democrats want a new presidential candidate in 2024. Biden last month asked Congress to temporarily waive the federal gas tax of 18.3 cents per gallon, but was rebuffed. He previously ordered the release of a million barrels a day from the Strategic Petroleum Reserve for six months and allowed a higher ratio of ethanol to natural gas in the summer, but neither step has reduced prices.
