Joe Biden had high economic goals when he ran for president two years ago, including moving the nation away from fossil fuels, strengthening the safety net, and increasing fairness and equality.
After two years, and with the midterm elections in November approaching, his policies are now being driven by a more mundane issue: gas costs.
In an effort to lower the price of gasoline, the White House issued its most recent declaration on the subject on Wednesday, promising to extend the flow of oil from national stockpiles through December, which is longer than originally intended. Further releases may take place this winter, according to officials.
The actions are intended to address the rising cost of gasoline since he entered office in 2021.
Many voters are concerned about inflation, so it's understandable, according to observers, that the president would make it a point of emphasis.
However, given that Mr. Biden has little control over the situation, the lengths he has taken to address it are nonetheless impressive.
Ben Cahill, a senior scholar at the Center for Strategic and International Studies, a Washington-based think tank, claims that "the White House has placed its credibility on being able to cut energy prices." "Since presidents don't actually have any influence over petrol prices, this is undoubtedly unique. Never have they and never will they."
What volume of oil did the US release?
A lesson Mr. Biden will have learnt during his decades in Washington is that the rise and fall of gasoline costs have affected political fortunes throughout US history.
In 1973, when the US was subject to an oil embargo due to its backing for Israel, he was a congressman serving his first term. At least two presidents' political careers were aided by the standoff, which also caused petrol shortages and long lines at gas stations that are still fresh in the minds of many Americans.
In order to justify his actions, Mr. Biden has placed the responsibility for high costs on energy companies and the conflict in Ukraine.
"There are still many families who are struggling. The decisions made by other nations have an impact on our country's gas prices. I've been acting so aggressively because of this "He promised to do all in his power to lower rates in a statement on Wednesday.
He has already ordered probes into businesses, released oil from government stocks, and put pressure on large suppliers like Saudi Arabia to maintain supplies. These are not very innovative actions.
Missions to the Gulf and calls to draw on the country's emergency oil reserves when prices increase have actually been part of the Washington script for decades, as demonstrated by Bill Clinton in 2000, George W. Bush in 2005, and Obama in 2011.
Despite vowing to make Saudi Arabia a pariah during his presidential campaign, Mr. Biden visited the nation in July due to worries over petrol costs.
However, Mr. Biden's oil releases, which have totaled almost 200 million barrels since last year, have been much larger than those of his predecessors, causing reserves to be at their lowest levels since the 1980s.
According to Raad Alkadiri, managing director at the Eurasia Group, Mr. Biden's intention to use the reserves to influence the market is a significant shift.
He notes that Mr. Biden has supported other interventions as well, such as capping the price of Russian oil, in an effort to stop money from getting to Vladimir Putin, saying that "this is direct interference in the physical market and that's what's different." Once you do that action, it becomes much more common practice.
Key facets of Mr. Biden's foreign policy have also been influenced by worries over gas costs.
In an effort to mitigate the troubling drivers of the price surge, Russian energy transactions were exempted from the US's otherwise broad financial sanctions against Russia during the war in Ukraine.
And last month, in response to the Saudi-led Opec plus group of oil producers' decision to cut back on output, the White House declared that it was reevaluating its relationship with Saudi Arabia.
According to Brown University professor and head of the Climate Solutions Lab Jeff Colgan, "there's a real danger of a rupture for the first time in maybe 50 years."
Has Joe Biden reduced the price of gas?
Another question is whether Mr. Biden's efforts will have a significant impact on domestic politics leading up to the midterm elections, which will determine which party controls Congress.
While gas prices have decreased since June, when they crossed the $5 per gallon mark, they are still 15% more than they were a year ago and have recently started to rise again.
Virginian Brooke Riske, 37, claims that her family's budget has been severely impacted by the increased expenditures. She also criticizes the president for failing to find a solution, even if she doesn't blame him for the surge.
She claims, "The issue of the cost of petrol isn't the only thing driving my choice but it certainly helps confirm judgments that I've already come to. I don't think our president has the ability and I don't think he's doing a good job."
Should the US be concerned?
The White House worked hard during the summer to claim responsibility for the price decline, announcing the shift in speeches and on social media.
In a report, the Treasury Department claimed that reserve releases by the US and other countries were responsible for 17 to 42 cents of the decreases.
Republicans claim that other factors, including as worries about the economy, are to blame for the drop in oil prices and that Mr. Biden is using emergency stockpiles for political purposes while ignoring reforms in policy that would free up US oil and gas businesses.
Republican Senator John Barrasso posted on Twitter on Wednesday that "his abysmal approval rating is not a justifiable cause to continue to pillage our country's oil reserves."
The announcement made on Wednesday only extended the period rather than increasing the number of barrels distributed. The 15 million barrels would not even be enough to meet demand for an entire day.
Since domestic production has increased significantly since the stockpile was established in the 1970s, reducing reliance on imports, analysts believe the US continues to have enough supplies in the case of an emergency.
The releases cannot, however, go on indefinitely.
Mr. Biden has few options left given that he still has two years left in his tenure and that inflation is out of control, especially given that his core followers are pressing him to fulfill pledges to wean the US off fossil fuels.
The Biden administration desires reduced gas costs, but Mr. Cahill notes that progressives are generally opposed to growing US oil and gas production. "Those two are difficult to reconcile."
The government is apparently contemplating removing sanctions on oil-rich Venezuela, and officials are in talks with Iran. However, analysts said it's unclear how much that nation could offer given that its energy sector has been plagued by years of poor management and underinvestment.
The White House has also talked about restricting US energy exports, but the US energy companies—who are Mr. Biden's best bet for boosting supply—are adamantly opposed to this idea.
Their output has increased, but not as much as anticipated since businesses choose to enjoy more profits rather than make investments in projects with hazy long-term demand due to equipment shortages and worries about climate change.
On Wednesday, Mr. Biden stated that businesses should use their earnings to enhance output. He continued by saying that by promising to purchase oil to replenish the stockpiles for about $70 per gallon, the US would provide certainty.
"You continue to earn a sizable profit, and your stockholders continue to enjoy great success. Additionally, the American people receive the break they merit and pay a reasonable price at the pump "added he. We can create a sustainable energy economy for the future while enhancing our energy security at the same time.
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