"Help is on the way as of today. I think that the market will be very well supplied. The world's gonna be awash in oil. The UAE has come out of OPEC, they're going to be pumping more."
"We are cognizant that this short-term blip up in prices is affecting the American people but I am also confident on the other side of this, prices will come down very quickly."
"The stock market is looking through this. Corporate earnings are good. Employment is good. This gasoline, this temporary aberration, will be over in a matter of weeks or a month."
Treasury Secretary Scott Bessent stated that high gas prices, currently averaging $4.44 per gallon, will decline soon. He emphasized that the market will be well supplied with oil, citing increased production from the UAE and OPEC. Bessent expressed confidence in the U.S. as the leading energy superpower, noting record crude deliveries. He acknowledged the short-term impact of rising prices on consumers but assured that this situation is temporary and prices will stabilize quickly as the conflict affecting supply resolves.
Read at www.mediaite.com
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