Joe Biden Hosts Virtual Climate Meeting Amid High Gas Price Pressure

Biden repeated his goal to lower gas prices that are averaging a record $5 a gallon in the U.S. while also shifting away from fossil fuels to limit climate change.

WASHINGTON (AP) — President Joe Biden, who has recently been focused on boosting oil production to reduce rising gasoline costs, turned his attention to climate change on Friday when he convened a virtual meeting of some of the world’s biggest economies.

Among the participants are China, Germany, Saudi Arabia, the United Kingdom and the European Union. Also present is Egypt, which is hosting the next United Nations summit on climate change, and the U.N. secretary general, António Guterres.

Biden reiterated his goal to lower gasoline prices that are averaging a record $5 a gallon in the U.S. while also shifting away from fossil fuels in order to limit climate change and the risks it presents.

“I’m using every lever available to me to bring down prices for the American people,” Biden said. “But the critical point is that these actions are part of our transition to a clean and secure and long-term energy future.”

The conference is known as the Major Economies Forum on Energy and Climate, and it began under President Barack Obama in 2009.

President Joe Biden speaks during the Major Economies Forum on Energy and Climate in the South Court Auditorium on the White House campus, on June 17, 2022, in Washington.
President Joe Biden speaks during the Major Economies Forum on Energy and Climate in the South Court Auditorium on the White House campus, on June 17, 2022, in Washington.
Evan Vucci via Associated Press

Among the priorities are slashing methane leaks and getting more zero-emission vehicles on the roads.

Biden administration officials, insisting on anonymity to discuss the event, said they expect some of the countries to announce more ambitious climate targets as part of the landmark agreement reached in Paris in 2015.

Biden sounded the alarm on extreme weather events in an Oval Office interview on Thursday with The Associated Press.

“We have more hurricanes and tornadoes and flooding,” he said. “People saw what — I took my kids years ago to Yellowstone Park. They call me, ‘Daddy did you see what happened at Yellowstone, right?’ Well, it’s unthinkable. These are 1,000-year kinds of events.”

President Joe Biden speaks during an interview with the Associated Press in the Oval Office of the White House, on June 16, 2022, in Washington.
President Joe Biden speaks during an interview with the Associated Press in the Oval Office of the White House, on June 16, 2022, in Washington.
Evan Vucci via Associated Press

But the Russian invasion of Ukraine has scrambled Biden’s climate goals by driving up the cost of gas. Facing political pressure to get prices under control in a midterm election year, the Democratic president has urged U.S. oil refiners to produce more fuel even as companies say they lack the long-term incentives to do so because the administration is accelerating the move to clean energy.

“Well, I say in the short term, do the right thing,” Biden said Thursday, stressing his view that energy companies should increase production instead of trying to maximize their profits.

Biden is also expected to visit Saudi Arabia next month. The White House recently praised the kingdom after OPEC+ announced that it would pump more oil to boost the global supply.

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