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Thank you for joining me tonight. what are these ideas, because as president biden spoke about, as your colleagues spoke about, you're open to ideas. what are the ideas you have for the table and for the american people? >> you know, look, laura, i think the president is leveling with people and letting them know that these gas prices are global phenomenon, that they are very much caused by the unthinkable war of aggression in ukraine. you know, that's not a shift of blame. that's just a description. prices were $3.31 on january 17th when putin started doing military exercises in belarus. they...

Pandemic that has led across the globe to supply shocks, higher prices, that have been very frustrating to families of the united states, and families across the world. and then, at a time when gas prices were $3.31 on january 17th of this year, putin moves forces and belarus and the border of ukraine, and now we are over $1 higher. these two factors, you know, again, everywhere in the major global economies has meant the frustration for many families of having higher prices. and often in countries that haven't seen historic job growth, or the comeback in growth that the united states has. so ...

Everything possible that a president can do. he has had historic supply spro, strategic petroleum release, 1 million per month going up. >> john: but that doesn't help -- >> look, as we went into january there was a lot of feelings that things would start to come down, and then on january 17th if you remember, on january 17th when russia first went to the border of belarus, gas prices were at 3.31. they have now gone up since putin's aggressive and inexcuseable behavior to 4.37. so it's over a dollar putin's tax. >> jacqui: but it's not just gas prices going up, it is food prices. i want to sh...

Create excess demand, create higher inflation, which is exactly what happened and i think the other point is energy policies. i mean, look, the bidens have run a war on fossil fuels, and that is responsible for most of the increase in oil prices and gasoline prices at the pump. i think there's a case to be made in the last 4, 5 weeks, six weeks, but with respect to putin, but i was interested that gene sperling said as of january 17th, kind of an early date, but there was no invasion until later. but he said gasoline was 3.31. well, that's interesting because it was $1 less than that six month...

According to aaa. that could have political consequences for president biden, his larger agenda, and bianna, the oil markets seem to be pointing toward higher oil prices this year, too. >> some predictions that they could go up to $100. cnn's matt egan joins us from new york. matt, u.s. consumers, as we know, are already feeling anxious with high inflation. the biden administration had been pointing to lower gas prices over the past few weeks, so what are they saying now about this sudden increase? >> well, jim and bianna, alarm bells have got to be ringing inside the white house over energy p...