Sec. Yellen Says Biden Policies Are Not Responsible For Gas Prices, But Admits ‘Production Is Down’

TRANSCRIPT:

YELLEN: "Well, I — I don’t think that policies are responsible for what’s happening in the oil market. Actually, consumption of gas and fuels are currently at lower levels than pre-pandemic. And what’s happened is that production has gone down. Refinery capacity has declined in the United States, and oil production has declined."