Biden Mixes Up 'Bushels of Oil' with Grain as Shortages Continue

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Posted: May 23, 2022 3:15 PM
Biden Mixes Up 'Bushels of Oil' with Grain as Shortages Continue

Source: AP Photo/Patrick Semansky

Speaking to reporters during a joint press conference with Japanese Prime Minister Fumo Kishida Monday, President Joe Biden again warned of a food shortage. 

"We also find ourselves in a situation where we have food shortages, food shortages because of Ukraine.  There are over, there are literally millions of bushels of oil, I mean, excuse me, of grain being held up in Ukraine that would fundamentally impact positively on the market in terms of bringing down food prices across the board," Biden said. "So we're finding ourselves in a position where we're working very hard with American farmers and American manufacturing and American agricultural products to provide more fertilizer and a whole range of things. This is going to be a haul. This is going to take some time." 

But while Biden sounds the alarm, grain exports from Ukraine continue to look unlikely. 

White House officials have claimed that while the rest of the world may see a food shortage, in the U.S. Americans don't have to worry. 

Shortly after Psaki's claims, the baby formula shortage hit crisis levels. Over the weekend, the U.S. military imported baby formula from Europe after store shelves ran dry. The FDA shut down one of the nation's largest baby formula manufacturers in February and has since wrapped the plant in red tape.