CNN guest warns tapping into oil reserves won't help US gas prices: 'If we don't refill’ we’re 'in trouble'

Rapidan Energy President Bob McNally told CNN host Erica Hill that Biden's plan to release one million barrels of oil per day over the next six months won't decrease the price at the pump.

"Oil prices are probably headed higher because, while the U.S. consumes about 20 million barrels a day, the right way to think about the United States adding one million barrels a day from the strategic stocks is to compare it to the amount of oil that we could lose from Russia due to Putin's invasion of Ukraine."

McNally said the one million barrels a day wouldn't be enough to address the Russia problem and that the price of crude oil around the world determines the price in the U.S. "So, unfortunately, as long as Russia poses a problem to the global oil market, a disruption risk, gasoline prices are probably headed higher," he said, explaining that a supply disruption anywhere in the world would cause a price increase everywhere."We all pay the same price, and that's determined in the global crude oil market pool."