The Biden White House on Wednesday lambasted OPEC and its allies for what it called a “shortsighted decision” to cut oil production by two million barrels per day. The move could lead to even higher gas prices in the United States.
National security adviser Jake Sullivan and economic advisor Brian Deese released a statement on Wednesday criticizing the decision by OPEC. [bold, links added]
The US Strategic Oil Reserves are nearly half empty already due to Biden’s continued release of barrels in order to offset costs, while his administration hinders domestic oil production.
“At a time when maintaining a global supply of energy is of paramount importance, this decision will have the most negative impact on lower- and middle-income countries that are already reeling from elevated energy prices,” Sullivan and Deese said in a joint statement. They also said that President Biden was “disappointed” by OPEC’s decision.
No immediate steps will be taken in response to OPEC’s decision, though Biden said that more oil would be released from the Strategic Petroleum Reserve “as appropriate to protect American consumers and promote energy security.”
“The President is also calling on U.S. energy companies to keep bringing pump prices down by closing the historically large gap between wholesale and retail gas prices — so that American consumers are paying less at the pump,” Sullivan and Deese said in their statement.
The White House used the news as an opportunity to push its green agenda, saying that the announcement highlights the importance of moving away from reliance on fossil fuels.
“The announced cut from OPEC+, which includes the 13 OPEC nations and 11 non-members including Russia, is roughly equivalent to 2 percent of global supplies,” reports The Hill.
In March, the Biden administration announced an unprecedented release of barrels from the strategic reserves in an attempt to drive down rising gas prices.
Prices at the pump gave Americans sticker shock throughout the summer, with prices increasing to over $6 per gallon in some areas where taxes are already high, such as California.
The administration sold nearly 1 million barrels of oil from the US strategic reserves to Chinese interests.
Read rest at Post Millennial
There is NOTHING GREEN about energy that doesn’t work when the sun doesn’t shine and the wind doesn’t blow. Coal, oil, and gas are the ONLY GREEN ENERGY because they not only make us the best fed, longest living, most prosperous human beings that have ever lived. In addition, they recycle the two most important ingredient molecules of life on earth – CO2 and H2O. If so-called journalists were taught even the basics of biology, the science of the environment, the public would know without a doubt that more recycled CO2 has made life greener, stronger, more drought tolerant, and abundant. But since journalists and far too many grade school teachers do not know this, they elect doddering old fools like Joe Biden. You get the government you deserve in democracies. Deserve better. Do your homework.
Biden ran straight into a trap of his own making. It was expected that the strategic oil reserves would be replenished with lower priced crude.
OPEC+ is able to prevent that from happening. Why should OPEC help the donkeys get re-elected? The Democrats are trying to put oil producers out of business.
The leftists are idiots all the way around.
The song Irresponsible should be Bidens Theme Song because he is irresponsible