Throughout his career, Joe Biden has billed himself as a “foreign policy expert.” That expertise doesn’t appear effective at the moment. When the American people need relief on energy prices (mostly because of Biden’s anti-energy policies), the Saudi Arabian government is working with Russia to raise oil prices. The Daily Mail reports on the snub:
American drivers could face another increase in gas prices as the OPEC+ alliance announced it is cutting oil production by up to two million barrels a day in what could end up being a massive setback for the Biden administration.
Energy ministers from the OPEC cartel, whose leading member is Saudi Arabia, and allied non-members including Russia met in person at the group’s Vienna headquarters for the first time since early 2020.
Their announced production cutback on Tuesday is the largest since the start of the COVID-19 pandemic.
It stands to be a big boost for Moscow, despite the West’s efforts to choke off oil and gas revenues as a source of cashflow funding Russia’s illegal invasion of Ukraine.
It comes after oil barrel prices dropped roughly a quarter in just three months, now around $90, amid fears of a looming global recession.
President Joe Biden was asked about OPEC+’s decision as he boarded Marine One ahead of a visit to hurricane-ravaged Florida but told reporters he ‘needs to see the details.’
The announcement’s effect on the pumps is not yet certain, but the decision as left the Biden administration scrambling to avoid a ‘total disaster’ according to a CNN report.
OPEC’s decision after their Wednesday meeting could force prices at the pump back up after the White House celebrated them falling at a record pace this summer. They have already begun to inch back up in recent weeks.
But a sudden spike would be an especially concerning setback with the November midterm elections just over a month away.
One official told CNN that the White House is ‘having a spasm and panicking’ over the potential outcome.
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