Biden Fails To Deliver on Oil Production Before Midterms
(TheRedWire.com) – Since President Joe Biden assumed office on January 20, 2021, gas prices have steadily risen. They hit their highest mark in June 2022, topping $5 per gallon. With the midterms fast approaching, Biden’s failure to deliver on his oil production promises could swing the upcoming midterm elections against Democratic candidates. On Tuesday, October 25, The New York Times reported that the Biden administration secured a secret deal with Saudi Arabia to increase oil production in May. In early October, it fell apart.
On October 5, OPEC and its Russian-supported allies cut oil production by two million barrels per day. The move threatened to harm oil and gas supplies and cause gas prices to rise ahead of the November 8 elections. When the writing was on the wall ahead of the OPEC+ vote, White House officials tried to pressure the Arab Kingdom, hoping they would change course. Saudi officials told the Biden administration it wouldn’t cut production. Four days later, they indicated they would support OPEC+’s cuts.
The Biden admin is falling apart https://t.co/sMXXLpuvNZ
— Daily Caller (@DailyCaller) October 27, 2022
On Tuesday, Prince Mohammed’s brother and Saudi energy minister, Prince Abdulaziz bin Salman slammed the United States, albeit indirectly. He said “nations” were tapping into emergency oil reserves to manipulate oil and gas markets. In March, Biden ordered the Department of Energy to release oil from the Strategic Petroleum Reserves. So far, the government has sold 165 million barrels, and in December will deliver 15 million more to the marketplace.
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