President Biden says he’s looking into alternatives after learning that OPEC+ will be scaling back oil production by 2 million barrels a day —a move sure to drive up prices at the pump.
“It is a disappointment,” Biden said in response to questions about the decision. “And it says there are problems.”
From Fox Business:
The move will provide an economic boost to oil producing nations like Saudi Arabia, Russia and the UAE.
But it also means gas prices will likely spike as stock levels diminish.
Biden said the White House was looking for “alternatives” but was tight-lipped on who the U.S. would turn to stave off rising prices at the pump, including whether the U.S. will ease sanctions on Venezuela to boost production.
“There’s a lot of alternatives,” he said Thursday. “We haven’t made up our mind yet.”
Apparently unleashing America’s true energy-producing potential isn’t one of the alternatives being considered by the Biden Administration.