The Organization of the Petroleum Exporting Countries (OPEC) is largely ignoring President Biden’s request to boost its oil production as gasoline prices in the U.S. hit a 7-year high.
The rise in gasoline prices is an emerging problem for the president since Americans are paying a dollar more per gallon than when President Trump was running the country.
Data from AAA:
OPEC decided to boost oil production by 400,000 barrels per day (bpd) in November which is a modest increase and less than what Biden wanted.
On CNBC, an oil analyst expressed concern about spiking oil costs this winter, saying, “Oil prices could experience an ‘off the charts spike’ as winter approaches and OPEC and its allies stick to their earlier pact on oil output.”
CNN: Gas prices are at the “highest point since October of 2014” pic.twitter.com/z4l1pvmmPS
— RNC Research (@RNCResearch) October 10, 2021
The rise in gasoline prices and energy overall is going to have Republicans calling out Biden over his energy policies.
Natural gas doubled past 6 months to a 7yr high. Heating oil up 68% this year. Gas is up a dollar/gallon. Coal prices at record. Montanans will literally be lift in the cold this winter under Biden. We need to get back to American Energy Independence. https://t.co/DLSpPUJKcQ
— Ryan Zinke (@RyanZinke) October 11, 2021
Biden’s critics pointed out his anti-oil pipeline decision.
— Ted Abram (@TedAbram1) October 8, 2021
Not only did OPEC not do what Biden wanted, critics are also pointing out the president asked a foreign organization to produce more energy while his policies in the U.S. are directed at less energy production.
After cancelling the Keystone pipeline, Joe Biden is now begging OPEC to pump more oil.
Americans are paying more for gas.
This is what America-last foreign policy looks like.
— GOP (@GOP) October 11, 2021
Gasoline is going higher but that’s not all.
Natural gas prices are also going higher which means higher electricity and home heating costs as well.
All of this makes Biden very vulnerable over high energy costs especially if the U.S. has a harsh winter.