OPEC Ignores Biden as Gasoline Prices Reach 7 Year High

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 reports:

The rise in gasoline prices and energy overall is going to have Republicans calling out Biden over his energy policies.

Biden’s critics pointed out his anti-oil pipeline decision.

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.

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.