Last week, OPEC+ announced it would slash collective oil production by 2 million barrels per day, a decrease equivalent to about 2 percent of global oil production. This cut has exposed the failures of President Biden’s energy strategy – or lack thereof – who has been too willing to outsource American energy production overseas. This strategy has left the U.S. vulnerable to the whims of foreign countries like Saudi Arabia.
The Biden administration is seemingly aware that they’re to blame for domestic energy prices. Instead of concern for Americans who are struggling to pay their energy bills, the president is more focused on how it will impact his political ambitions. The Wall Street Journal reported yesterday that the administration “implored Saudi officials to wait another month,” to announce the cut. Besides the OPEC meeting, what else is roughly in a month? The midterms. The curtain has been lifted, and Democrats have been exposed for playing politics while Americans struggle to afford gas. Furthermore, the latest reports are that the Administration is turning to Venezuela, considering easing sanctions on the South American nation in order to increase the supply of oil. It seems as if the administration will do anything but facilitate domestic production.
The Big Picture: If America fully maximized the use of its abundant oil and gas resources, we could become energy independent once again. The United States should be unleashing our own energy production, not running hat-in-hand to countries like Saudi Arabia. This administration has handcuffed the American energy industry and deepened our nation’s dependence on foreign oil – now we’re seeing the consequences.
Why it Matters: The administration was quick to claim credit for the gradual decline of gas prices following the record high in June, but now they are deflecting blame as gas prices surge again across the country.
Europe’s energy crisis should be a stark warning for the United States and President Biden’s administration. They need look no further for compelling proof that relying on foreign countries for energy is a risk to our national security.
Yet, President Biden and his administration are still kowtowing to foreign powers and OPEC instead of looking inward and unleashing American energy. America has the resources, we don’t need foreign oil. It’s high-time President Biden, and Democrats support America’s energy sector.