Oil is controlled by OPEC, Energy Secretary said.
At the international climate change conference in Glasgow, Scotland, President Biden was asked about the rising inflation, including prices at the gas pump. He said, “If you take a look at gas prices, and you take a look at oil prices, that is a consequence of, thus far, the refusal of Russia or the OPEC nations to pump more oil. And we’ll see what happens on that score sooner than later.”
On Thursday, when asked a question about America possibly boosting domestic oil production to help with rising gas costs, Energy Secretary Jennifer Granholm called it “hilarious.” She laughed, “Would that I had the magic wand on this.”
The energy secretary stated, “As you know, of course, oil is a global market. It is controlled by a cartel. That cartel is called OPEC, and they made a decision yesterday that they were not going to increase beyond what they were already planning.”
Since January, President Biden has signed a series of broad executive orders that have been sweeping policy changes on how the U.S. approaches the oil industry.
In August, 24 senators wrote a letter to the president calling it “astonishing that your administration is now seeking assistance from an international oil cartel when American has sufficient domestic supply and reserves to increase output which would reduce gasoline prices.”
The senators added, “Your administration’s domestic oil and gas development policies are hurting American consumers and workers, are contrary to an ‘America First’ energy agenda, and reinforce a reliance on foreign oil.”
As the Lord Leads, Pray with Us…
- For the president’s administration as they hesitate to consider reopening domestic oil production.
- For the president and his advisors as they focus on environmental issues over consumer supply and pricing.
- For the administration to seek a balance between the nation’s oil industry, oil leases and pipelines, and climate and environmental issues.
Sources: Politifact, Bloomberg News, Fox News
