President Joe Biden is trying to blame someone else, again, for his mistake. His decision to revoke the permit for the Keystone XL pipeline and impose a moratorium on new oil and gas leasing and drilling permits for U.S. lands and water, the president has accused OPEC of being unwilling to significantly ramp up their production of oil.
His idea that Russia and Saudi Arabia and other major producers are not going to pump more oil and reduce their prices due to over production, is ridiculous and a very bad decision. Many OPEC members have shunned Biden’s pleas, and are arguing that they shouldn’t produce oil at a faster rate due to the uncertainties associated with the pandemic, as reported by Al Jazeera.
On Tuesday in Glasgow, Scotland President Joe Biden claimed that gas prices have skyrocketed due to Russia and the Organization of the Petroleum Exporting Countries (OPEC) refusing to pump more oil.
Biden was at the United Nations Climate Conference (COP26) when his remarks were in answer to a question he was asked about when Americans could expect to see every day prices coming down, including those of gas.
Biden reiterated his administration’s assertion that the uptick in consumer prices was, first and foremost, due to supply chain disruptions caused by the pandemic. “If you take a look at gas prices, that is a consequence of, thus far, the refusal of Russia or the OPEC nations to pump more oil. We’ll see what happens on that score sooner than later.”
U.S. Energy Information Administration (EIA) released a report mid-October, forecasting that American households could see their energy expenditures go up as high as 54% compared to the winter of 2021.
Biden has not acknowledged one time, that when he took office, President Trump had the U.S. free of dependency of any foreign oil for gas or energy.