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Amid Energy Crisis Oil Supply issues cited by White House

Amid a worldwide Energy crisis that has pushed gas prices to their highest level in a decade, White House press secretary Jen Psaki said Tuesday that the Biden administration would continue to persuade OPEC countries to increase oil output. The president has various options, and he is well aware of the impact of any cost increases on the American people. On the international scene, Psaki said the administration concentrates on “supply issues as they relate to oil.” On that front, the president of the United States has the power to intervene.

That problem has been highlighted at [national security adviser Jake Sullivan’s] level and various levels throughout government. Still, our national security team will continue to focus on supply and putting extra pressure on OPEC. As economies worldwide speed up activity following the COVID-19 outbreak, oil output has lagged behind surging demand. As a result, on Tuesday, oil prices soared to a seven-year high, hitting $85 a barrel.

Amid Energy Crisis Oil Supply issues cited by White HouseAccording to AAA’s national average, gas prices are highest in ten years, surpassing $3.39 per gallon. The White House has so far refrained from taking immediate steps to lower soaring gas costs. House Republicans criticized President Biden in a letter earlier this month for pressing OPEC and emboldening known American rivals, such as Russia and Iran while pursuing anti-American Energy policies.

The congressmen accused the administration of implementing a pattern of policies that have harmed American Energy independence and contributed to the crisis, including the suspension of the Keystone XL oil pipeline and a moratorium on new oil and gas permits on federal property. In addition, the White House urged OPEC+, a group made up of members of the OPEC oil cartel and allies such as Russia, to boost oil production faster than planned in August.

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