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Biden’s Shortsighted Energy Policy Reaps Wretched Dividends

Did OPEC+ aim to weaken President Biden before the midterms?

President Joe Biden being welcomed by Saudi Arabian Crown Prince Mohammed bin Salman at Alsalam Royal Palace in Jeddah, Saudi Arabia on July 15, 2022. (Photo by Royal Court of Saudi Arabia / Handout/Anadolu Agency via Getty Images)

We have repeatedly criticized President Biden from Day One as he embarked on a shortsighted energy policy that was tantamount to self-flagellation. He signed executive orders to halt new oil and natural gas leases on public lands and water. Aspiring to be "non-Trump," he canceled the Keystone XL pipeline. It could have transported about 830,000 barrels per day to Nebraska. We have yet to figure out the wisdom of not drilling in the U.S. but begging dictators worldwide for oil and gas.

On Wednesday, reacting to the OPEC+ announcement that they would cut production by 2 million barrels per day (BPD), National Security Adviser Jake Sullivan and Biden’s economic adviser Brian Deese stated that Biden was "disappointed by the shortsighted decision by OPEC+."

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