President Joe Biden has raised more than a few eyebrows with his decision to drain the strategic petroleum reserve this year. However, lawmakers are now suggesting that the commander-in-chief made a deal with leaders in Saudi Arabia to “lower gas prices before the election,” only to pivot back to making policy decisions based on the Green New Deal once it was over.
According to a report from Just the News, Oversight committee Republicans are launching an investigation into the matter that is currently being led by Rep. James Comer from Kentucky.
“Comer sent letters to several Biden administration officials, demanding documents, records and communications on the the matter. One of those letters, dated Dec. 4, went to Secretary of State Antony Blinken, raising questions about Biden’s Saudi Arabia trip over the summer,” the report continued.
“The New York Times reported that Biden Administration officials believed President Biden’s trip to Saudi Arabia in August 2022 ‘could shore up a Saudi commitment to convince OPEC to increase oil production.’ Instead, on October 5, 2022, Saudi Arabia and the Organization of the Petroleum Exporting Countries and its affiliates (OPEC+) slashed production by two million barrels a day. According to press reports, this decision infuriated the Biden Administration officials who sought the deal to provide temporary fuel price reductions before the November midterm elections,” the letter stated. “If the Administration is brokering secret agreements to the detriment of American energy producers and for campaign purposes, the American people deserve to know.”
Gas skyrocketed to obscene highs over the summer, going over $5 per gallon for regular gasoline, before finally dipping down a bit. As of now, the average price for a gallon of gas is hovering around $3.40 per gallon. This price was only reached due to the help received from 200 million barrels of oil released from the Strategic Petroleum Reserve. While prices are lower than they were in June, they’re still a whole heck of a lot higher than when Biden took office.
“Biden reportedly hoped those reserves and cooperation from OPEC would get prices down and help Democrats fend off midterm losses. OPEC announced it would cut production, which was expected to increase prices, but not until November. Whether intentional or not, this delayed most price increases until after election day. Notably, gas prices have steadily dropped in recent weeks, regardless of OPEC’s decision, at least for now,” Just the News said.
Officials in the Biden administration are reportedly looking to purchase oil in order to restock the reserves. However, it will be at a high cost to American taxpayers thanks to the increased prices. Critics have slammed Biden because they believe he’s used foreign relationships and American tax dollars to artificially lower the price of gas before the midterms in order to boost Democrats.
“Joe Biden released millions of barrels from the strategic reserve because in his mind, there was a huge emergency: Democrats were at risk of losing the Senate,” Daniel Turner, head of the energy workers advocacy group, Power the Future, went on to say. “And now America has perilously low reserves, and Biden will have to refill them at a premium, but this all makes sense when you understand all Biden has ever cared about is power.”
Biden has been adamant in the defense of his energy policies, noting that he succeeded in bringing gas prices down from record highs earlier in the year. The president seems to be forgetting that the extreme increase in the cost of gas was largely his fault due to closing down the Keystone XL Pipeline and making it more difficult to obtain drilling permits.
You can’t get praise for cleaning up the mess you made when all you did was sweep it under the rug and pretend like it doesn’t exist.
The investigation into the possible deal between Biden and the Saudis is one of several that GOP lawmakers are planning to launch when they take over the House in January.
“Oversight Republicans have pushed senior Biden Administration officials for answers and will continue to seek their plans to reverse energy policies detrimental to the American people and our national security,” Comer remarked. “With the power of the gavel, we will hold the Biden Administration responsible for recklessly attacking a critical industry that provides the American people affordable energy and good-paying job opportunities.”
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