President Joe Biden was outraged on October 5 when the oil-and-gas cartel OPEC+ announced that it would cut production by two million barrels of oil per day. He had reason to be angry. The dis was personal. And the move has global implications. OPEC+ includes Russia, and rising oil prices will help Vladimir Putin, undermine Europe’s ability to keep the lights on, and reduce food supply in the Global South. National Security Adviser Jake Sullivan and National Economic Council director Brian Deese released a joint statement slamming the decision as "shortsighted" and harmful for "lower- and middle-income countries that are already reeling from elevated energy prices."
Yet the White House’s true worry is domestic. Here is how you can tell: Sullivan and Deese mentioned Ukraine only once in their 311-word missive. But they brought up the proverbial gas "pump" twice and U.S. "gas prices" three times. President Biden has been around long enough to understand the special relationship between fuel prices and presidential job approval. He’s incensed that OPEC+ may have helped the Republican opposition weeks before the midterm election.
Read Full Article »