White House launches last ditch effort to dissuade OPEC from cutting oil production.

1srelluc

Diamond Member
Nov 21, 2021
51,591
74,370
3,488
Shenandoah Valley of Virginia
It’s CNN. I know.

https://www.cnn.com/2022/10/04/poli...tion-cuts-gasoline-prices-midterms/index.html

White House launches last ditch effort to dissuade OPEC from cutting oil production to avoid a ‘total disaster’

The Biden administration has launched a full-scale pressure campaign in a last-ditch effort to dissuade Middle Eastern allies from dramatically cutting oil production, according to multiple sources familiar with the matter.

The push comes ahead of Wednesday’s crucial meeting of OPEC+, the international cartel of oil producers that is widely expected to announce a significant cut to output in an effort to raise oil prices. That in turn would cause US gasoline prices to rise at a precarious time for the Biden administration, just five weeks before the midterm elections.

For the past several days, President Joe Biden’s senior-most energy, economic and foreign policy officials have been enlisted to lobby their foreign counterparts in Middle Eastern allied countries including Kuwait, Saudi Arabia, and the UAE to vote against cutting oil production.

The White House is “having a spasm and panicking,” another US official said, describing this latest administration effort as “taking the gloves off.” According to a White House official, the talking points were being drafted and exchanged by staffers and not approved by White House leadership or used with foreign partners.

Some of the draft talking points circulated by the White House to the Treasury Department on Monday that were obtained by CNN framed the prospect of a production cut as a “total disaster” and warned that it could be taken as a “hostile act.”

WTF? Doing what is best for your country is now considered a hostile act?
 
It’s CNN. I know.

https://www.cnn.com/2022/10/04/poli...tion-cuts-gasoline-prices-midterms/index.html

White House launches last ditch effort to dissuade OPEC from cutting oil production to avoid a ‘total disaster’

The Biden administration has launched a full-scale pressure campaign in a last-ditch effort to dissuade Middle Eastern allies from dramatically cutting oil production, according to multiple sources familiar with the matter.

The push comes ahead of Wednesday’s crucial meeting of OPEC+, the international cartel of oil producers that is widely expected to announce a significant cut to output in an effort to raise oil prices. That in turn would cause US gasoline prices to rise at a precarious time for the Biden administration, just five weeks before the midterm elections.

For the past several days, President Joe Biden’s senior-most energy, economic and foreign policy officials have been enlisted to lobby their foreign counterparts in Middle Eastern allied countries including Kuwait, Saudi Arabia, and the UAE to vote against cutting oil production.

The White House is “having a spasm and panicking,” another US official said, describing this latest administration effort as “taking the gloves off.” According to a White House official, the talking points were being drafted and exchanged by staffers and not approved by White House leadership or used with foreign partners.

Some of the draft talking points circulated by the White House to the Treasury Department on Monday that were obtained by CNN framed the prospect of a production cut as a “total disaster” and warned that it could be taken as a “hostile act.”

WTF? Doing what is best for your country is now considered a hostile act?
Yeah, OPEC is a real ball buster.
 
Time to start putting more resources into other forms of energy.
Hey, a solar powered community outside Fort Myers just made it through Ian with no power loss and minimal damage.

We can ditch the fossil fuels...if the will exists to make it happen.
 
Time to start putting more resources into other forms of energy.
Hey, a solar powered community outside Fort Myers just made it through Ian with no power loss and minimal damage.

We can ditch the fossil fuels...if the will exists to make it happen.
Sure. And in 75 years, maybe we won't need fossil fuels. Who knows?

:laughing0301:
 
Yeah, OPEC is a real ball buster.

We buy very little oil from OPEC. We import from Mexico, Canada and Venezuela.. after Trump put sanctions against Venezuela we increased our Russian imports dramatically.
 
We buy very little oil from OPEC. We import from Mexico, Canada and Venezuela.. after Trump put sanctions against Venezuela we increased our Russian imports dramatically.
Understood yet OPEC is out to influence the market.
 

Forum List

Back
Top