From OilPrice:
- National Security Council: White House is ready to deploy 'tools' to address oil price increase
- Biden Administration continues to work with oil-producing countries and continues to 'monitor' prices in the context of global economic growth
The Biden administration stands ready to deploy its tools to address the latest increase in oil prices, a spokeswoman for the National Security Council said this week.
"We continue to work with producer and consumer countries and these steps have had real effects on prices and ultimately tools continue to remain on the table for us to address prices," Emily Horne said, as quoted by Reuters.
"We will continue to monitor prices in the context of global economic growth and engage our OPEC+ partners, as appropriate." Horne also said.
Last year, President Biden called on OPEC to increase production in response to rising crude prices, but the cartel declined. A harder stance followed, in which the White House said OPEC and Russia were contributing to higher bills for the American working class and again insisted that the extended oil cartel boost production by more than its originally agreed 400,000 bpd monthly.
"I do think that the idea that Russia and Saudi Arabia and other major producers are not going to pump more oil so people can have gasoline to get to and from work, for example, is not, is not, right," President Biden said in November....
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Keeping in mind the Chaos prism through which we view such situations, it would appear this is exactly the position someone or someones desired.
—Franklin D. Roosevelt
Possibly related:
CNN "Should the government control the price of food and gas?"
