EVERYTHING IS GOING SWIMMINGLY: Inside the White House’s failed effort to dissuade OPEC from cutting oil production to avoid a ‘total disaster.’ “The Biden administration 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. But that effort appears to have failed, following Wednesday’s crucial meeting of OPEC+, the international cartel of oil producers that, as expected, announced a significant cut to output in an effort to raise oil prices. That in turn will likely cause US gasoline prices to rise at a precarious time for the Biden administration, just five weeks before the midterm elections.”
“It’s important everyone is aware of just how high the stakes are,” said a US official of what was framed as a broad administration effort that is expected to continue in the lead up to the Wednesday OPEC+ meeting.
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.
The situation’s so desperate, he may have to allow domestic drilling and pipelines.
Nah, that’s crazy talk. . . .
Seriously, allowing domestic drilling puts money in the hands of an industry and a worker demographic that Democrats regard as enemies. Better we should send that money to Russia, Venezuela, or Saudi Arabia.