“It is no surprise that the international oil cartel is seeking to maintain high prices,” said a campaigner with Food & Water Watch. “Political leaders here at home must understand that the solution is not to increase drilling.”

By Jake Johnson  Published 10-5-2022 by Common Dreams

Rafael Mariano Grossi, IAEA Director General met with HRH Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy of the Kingdom of Saudi Arabia, during a bilateral meeting at the IAEA 65th General Conference held at the Agency headquarters in Vienna, Austria. 20 September 2021. Photo: IAEA Imagebank/flickr/CC

The Biden administration and Congress faced new pressure Wednesday to reinstate a ban on U.S. gasoline exports after the Saudi-led Organization of the Petroleum Exporting Countries agreed to slash oil production by two million barrels a day to boost prices, a move that drew outrage from the White House and some congressional Democrats.

U.S. National Security Adviser Jake Sullivan and National Economic Council Director Brian Deese said in a statement that President Joe Biden is “disappointed” by OPEC’s decision and will consider “tools and authorities to reduce OPEC’s control over energy prices.” Continue reading →