Here's an update on last week’s story by the Wall Street Journal that President Biden pressured the Saudis to get OPEC+ to delay cutting oil production until next month's elections, to keep higher gas prices from hurting Democrats any worse than they already are.
The Saudi government confirmed that Biden wanted them to delay the production cut for a month. They claim their refusal was based on world economic conditions and was “not politically motivated” against the US. Meanwhile, an Administration official denied that Biden’s attempt to delay the cut for one month was politically motivated, saying, “It’s categorically false to connect this to U.S. elections. It’s about the impact of this shortsighted decision to the global economy.”
I feel I should mention that the impact would be pretty much the same whether it was done now or a month from now, but when Biden couldn’t stop it, he tried to delay it by one month. And just hours after the Saudis’ announcement, Biden announced that he’d be releasing more oil from our depleted Strategic Petroleum Reserve – through October.
So either he’s very concerned about people not being able to afford gas to go trick-or-treating, or he’s a lot more worried about the price of gas before early November than after early November. Why, if it has nothing to do with the elections? I guess it’s just a mystery we’ll never solve.