The OPEC+ decision to dramatically cut its oil output targets has left the White House grappling with a complex – and potentially damaging – mix of geopolitical and domestic challenges with few easy answers
. President Joe Biden now faces the reality that an already complex and tenuous bilateral relationship with Saudi Arabia has deeply fractured, the Western effort to isolate and shrink Russia’s war effort has taken a direct hit and the US economy and political picture have both grown more fragile. “Disappointment. We’re looking at what alternatives we may have” to bring down oil prices, Biden told reporters when asked his reaction to the OPEC+ news. “There’s a lot of alternatives.
Congressional role One notable line in the White House statement issued Wednesday by National Economic Council Director Brian Deese and national security adviser Jake Sullivan statement was the idea of working with Congress on legislation related to OPEC. It’s a reference to a bill that would remove sovereign immunity from antitrust suits, opening the door for the US to sue cartel members.
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