Another Biden blunder felt by the entire nation—oil prices today reached their highest prices since 2014. This from thegatewaypundit.com.
KFOR out of Oklahoma reports:
Stocks fell sharply in afternoon trading Monday as Wall Street comes off its worst week since winter. The price of oil hit a seven-year high as OPEC and allied oil producers stuck with a plan to cautiously raise production even as global demand for crude oil increases…
…U.S. crude oil prices rose 2.7% and topped $77 per barrel for the first time since 2014. OPEC and allied oil producing countries on Monday decided to stay with their cautious approach to restoring oil production slashed during the pandemic, agreeing to add 400,000 barrels per day in November.
Natural gas prices jumped 2.8%. Energy companies rose along with energy prices. Devon Energy rose 6.9%.
Biden shut down pipelines after he assumed office and he prohibited drilling for oil on public lands.
Then he found himself begging OPEC to increase production after the U.S. had been an oil exporter under President Trump.
See August 11, 2021, article Biden Begs OPEC to Boost Oil Production to Combat Rising Gas Prices After Canceling Drilling and Keystone Pipeline.
No passing of the buck to be accomplished here. The increase in the price of oil is all on Biden. He’s to blame, despite what he will inevitably tell us.
