It seems that our commander in chief is pissed off that OPEC decided to cut production of crude oil.
President Joe Biden was outraged on October 5 when the oil-and-gas cartel OPEC+ announced that it would cut production by two million barrels of oil per day. He had reason to be angry. The dis was personal. And the move has global implications. OPEC+ includes Russia, and rising oil prices will help Vladimir Putin, undermine Europe’s ability to keep the lights on, and reduce food supply in the Global South.
I would remind our president that on Day One of his administration, he did the same thing. He cut production, increased prices and started on a path of inflation that harms lower and middle income families. But, what really bothers Joe is that it comes at a time when his party is particularly vulnerable.
President Biden has been around long enough to understand the special relationship between fuel prices and presidential job approval. He’s incensed that OPEC+ may have helped the Republican opposition weeks before the midterm election.
I'm one of those guys who link presidential approval and fuel prices. I know what I paid for fuel on the last day of Trumps administration, and I consider any price above that as abject failure on the current administration.
The midterms are less than 30 days away, and rising gas prices do not bode well for the Democrats.