Washington, D.C. - Oil prices are surging to the largest single-day jumpsince April 2022 on news of surprise production cuts from OPEC countries. Saudi Arabia and other foreign oil producers announced they will cut production by roughly one million barrels a day, while American oil production remains well below highs achieved in 2019. In response, Daniel Turner, Founder and Executive Director for Power The Future issued the following statement:
“Only a few short years ago foreign governments were unable to use energy as a weapon against the United States. Then Joe Biden came along and made OPEC great again. Just last week, the House of Representatives passed a bill to put America back on the road to energy independence and it’s clear OPEC was paying attention. The Senate should pass H.R. 1 immediately and President Biden finally needs to put politics aside and unleash the power of American energy. Otherwise we are headed back to $4 dollar a gallon gasoline as the norm, among many other unpleasant factors."
OPEC’s production could push U.S. gasoline prices up by roughly 26 cents per gallon, according to energy experts.
Power The Future is a 501c4 non-profit dedicated to fighting for American energy workers.