OPEC decision will only force gasoline, energy prices higher, say lawmakers

After the Organization of the Petroleum Exporting Countries OPEC agreed to slash oil production, congressional lawmakers criticized the United States' continued reliance on foreign energy.

The OPEC decision would only force gasoline and energy prices higher for American workers, according to Republican lawmakers.

The danger of relying on our adversaries for energy is that Americans will feel the consequences of this decision when prices go up at the pump, said Rep. Markwayne Mullin, R-Okla. "We need to unleash American energy production," said Rep. Billy Long, R-Mo. It is ridiculous that we are relying on foreign powers for oil when we were a net exporter of energy less than two years ago. The OPEC is taking advantage of President Biden's reliance on foreign oil and slashing supply, which will drive up prices that Louisianians pay, said Sen. John Kennedy, R-La. It is as simple and sad as that. Chairman of the Republican Study Committee Jim Banks agreed that while many were fretting about OPEC domestic oil production has fallen under Biden.

U.S. oil production is down 1.2 million barrels per day since President Trump, according to Banks, R-Ind. President Biden pushed overseas dictators to increase oil production, but they rejected him, said Sen. John Barrasso of Wyoming, the top Republican on the Senate Energy Committee. The Democrats are trying to deal with an energy crisis that was caused by their extreme policies. Democrats pointed out the decision as proof that the U.S. needs to stop reliance on foreign oil companies and embrace clean energy.

Senate Environment Committee Chairman Tom Carper, D-Del said that the OPEC announcement should serve as a reminder to all of us that true American energy independence comes from clean energy.

The sooner we can decarbonize our economy, the sooner we don't have to worry about this, said Rep. Sean Casten, D-Ill. It is the same for foreign producers as domestic producers. MARC THIESSEN: IT'S A Not every Democrat has called for an end to fossil fuels. Senate Energy Committee Chairman Joe Manchin said the decision of the OPEC was another reason to boost domestic production.

Manchin, D-W. Va, said we have been blessed with an abundance of domestic energy resources that we can produce cleaner than elsewhere in the world, and that we have the ability to ensure energy independence and security for ourselves and our allies.

The OPEC announced on Wednesday it was slamming oil production by two million barrels a day. The decision came after the White House pushed leading OPEC members like Saudi Arabia not to make drastic cuts in production and energy prices higher for U.S. consumers.

The President is disappointed by the shortsighted decision by theOPEC to cut production quotas while the global economy is dealing with the negative impact of Putin's invasion of Ukraine, the White House said in a statement. This decision will have a negative impact on the lower and middle-income countries that are already reeling from elevated energy prices, because it is of paramount importance to maintain a global supply of energy. The price of oil dropped from $120 to $90 a barrel earlier this year due to fears of an economic downturn in the wake of rising interest rates.

Since then, OPEC has cut production in an effort to drive up the price of oil on the global market. The surging price of oil is likely to affect prices at the pump, since gasoline is derived from petroleum.