Energy Secretary Jennifer Granholm laughed off the notion of encouraging more domestic oil production to blunt high gasoline prices and said matters are exclusively in OPEC’s hands.
“That is hilarious,” Granholm responded while laughing to Bloomberg Surveillance host Tom Keene’s question about the “Granholm plan” to increase oil production in America.
“Would that I had the magic wand on this,” Granholm said. “As you know, of course, oil is a global market. It is controlled by a cartel. That cartel is called OPEC.”
OPEC+ REJECTS BIDEN CALLS TO INCREASE PRODUCTION
When @TomKeene asks @SecGranholm the very pertinent question on whether America (and no OPEC+) needs to increase oil production. The response, amid laughing: “That’s hilarious” #OOTT pic.twitter.com/LToWUIxTb0
— Javier Blas (@JavierBlas) November 5, 2021
Granholm brought up OPEC’s and its allies’ recent decision not to stray from its plan to increase production by 400,000 barrels per day next month despite the Biden administration urging the cartel to produce more than that to reduce prices.
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Republicans have been especially critical of the administration for leaning on OPEC to boost global oil supply while seeking to undo Trump administration policies favoring production and pursuing policies to limit fossil fuel production and use, such as through President Joe Biden’s early orders revoking the Keystone XL pipeline and pausing new oil and gas leases on federal lands.
“We will not ask OPEC to solve our problems,” House Republican Leader Kevin McCarthy said in an energy roundtable with fellow GOP lawmakers last week. “We can solve them here in America.”
