OPEC Cutting Oil Production, Democrats Concerned

Above, gas prices near LAX two weeks ago. Photo by Armand Vaquer.

OPEC's decision to cut oil production has His Fraudulency Joe Biden's administration and the Democrat Party are concerned. Especially since the midterm elections are only a month away.

Californians are already seeing gasoline prices going up. But California isn't the only place where prices are rising.

Yesterday, while entering Gallup, New Mexico, we saw the average gasoline price at $3.55/gallon. Three hours later, as we were leaving Gallup, prices were up around twenty-four cents higher. 

The Los Angeles Times reported:

As gas prices hit record highs in Los Angeles on Wednesday, a pledge by OPEC+ to reduce its oil production by 2 million barrels a day brought concerns about more economic pain to come.

California is facing surging oil prices in the wake of shutdowns at several oil refineries that produce a specific grade of fuel for the state. Prices began to creep up in September after months of declines. And unlike the nationwide rise in gas prices over the summer, this most recent spike is mostly confined to California and the West Coast.

It remains unclear how the reduction would affect pump prices, but experts said it poses another threat to the shaky global economy amid growing concerns about an impending recession.

The OPEC+ move comes a month before crucial midterm elections in the U.S. President Biden and other Democrats hoped the decline in gas prices in recent months would help them with an electorate angry at rising inflation and concerned over an economic downturn.

The average price for a gallon of regular gasoline in Los Angeles ticked up to $6.494 on Wednesday, increasing five-tenths of a cent overnight, according to data from the American Automobile Assn.

Remember when Donald Trump was in the White House, we were either at energy independence or close to it. Biden's begging of OPEC didn't exactly work out.

To read the full story, go here.