Oil tumbles 4% as OPEC+ meeting delayed
ReutersDEC 1 2023
The Spin
Republican narrative
The Biden administration has consistently released millions of barrels of oil from the Strategic Petroleum Reserve in a short-sighted bid to reduce prices at the pump in the near term, leaving the country vulnerable to potential energy threats. A true American leader would be focused on ramping up oil output capabilities, especially while prices remain high now and OPEC+ cuts some production.
Democratic narrative
Though one may not expect Biden to boast that his administration has achieved record levels of American oil production — currently the world's highest — as he has sought to strike a fine balance between energy and climate change, it's a matter of fact that the measures he has taken to help American families have successfully forced down gas prices.