‘We have no leverage over OPEC’ due to Biden’s policies and debt held by OPEC

During Tuesday’s broadcast of Fox News Channel’s “Fox News @ Night,” Senator Marsha Blackburn (R-TN) argued that because of the Biden administration’s energy policies and the large debt owned by OPEC member countries, the United States has “no leverage” with the organization to urge it to avoid cutting production.

Blackburn said, [relevant remarks begin around 2:20] “[W]What we do know is that the White House wants to say, well, that’s a nuanced question. There is nothing nuanced about being intentional in what you do. Day one, declare the end of the Keystone pipeline, end offshore, put a million acres in Alaska out of reach, no new leases, end fracking, tap into the billion dollar strategic petroleum reserve barrels a day with no plan – I mean, millions of barrels a day, no plans to fill that up, no plans. So, of course, the price goes up. And interestingly, OPEC will vote tomorrow on whether or not it wants to limit production. And we have to keep in mind that we have no influence over OPEC. The OPEC countries together are one of the top five holders of US debt. We have no influence in this fight.

Follow Ian Hanchett on Twitter @IanHanchett


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