“The trip was about the Middle East and about Israel and rationalization of positions.” “The trip was not essentially for oil,” the president said. Biden insisted again on Thursday that he had other goals in going to Saudi Arabia, such as encouraging diplomatic relations with Israel. While not formally announced, American officials said privately at the time that they had an understanding that Saudi Arabia and other energy powers would ramp up production by fall.īut Mr. With the price of oil falling just below $80 a barrel in recent days, the Saudis told American officials that they worried it would slide further into the $70s and possibly the $60s, making their own energy-dependent budget unsustainable. Biden and have sent papers and charts to administration officials justifying it. The Saudis maintain that the production cut was not meant as a shot at Mr. The national average rose by seven cents to $3.86 since Monday as demand increased and stocks fell, although it remained far below the peak topping $5 a gallon in June. Ryan said the race would be “the upset of the night,” but there is still a cold reality tilting against Democrats.īut gas prices had already begun inching back up even before the Saudi-led move, in part because of refinery issues on the West Coast and in the Midwest. Ohio Senate Race: Polls show Representative Tim Ryan competing within the margin of error against his G.O.P.Here are some major areas where the two sides would clash. Biden’s Agenda at Risk: If Republicans capture one or both chambers of Congress, the president’s opportunities on several issues will shrink.Governor’s Races: Democrats and Republicans are heading into the final stretch of more than a dozen competitive contests for governor. Some battleground races could also determine who controls the Senate.A Pivotal Test in Pennsylvania: A battle for blue-collar white voters is raging in President Biden’s birthplace, where Democrats have the furthest to fall and the most to gain.The State of the 2022 Midterm Elections Election Day is Tuesday, Nov. Rather than penalizing Saudi Arabia, Biden aides appeared focused more on countering its move by releasing more oil from the Strategic Petroleum Reserve and possibly seeking rapprochement with oil-pumping Venezuela. His administration counseled caution, holding out hope that at the end of the day, the cut in daily production would in reality amount to maybe half of the two million barrel goal because some oil producers were already not meeting their targets. “We haven’t made up our minds yet,” he said. Biden said that “we are looking at alternatives” to oil from OPEC Plus countries. Biden gave little indication of how far he would go.Īsked about the production cut on Thursday, Mr. “We are looking at all the legislative tools to best deal with this appalling and deeply cynical action.” “What Saudi Arabia did to help Putin continue to wage his despicable, vicious war against Ukraine will long be remembered by Americans,” he said. Putin’s Russia to shore up oil prices was a grave mistake. Senator Chuck Schumer of New York, the majority leader, said Saudi Arabia’s decision to ally with President Vladimir V. Do they really think they can trade their American security partner for a Russian security partner or a Chinese security partner? They know they can’t do that.” “He should just start withdrawing stuff,” Representative Tom Malinowski, Democrat of New Jersey, said in an interview, referring to the American military presence in Saudi Arabia. In intentionally bland comments, he told reporters on Thursday only that he was “disappointed” and considering unspecified “alternatives.” But fellow Democrats, frustrated by what they see as the president’s excessive deference to the Saudis and eager to demonstrate toughness before their constituents head to the polls, increased pressure on Mr. Biden is what to do about this seeming betrayal. Biden, who just three months ago jettisoned his vow to make Saudi Arabia a “ pariah” and traveled there to court the kingdom’s autocratic crown prince. The announcement by the Saudi-led OPEC Plus energy cartel that it would pump two million fewer barrels a day was widely seen in Washington as a stab in the back of Mr. WASHINGTON - President Biden faces a dicey choice following the decision by the world’s oil giants to slash production just weeks before critical midterm elections that could turn on the price of gasoline: Should he stick with his policy of wooing Saudi Arabia or take measures to retaliate?
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