President Joe Biden (D) said on a hot mic in Fort Myers, Florida, on Wednesday that “no one f***s with a Biden,” a remark that came hours after Russia and Saudi Arabia effectively did just that.
Biden made the comment while speaking to Fort Myers Beach Mayor Ray Murphy during his trip to survey the damage that Hurricane Ian, a near Category 5 hurricane, inflicted upon the state last week.
Biden’s remarks came after The New York Times reported that Russia and Saudi Arabia, acting as the leaders of the 23-member nation OPEC energy cartel, announced a massive reduction in oil production, a move that will likely send gas prices skyrocketing and cause political problems for the Biden administration.
The countries agreed to cut energy production by two million barrels of oil per day, which represents about 2% of global oil production.
The move is a major win for Russia, as the reduced supply will increase the price of oil, which will help Putin finance his war in Ukraine and will put additional strain on Europe’s support for Ukraine and their continued sanctions on Russia. Bill Farren-Price, the head of macro oil and gas analysis at Enverus, said, “This is completely not what the White House wants, and it is exactly what Russia wants.”
The Biden administration responded by announcing that they would release 10 million more barrels of oil from the Strategic Petroleum Reserve in November around the midterm elections.
“We are always talking to all producers and consumers, including OPEC Plus partners,” Adrienne Watson, a spokeswoman for the National Security Council, said. “That’s been the case for decades and across bipartisan administrations, including this one. We’ve been clear that energy supply should meet demand to support economic growth and lower prices for consumers around the world, and we will continue to talk with our partners about that.”
The announcement Wednesday comes three months after Biden visited Saudi Arabia and met with Crown Prince Mohammed bin Salman on a trip that was driven “in part by a desire to convince Saudi Arabia, the de facto leader of OPEC, to increase oil production which would help bring down the then-skyrocketing gasoline prices.”
OPEC initially responded by agreeing to increase production by a measly 100,000 barrels per day, leading to harsh criticisms of yet another Biden failure on the foreign policy front.
With member states such as Iran, Saudi Arabia, Venezuela, Kuwait, and Iraq, OPEC sets petroleum output targets in a bid to control worldwide energy prices. The bloc accounts for more than 80% of the world’s proven oil reserves, with 67% coming from Middle Eastern members. Russia has coordinated oil output with OPEC since 2016.
Ben Zeisloft contributed to this report.
