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OPEC+ oil cuts ‘came as a surprise’ to Biden admin, former Acting White
House Chief of Staff says

After the Biden White House announced it would release 10 million more
barrels of oil from the U.S. Strategic Petroleum Reserve just one day
after claiming it wasn’t considering new releases, former Acting White
House Chief of Staff Mick Mulvaney called out the administration’s bluff
on "Mornings with Maria."

"When the press secretary yesterday says they're not preparing or
considering any additional releases, and then they immediately do it 24
hours later, it means that they didn't expect these cuts," Mulvaney told
FOX Business’ Maria Bartiromo Thursday. "These cuts came as a surprise to them."

Mulvaney further explained his belief that the administration likely
relied on insight that the Organization of the Petroleum Exporting
Countries (OPEC+) was not going to cut production, and that, when the announcement came OPEC+ was cutting 2 million barrels per day, the White
House was unprepared.

"They got caught flat-footed. If they knew those cuts were coming or
expected that they would have come, they would have developed a plan
beforehand and immediately announced the SPR reserve as sort of a way to
blunt the damage to the economy," Mulvaney said. "But that didn't happen."

MANCHIN SAYS OPEC+ DECISION TO CUT OIL PRODUCTION SHOWS U.S. MUST
EMPHASIZE ‘ENERGY INDEPENDENCE AND SECURITY’

OPEC+’s decision Wednesday to sharply cut production to support sagging
oil prices is anticipated to deal another blow to the struggling global
economy and raise politically sensitive pump prices for U.S. drivers just
weeks ahead of the midterms.

President Biden "got caught flat-footed" by OPEC's announcement it's
cutting oil production, Mick Mulvaney said on "Mornings with Maria"
Thursday, October 6, 2022. (Fox News)

The former Chief of Staff and Office of Management and Budget director emphasized Biden had "no idea" the cuts were coming because the admin
doesn’t "understand what’s happening in the world."

"There's no reason we cannot be supplying more gas and oil into our own markets. We were net exporters of energy under Donald Trump. The Biden administration has completely tied our hands," Mulvaney noted. "It's a
naive group of people running the country right now, and we're paying the
price for it."

Mulvaney guessed that Americans could see an additional $0.30 per gallon between now and November’s midterm elections.

"This probably makes 5 to 10 seats go Republican in the House simply
because of the ineptitude of the Biden administration," the former acting
chief of staff said.

Looking ahead to the midterms, Mulvaney predicted Biden’s handling of
rising gas and food prices could make a "big difference" in swing voters’ ultimate decision.

"When you elect Joe Biden and the Democrats, your cost of living goes up because of their policies and because of their ineptitude," Mulvaney said. "You'll see a considerable [Republican] pickup in the House, in large part because of Democrat policies."

https://www.foxbusiness.com/politics/mick-mulvaney-claims-biden-caught- flat-footed-opec-production-cuts

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