Biden Benefits from OPEC Oil Production Cuts

The recent decision by OPEC+ to cut oil production could trigger unified action in Washington that could ultimately work in President Biden’s favor. It might open a pathway to resolving the debt-ceiling impasse and create momentum for reforms meant to safeguard the carbon energy we’re largely dependent on today, as well as the green energy we’ll need much more of in the future. U.S. energy production has already picked up during the last 12 months, and new domestic energy provisions are becoming more closely linked to negotiations on a debt ceiling deal.