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Brady: OPEC Production Cuts Couldn’t Come at a Worse Time

“The obvious solution is to reverse these policies, maximize American energy production, cut permitting, and allow leases,” Ways and Means Republican Leader Rep. Kevin Brady (R-TX) said on Bloomberg’s Balance of Power. In a conversation with David Westin, Rep. Brady discussed how OPEC’s production cuts couldn’t come at a worse time after President Biden’s Green New Deal discouraged production and investment here in the U.S.

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President Biden’s failed attempt to beg OPEC to produce more oil has left American consumers vulnerable to skyrocketing energy prices.

“First, you know, I’d urge OPEC not to do these production cuts, either. I think it couldn’t come at a worse time, in my view, both globally, and on prices. 

“But look, this is a little bit predictable. The President went all in on the Green New Deal here in the U.S. and really has discouraged more production, certainly investment in production. 

“His standing in the world is low right now, so they don’t see any consequences for this. The obvious solution is to reverse his policies, maximize American energy production, cut permitting, allow leases – that sends a huge signal. 

“The last thing I would do, if I were president, would be to negotiate with a dictator like [Venezuelan leader] Maduro, who is cited for killing and torturing political critics. Considering him an ally in energy is simply morally wrong, financially wrong as well. We’ve got the resources here in the U.S.”

READ: Biden Hurts U.S. Consumers with Tax Hikes on American-Made Energy and Failed Gambit to Beg OPEC for More Oil

Instead of unleashing American energy production, President Biden is making the U.S. more dependent on foreign oil.

“You know, I think the President took a fresh look at it. He, for some reason, gambled, you know, that he did not have to have and build that U.S. relationship. They snubbed him and I think that was predictable as well. It never hurts to make those trips but certainly he came back empty handed and now, there are no consequences. 

“Again, I think the President could do more harm, because he’s looking now at banning exports of energy from the U.S. at a time our allies need this, especially in Europe as they’re trying to wean themselves from Russia’s dependence. So, I think we’re in a bind of his making.”

With a Republican majority next year, the Ways and Means Committee will lead efforts to strengthen America’s economy.

“We will lead the efforts to strengthen America’s economy. So you’ll see a push for less government spending, less taxes, and less regulation that drive up inflation. You’ll see a push for more American-Made energy, more workers, and certainly more effort to get this economy stabilized.”

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