Mick Mulvaney claims Biden ‘got caught flat-footed’ over OPEC+ production cuts
OPEC+ oil cuts ‘came as a surprise’ to Biden admin, former Acting White House Chief of Staff says
Former Acting White House Chief of Staff Mick Mulvaney says the Biden administration didn’t think OPEC+ oil cuts were coming.
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."
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.
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Former Acting White House Chief of Staff Mick Mulvaney argues Republicans will gain seats in the House due to Democrats’ economic policy.
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."
FOX Business’ Bradford Betz contributed to this report.