The decision by the Organization of the Petroleum Exporting Countries and allies (OPEC+) to cut its production quota in November prompted White House officials to look for options to respond to the measure.
US lawmakers advocate the creation of laws focused on dismantling the cartel, prosecuting it under the World Trade Organization (WTO) or even taking assets from its members in the United States.
White House officials said they would respond to Wednesday’s action with more releases from the government’s strategic reserves, among other potential options. They also pledged to “consult Congress on additional tools and authorities to reduce OPEC’s control over energy prices.”
“We are returning to a period of protracted hostility between OPEC and the US,” said David Goldwyn, who worked on international energy affairs in the Departments of Energy and State during the Clinton and Obama administrations.
“A production cut of this size – when inflation is ravaging global growth and Europe is struggling to access alternative supply in the face of Russia’s aggression against Ukraine – is a declaration of economic and diplomatic war,” Goldwyn pondered.
Source: CNN Brasil
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