President Joe Biden is absurd for wanting to purchase oil from Iran and Venezuela, says former Trump economic adviser Stephen Moore.
"This may be a bigger scandal than the Hunter Biden scandal," Moore told Newsmax's "The Chris Salcedo Show" about Biden's risky diplomatic outreach with Saudi Arabia in July.
"When Trump left office, we were energy independent. We were actually exporting oil and gas. The price of gasoline at the pump was about $2.50 a gallon. It's going way up again.
"Everything Biden has done in his war against American energy has led to higher energy prices and more dependency. And not just the OPEC countries. ... How completely absurd is it that he wants to now get our oil from Iran and Venezuela. Somehow, he thinks that makes more sense than getting it from Texas and Alaska."
Biden on Friday said he would release 10 million barrels from the Strategic Petroleum Reserve to the market after the Organization of the Petroleum Exporting Countries (OPEC) said it would slash oil production by 2 million barrels a day due to "the uncertainty that surrounds the global economic and oil market outlooks."
The White House said Biden was disappointed by the "shortsighted decision" as the global economy still deals with the effects of Russia's invasion of Ukraine. In addition, The Wall Street Journal reported soon after that the Biden administration was preparing to scale down sanctions on Venezuela's authoritarian regime to allow Chevron Corp. to resume pumping oil there if the government of Venezuelan President Nicolás Maduro would resume long-suspended talks with the country's opposition about free and fair presidential elections in 2024.
Biden on Thursday told reporters his administration was eyeing several responses to the OPEC cut.
"There are a lot of alternatives, and we haven't made up our minds yet," Biden told reporters Thursday.
Moore said the approach is a national security issue.
"When you look at the countries that we're putting money into now — Russia, China, Iran, Venezuela, many of these Middle Eastern countries that are hostile to the United States. It's almost as if we are intentionally empowering and funding our enemies," said Moore.
"Biden is trying to destroy" the coal, oil and gas industries, he added.
"Where are we going to get our electric power? Where are we going to get the fuel for our cars?"
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