Earlier this week, U.S. Senator, Chuck Grassley, called on the Biden Administration to take action against the rising price of fuels across the country. The sole action taken to date, has been the release of some oil from reserves. Grassley says this is not a long-term solution.
The problem we have today, according to Grassley, goes back to this administration’s policies since the beginning of Biden’s term.
He points to inconsistencies as well.
Grassley has called on Biden to support a lawsuit against OPEC (Organization of the Petroleum Exporting Countries), which was created to ensure pricing uniformity in the petroleum industry and fair returns to investors. This, Grassley says, is a mission not being met and he wants to bring back previous legislation dubbed NOPEC.
NOPEC was non-partisan legislation introduced when President Biden was serving as a Senator for the state of Delaware.
This, Grassley stresses, is the only way he knows of to bring OPEC to heel.
