Energy Secretary Granholm Blames Rising Gas Prices on OPEC ‘Cartel’

Energy Secretary Jennifer Granholm on Sunday’s “Meet the Press” on NBC blamed rising gas prices on OPEC, which she said was a “cartel” that controls more than 50% of the petroleum supply.

Anchor Chuck Todd said, “You talked about releasing some oil from the strategic oil reserve to see if we can bring down the cost. Us that something you guys are thinking about? Gas has risen, I think a dollar since you took office, from January to now. We’ve got a problem.”

Granholm said, “Of course. The president is making sure that people are not hurt at the pump, which is why the American Rescue Plan, for example, had a significant increase in low-income heating and protections for home, etc. Gas prices, of course, are based upon a global oil market. That oil market is controlled by a cartel. That cartel is OPEC. OPEC controls more than 50% of the petroleum supply and more than 90% of the petroleum reserves. That cartel has more say about what is going on. Now, on top of it, you’ve got an oil and gas industry that can’t flip a switch after coming out of a pandemic in the same way you’re seeing with the supply chains. The president is really focused on making sure the people have relief, and he’s looking at all his tools. Let me say one thing. these rising fuel prices in fossil fuels tell us why we’ve got to double down on diversifying our fuel supply to go for clean.”

Follow Pam Key on Twitter @pamkeyNEN


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