Biden Team is Seeking Ways to Address Rising Energy Prices
WASHINGTON (AP) — President Joe Biden’s administration is moving at home and abroad to try to address concerns about rising energy prices slowing the nation’s recovery from the pandemic-induced recession.
National security adviser Jake Sullivan is calling on the Organization of the Petroleum Exporting Countries to move faster to restore global supply of petroleum to pre-pandemic levels.
And the White House has asked the Federal Trade Commission to investigate the domestic gasoline market for any anti-competitive behavior that could be increasing prices.
The joint actions come as the Biden administration is increasingly sensitive to rising prices across the economy as it faces both political and policy pressure from inflation.