Why are oil prices so high? And what can be done about it?

Posted on AllSides November 10th, 2021
From The Center
MATTHEW BROWN | AP
ANALYSIS

President Joe Biden faced an awkward moment during the international climate change conference in Glasgow, Scotland, when he was asked at a press conference about inflation back home, including gasoline prices.

“If you take a look at gas prices and you take a look at oil prices, that is a consequence of, thus far, the refusal of Russia or the OPEC nations to pump more oil,” Biden said Nov. 2 at the United Nations’ COP26 summit. “And we’ll see what happens on that score sooner than later.”

OPEC is the group of 13...

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