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Biden Administration Sounds Alarm On Rising Energy Prices

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File: President Joe Biden (AP Photo/Susan Walsh)

(AP) — President Joe Biden’s administration is raising alarms at home and abroad about rising energy prices slowing the nation’s recovery from the pandemic-induced recession. National Security Adviser Jake Sullivan on Wednesday called on the Organization of the Petroleum Exporting Countries to move faster to restore global supply of petroleum to pre-pandemic levels, as the White House asked the Federal Trade Commission to investigate the domestic gasoline market for any anti-competitive behavior that could be increasing prices. The joint actions on Wednesday come as the Biden administration is increasingly sensitive to rising prices across the economy as it faces both political and policy pressure from inflation.

 

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