Guest Post by Martin Armstrong
The Davos in the Desert meeting has humiliated Washington. The president himself was unable to secure a deal with Saudi Arabia, and now America’s elite are congregating in Riyadh to discuss trade. The New York Times released an article claiming that Saudi Crown Prince Mohammed bin Salman “duped” Joe Biden into thinking that he would increase oil production. Now, the White House is claiming that Joe’s failed visit to Saudi Arabia had nothing to do with oil.
Perhaps Uncle Joe was working on his tan? White House Press Secretary Jean-Pierre said that the situation has been “mischaracterized” and said the NYT article was fake news. “Look, we’ve also been clear that, our trip, that the President’s trip to the Middle East was not about oil,” she stated. “What the President is focused on currently and today and has been for the past several months since the war started — remember, because of Russia’s war, we have seen a spike in gas prices, so as you hear us say, Russia’s tax hike, and so, we have done everything that we can and continue to do the work — the President has — to lower the prices for the American people. That’s why you have seen gas prices go down.”
Blame is on “Russia’s tax hike” and not Washington’s inability to negotiate or maintain diplomatic relations with strategic trading partners. The NYT article claims that the kingdom promised it would “accelerate an OPEC Plus production increase of 400,000 barrels per day already planned for September” followed by an additional 200,000 bpd increase from September to December. OPEC+ decreased production by 2,000,000 bpd instead.
Due to this failed arrangement, oil prices rose right before the 2022 US midterm elections. Biden released Strategic Petroleum Reserves in response to temporarily bring prices down, as he does not want America to see the repercussions of this failed deal.
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Our current fossil fuel problems have nothing to do with Saudi Arabia. It is solely due to FJB’s war on OUR fossil fuel production. We were energy independent when he took office. Blaming the Saudi’s or Russia is just pure bullshit.
They can play it any way they want. Hadji took his ball and went home. That’s a big FJB from the towel heads of the world. Deal with it.
Good distraction, we have the oil here in the USA, Biden’s actions have reduced our output and yet what is getting reported is this failed attempt at trying to get oil production increased by the Saudi’s. So Saudi’s are the bad guy while in reality its the deliberate stupidity of Biden and his war on fossil fuel has caused the shortages and record high prices.
Note to Biden: watch the Seinfeld episode where George decides that every decision he has made was wrong so he would do the opposite.
If I were running Saudi Arabia, I would be talking to Russia about buying S400’s and announce some major refinery mechanical malfunctions that prohibited shipping any oil to the US for at least the next 6 mos. Oil would jump to $200 overnight, and then go back to refusing Biden’s calls…