https://www.foxbusiness.com/markets/opec-ministers-agree-cut-production-2m-barrels-per-day well it looks like Biden’s and Stupid Harris influence in the world stage is showing through. But don’t worry equity is the real problem america faces, not energy. Just ask Harris
Biden has made this possible by passing off key swing producers like Saudi Arabia, trying to block domestic energy production, and then not paying attention to what effect his sanctions would happen on world energy markets.
Hmm, real smart move, Not. Kind of stupid to remove fossil fuels but not have the capacity or means on a national/global scale to compensate for the diminished resources to power things.
BTW the title of this thread is a lie. They cut their quota by 2 m barrels a day not production by 2m barrels per day. As recently as August OPEC's total production was 3 million barrels per day BELOW their available quotas. That means OPEC could raise production by up to 1 million barrels per day even with a cut in quotas by 2 million. The real problem has been since 2014, globally, new oil developments have fallen off a cliff. Radical climate extremists and political backers have been pressuring investors to not invest in oil and natural gas production which has resulted in falling production due to lack of investments. Further more these same radical climate extremists and theor political backers have blocked virtually all of the infrastructure needed to bring oil and gas to market in an economically efficient manner. We need to reject radical climate extremists and treat them like the evil bastards they are because they genuinely want to reduce regular people into poverty. That is how stupid and evil they are.
Couldn't you also blame investors for giving in to the radical climate extremists? based on what you said, it is the investors changing their behavior that is the real problem. Greta screaming at the moon doesn't change anything.
It has always been possible, which is Saudi Arabia has done is dozens of times in the past. Its called 'price manipulation'. Trying to pin it on whoever happens to be in the WH is ignorant. Lets take a look at the US numbers, because they show the exact opposite of what you claim. 2014 was the beginning of a massive oil boom in the US, and by 2016 it became clear US would be the largest oil producer in the world in a matter of years. U.S. Crude Oil Production - Historical Chart | MacroTrends [/QUOTE]
Sorry I missed that logic. How did Biden "pass off" Saudi Arabia to block domestic energy production? If Biden wanted to block domestic energy production why would Biden block Saudi oil production? In fact he would do the exact opposite. What supply-demand formula are you using? Next why are you even suggesting it is Biden who can control world oil prices let alone what Saudi Arabia or any other oil producing nation does? What fiction is that? You know damn well you are engaging in partisan politics. Saudi Arabia as you are well aware pressured smaller oil-producing members of OPEC to agree to production cuts in an effort to undermine sanctions against Russia. The cutting of oil supplies “increases Russian revenues. The current Prince of Saudi Arabia is engaging in close relations with China and Russia in retaliation for what he sees as Biden being unfriendly to him and daring to challenge his murder of a journalist. Biden called the Prince a dictator and pariah so this Prince is retaliating against Biden hoping his policy will increase US domestic gas prices just in time for the mid term elections. . Tell me do you want to really argue no one least of all the US government was not aware of the effect of sanctions against Russia vis a vis energy supplies? Really? You want people to believe Biden works in a bubble and has no communications with OPEC, the oil multi-nations, NATO and other countries and has no clue as to how global energy markets operate? Lol, you have him confused with Trump. Trump is the one who never read a briefing. Saudi Arabia’s Crown Prince Mohammed bin Salman is a dictator and a ruthless one. Biden called him a dictator and a pariah. There is a personal animosity between the two yes. You want to support this Prince go ahead. He is a sociopath no different than Putin, fat boy Kim, Erdogan. You want to live in a world appeasing them? You think appeasing them because you are inconvenienced will stabilize the world? Is that your foreign policy? Really? Saudi Arabia is involved in a war with Iran all over the Middle East, Right now this Prince thinks he can use Putin as leverage with China, Iran's no.1 ally to control Iran. He also thinks Putin can help keep anti Saudi terrorists in Syria from attacking Saudi Arabia. Its called politics. The moment this Prince feels Russia is of no use to him, the taps will be back on. Why? If for no other reason the same tap turn off increases the revenue for Iran the Prince's no. 1 enemy. This is just another up and down trend with Saudi relations. You want to lick the Prince's ass be my guest. That will be the price of appeasement and if you think this Prince will not do whatever it takes to get the highest price for his oil think again.No ass licking will stop that. .
