The real reason the Saudis are refusing Joe Biden’s begging to ramp up oil production

American Thinker:

By Monica Showalter

Joe Biden has driven up energy prices by halting leases for drilling on federal lands, shutting down the critical Keystone XL pipeline, and demonizing Big Oil with investigations into skyrocketing energy prices, which are globally set. 

What he hasn’t been doing is anything constructive to lower energy prices. He’s thrown out shiny baubles such as the release of two days’ oil reserves onto the global markets as his claimed ‘tool’ for driving down energy prices, hoping you don’t notice his other acts. He’s pathetically begged the Saudis and OPEC sheiks to raise production in lieu of the local pipelines and production he has shut down.

But now there’s another way he’s driving energy prices sky-high and I found it in a buried lede that ran in a long story on CNN:

The move [to release reserves from the Strategic Petroleum Reserves] may instead largely act as a signal to OPEC nations and Russia that the US is serious about taking action to lower prices after those nations were reluctant to ramp up oil production to reduce prices.

Biden officials have warned the Saudis for weeks that the US would find alternative solutions if the price of crude oil topped $85 a barrel, officials said, which it did late last month. But Saudi Arabia has stood firm in refusing to increase output and has priced in — wrongly, in the view of US officials — the possibility that the US reaches a nuclear deal with Iran, two US officials said. The Saudis’ concern is that sanctions on Iran would then be rolled back, allowing the country to ramp up its oil production and compete with OPEC+.

Turns out that Joe’s hankering for a nuclear deal with Iran is driving the Saudis to hold back on production. more

15 Comments on The real reason the Saudis are refusing Joe Biden’s begging to ramp up oil production

  1. They’re just no figuring that one out? Nobody but me noticed prices going up when Obama II got back to brown-nosing the Iranians? Saudis are Sunnis, Persians are Shiites. BrObama’s daddy was a Shiite; Val Jar is a Shiite. BrObama is a Shiite. Joe’s just a puppet so he doesn’t count. Get it?

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  2. Get real, the little bit of oil found anywhere in the US wouldn’t amount to a hill of beans. Maybe power America for a week, then what. Greed in the oil business has been there a long time. Fock the Saudias, talks with Iran must move forward.

  3. Anon, evidently you know nothing about supply and demand. Were you a classmate in economics class with the genius that is AOC?

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  4. The US has the largest proven reserves of fossil fuels in the world so your point that they would “power America for a week” is not just stupidly wrong but wrongly stupid.

    ICYMI which I guess you did, we were EXPORTING fossil fuels particularly LNG, just a few years ago. Remember the huge new LNG exporting facilities that were being proposed on the Gulf in Texas? yeah

    No more of that talk now. Gee wonder why, asshole? Go get another booster, maybe that one will be your ticket onward.

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  5. Get real, the little bit of oil found anywhere in the US wouldn’t amount to a hill of beans.

    Oh boy! A real oil exspurt speaks!!
    That’s why shutting down pipelines, drilling, fracking and exploration made a HUGE impact!
    The cause and effect couldn’t be more graphic! Get yer head out of yer ass who ever you are!

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  6. Anonymous was evidently unaware (blissfully perhaps) that we were not just energy independent with Trump in office we were an exporter.

    Because Anonymous undoubtedly needs some hand-holding (and I fully intend to wash it afterwards) that means we were producing more than we needed.

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  7. Aaaaaaaaannnnnd the next thing Anonymous’ will tell us is that “DeathSantis” turned Florida into a COVID hell-hole, Cuomo did a great job, DeBlasio is a hero and Bill Clinton helped women get ahead!

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  8. @orestia November 29, 2021 at 9:15 am

    There’s a special place in Hell for people that gift those kind of mental images.

  9. @TRF
    “Aaaaaaaaannnnnd the next thing Anonymous’ will tell us is that “DeathSantis” turned Florida into a COVID hell-hole, Cuomo did a great job, DeBlasio is a hero and Bill Clinton helped women get a head!”
    That last one is most certain correct. 😉

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