Saudi Arabia isn’t particularly happy with Joe Biden. As they are the lead country in the oil alliance, it has been decided that OPEC will cut oil production from May to the end of the year. What that means for every American is higher gas prices…perhaps significantly higher, thanks to Biden’s anti-fossil fuel policies.
Analysts say the move will cause gas prices to rise about 26 cents per gallon, for an already inflation-strapped population. The move comes before summer, traditionally when American families take vacations…which now may put some of them on hold.
Saudi Arabia plans to cut 500,000 barrels per day. Other OPEC members also did the same.
“Other OPEC+ members also followed suit. Iraq announced a cut of 211,000 bpd, followed by the United Arab Emirates (144,000 bpd), Kuwait (128,000 bpd), Kazakhstan (78,000 bpd), Algeria (48,000 bpd), and Oman (40,000 bpd).
The collaborative production cuts come after oil prices in March fell toward a 15-month low at $70 a barrel, largely driven by worries that the ongoing global banking crisis would—as did the 2008–2009 financial crisis—spur a severe drop of global oil demand.” The Epoch Times
In short, they are cutting production to get more money. And it’s because Biden, in his lack of wisdom, described Saudi Arabia as a “pariah” while campaigning.
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Unlike the warm relations between the U.S. and Saudi Arabia during the Trump administration, Biden’s actions, including calling Saudi Arabia a “pariah” in 2019 when he was running for president, have alienated the Saudis to the point that they have tried effecting a rapprochement with Iran, their greatest enemy, brokered by China. Saudi Arabia cut ties with Iran in 2016. Daily Wire
The Biden administration has been a disaster for Americans, and this latest situation is simply the frosting on the cake. From his day one destruction of the Keystone Pipeline to his war on all things gas, ordinary people are paying a high price for policies which scorch the wallets of everyone. Except the elite of course. Their ivory towers are still intact.
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Related:
- Biden’s Declaration Of War Against Oil, Gas Meant To Destroy Economy Of Major Red State: Texas
- Summer Gas Surge: Biden Plans to Sell 26 Million More Barrels of Oil from SPR
- Speakers At WEF: Stop Eating Meat, Overcome Capitalism, End Coal, Oil Consumption (Video)
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