Biden still has his boot on the neck of the US oil industry which could bring down world oil prices and reduce the revenue Putin is getting.
Saudi Arabia is able to sell the oil it used to use for electricity generation on the world oil market and reap much higher prices than it pays to Russia
Buy low, sell high. No mystery here.
Odd, you’d think there would be a term for this phenomenon.
Oh yeah, it’s called a Fungible Commodity.
Huh, who would have thunk it?
I will be very surprised if Saudi Arabia doesn’t follow Iran and Argentina into BRICS. The Saudis fear and despise the two major western foreign policy initiatives, the exportation of the New Green Deal and western perversions. The western assault on Russian banking and their economy also pushes the Saudis and the rest of the non aligned world towards alternatives. The globalists in Brussels and DC could bring the same sanctions to bear on Riyadh or New Delhi. They are wisely taking proactive action now.
Does anyone have any confidence that Biden, Obama, Blinken, Klain, Yellen, etc... understand any of this? I doubt they even understand it well enough to know how it supports their destructive agenda.
Speaking of Saudi Arabia, I’ll bet gas prices are kept low in that country, unlike what’s happening in America.
Let's Go Brandon.
Correct. Its just a shell game. India is doing the same.
Even better, EU regulations say they can import oil so long as less than 50% of it comes from Russia. So, they’ll fill every tanker with 51% Saudi crude and leave the tanker 49% full with Russian crude and then voila! It can now be imported into Europe....at higher prices of course. The Russians still sell their oil and the Saudis buy at slightly lower prices from the Russkies and sell at somewhat higher prices to the Yurps. Classic arbitrage - profit without risk.
The utter level of journalism in this country has reached septic tank levels: confirmed.
Biden should buy oil from Russia to replenish the SPR.