Posted on 03/10/2022 11:40:28 AM PST by Oldeconomybuyer
DUBAI (Reuters) - By single-handedly knocking 13% off rocketing oil prices on one day this week, the United Arab Emirates demonstrated the power Gulf producers wield in the market and sent a wake-up call to Washington to pay closer attention to its longtime allies.
OPEC heavyweights Saudi Arabia and the UAE, which both bear grudges against Washington, have snubbed U.S. pleas to use their spare output capacity to tame rampant crude prices which threaten global recession after Russia's invasion of Ukraine.
This was deliberate," Gulf Research Center Chairman Abdulaziz Sager said of the conflicting UAE comments, adding that the message being sent to Washington was: "You need us, we need you, so let's settle the issues between us."
He said Washington, which flagged Russia's plans to invade Ukraine long before Moscow's troops crossed the border on Feb. 24, should have coordinated more closely with the Gulf producers in the buildup, rather than turning to them once the crisis hit.
“There are many problems between the U.S. and its Gulf allies that need to be addressed widely and resolved," said a Gulf source, saying trust needed to be rebuilt. "It has nothing to do with Russia or the Ukraine war."
The source said Washington should have acted before the Russian invasion. "The U.S. administration knew it was heading towards a crisis. They should have fixed relations with their allies, coordinated and lined them up in advance ... not just expect them to comply and handle oil prices."
(Excerpt) Read more at msn.com ...
we didn’t when Trump was in office...
Just saying.
Relax UAE, the criminal U.S junta is freeing up billions of dollars for Iran soon, so they can take you over. Everything will be ok. Just trust swiss cheese brain
And the UAE needs us more than we need them. Why? Iran. Hell, maybe even Iraq (ala Kuwait).
Let me get this straight, they need us to help Iran get nukes?
LOL
I get your point, but if I were them, I’d be pretty furious
at us right now.
While I was watching the commodities market yesterday, and today, I was searching for the reason that oil and other energy related commodities were so blast-down then blast-up.
Now I know... We really need to pump more oil and gas...
I agree…. out of the ground.
No... the UAE, Kuwait, etc. are just ripe for Iran to do what Iraq tried back in the 90’s... rolling in and taking over the oil.
I wouldn’t disagree with that at all.
At that time, we’ll have to make some choices, now that Biden
seems headed to give Iran a green light on nukes.
Not sure if you are religious, but this sure seems like end
times.
Sure seems to be getting closer and closer to the day and the hour... We may not know exactly WHEN it is, but we are to recognize the signs along the way.
Yes, I agree…
Thanks for the response.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.