Posted on 06/09/2022 4:18:34 AM PDT by FarCenter
US President Joe Biden is trying to figure out how to placate Saudi Arabia’s de facto leader Crown Prince Mohammed bin Salman and get his country to produce more oil.
Biden, under domestic criticism for high inflation, needs to somehow lower the price of oil. Saudi Arabia has more on hand than anyone.
But getting Saudi help will be hard. Biden once called the kingdom a “pariah.” A US intelligence report effectively labeled Prince Mohammed a murderer for overseeing the 2018 killing of Saudi journalist Jamal Khashoggi.
...
It’s a conundrum at the collision of two competing foreign policy desires: to be tough on Russia and tough on Saudi Arabia. The two goals have turned out to be incompatible. Each has stumbled over complications from using oil as a pressure tool.
There are two difficulties with Biden’s oil diplomacy. First, it’s far from certain that the Saudis and the other 12 members of the Organization of Petroleum Exporting Countries (OPEC) will want to increase supply or even can.
Saudi Arabia and petroleum powerhouse United Arab Emirates will not want to boost production by themselves. Doing so would effectively steal market share from their OPEC partners.
Moreover, several OPEC members, including Libya, Venezuela and Nigeria, cannot meet cartel quotas set months ago; their wells, equipment and refineries fell into disarray during the Covid crisis.
According to Argus, a commodities media company, OPEC is underperforming its quotas by more than 1 million barrels per day.
China, which has imposed no boycotts on its Russia trade, cannot ramp up purchases of Moscow’s oil. If it could, that would effectively rebalance the global market by freeing up oil it usually imports from elsewhere for sale to someone else. But, China lacks the pipeline capacity to increase purchases directly from Russia.
(Excerpt) Read more at asiatimes.com ...
Crown Prince Mohammed bin Salman hates Biden and Democrats. Why? Because MBS takes it personally, that they are always ragging on him about the death of that Islamic fundamentalist supporting pig Jamal Ahmad Khashoggi. Dems cooperate with and boost Iran. Trump cooperated with Saudi and was anti-Iran.
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On Jamal Khashoggi, the Muslim Brotherhood, and Saudi …
https://www.brookings.edu/blog/order-from-chaos/2018/10/19/on-jamal-khashoggi-the-muslim-brotherhood-and-saudi-arabia/
Oct 19, 2018 · 1 Yes, Jamal Khashoggi had many friends among the Muslim Brotherhood and, as his colleague David Ignatius reported days after his disappearance, had joined the movement
President Retard Stupidly Paints Himself Into a Corner 🤪
Should be the headline
I don’t think the Saud’s want Biden to visit. Are they still rejecting his phone calls?
No one respects Biden except the American press butt boys at the Washington Post and New York Times. And the sycophants who follow those two newspapers.
Disgusting ...
I can see the smirk on the face of MBS right now. Maybe they’re Ok with the visit just for the entertainment value. I am sure MBS, like Xi and Putin, know every sordid detail about Brandon’s life (including Hunter). And I’m sure Brandon knows that they know. I hope they mop the floor with him.
The problem with the Sauds and the world mopping the floor with the creep and his drug addicted whore monger son - - is WE the people pay the price. sadly we’re all in the same lifeboat...and Biden’s leaning over throwing up in the water.
Biden (whoever runs him) don’t want a win on oil. It’s all propaganda to placate the “heads full of mush”.
That was a rhetorical and an actual questions because the dims media make a big deal about foreign leaders visiting the White House. My guess is that you are right in that no one outside the country believes that biden was legally elected and is the actual president. So why waste the time.
nope, the mines in northern MN are working, plus the steel mills are using more scrap iron to make steel
And if you believe that...
Right. Which is why it happened under Trump, eh noob?
The US fracking boom began and developed during the Obama administration. It peaked by late in the Trump administration because all the best plays had been drilled and because fracked wells have short lives. They start productive and rapidly decline.
I think the US got near to being almost a net exporter of oil for only one year. Getting back to zero net imports will require much higher prices to compensate drillers for increased costs of less productive wells.
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