No, the idea is to lower prices in the US and still kowtow to greenies.
The Dems internal poll numbers must really be looking bad.
Europe (and many millions of even more vulnerable poor around the world) be damned. But, it’s even worse than that because the whole global economy is already lurching toward a recession, the most immediate reason being the global energy shortage.
It took me a while to figure this out: We have a fundamental mismatch between OPEC+ suppliers and their customers: Producers like Saudi Arabia and Russia need oil prices of $90/ barrel or more to fund their governments. Consumers who are heavy importers like Europe, China & Japan need prices of $70 or less for their economies to prosper. A similar mismatch is occurring with natural gas.
The US is in a bit different “spot” since we don’t import a lot & most of our own oil and gas expenditure gets plowed back into our economy, but we are still much better off with prices similar to the Trump years (except COVID), roughly $60-$70, than $90.
With such a mismatch and a lengthy supply shortage as well in place, supply and demand doesn’t work quite as it should. Then add all the BS green policy further limiting supply. This creates a situation where neither supply nor demand can suitably respond, and as that causes industries and economies to fail, demand falls further, while the oil exporter’s need for revenue continues.
Eventually, “something’s gotta give”.
I’m not sure I follow - I agree that Biden is cutting exports so that refineries are only supplying US needs. (I’m not sure how that applies to keeping the greens happy though)
My point is that this intentionally strands Europe whom we need to stand strong against Russia…
It’s too bad Russia blew up their own pipeline though.. it hurt their strategic advantage here.