Colour me confused. The lackies in the EU have been pushing price caps on Russian energy.. Alongside the sanctions, which have driven up prices prior to this latest move by OPEC +
Is the US threatening Saudi Arabia?
Background
Biden had previously gone to Saudi Arabia attempting to encourage the Saudi’s to increase output so prices would fall. This was a fail back in July.
Reuters
Biden needs the help of OPEC giant Saudi Arabia at a time of high crude prices and other problems related to the Russia-Ukraine conflict.
Biden came to Saudi Arabia hoping to reach a deal on oil production to help drive down gasoline prices that are driving inflation above 40-year highs and threatening his approval ratings.He leaves the region empty-handed but hoping the OPEC+ group, comprising Saudi Arabia, Russia and other producers, will boost production at a meeting on Aug. 3.
The other day it was reported..
White House Disappointed With OPEC’s ‘Shortsighted’ Decision
A White House statement following the OPEC+ decision to defy the Biden administration with an output cut for November vows to find new ways to temper OPEC’s control over energy prices.
“The President is disappointed by the shortsighted decision by OPEC+ to cut production quotas while the global economy is dealing with the continued negative impact of Putin’s invasion of Ukraine” (western sanctions- US destroying Northsteam 1 and 2) two of Biden’s top aides, national security adviser Jake Sullivan and National Economic Council Director Brian Deese, said in a statement.
The White House warned that the OPEC move would “have the most negative impact on lower- and middle-income countries that are already reeling from elevated energy prices”
Yes, higher energy prices are going to negatively impact ‘middle income’ countries like Canada and the US. Germany, France, Italy etc.,
In fact the higher energy prices are already hurting the people like myself , you know ordinary working class. Home heating prices have skyrocketed. And it’s been way cooler here then usual. We’ve had the heat turned on to take the chill out of the house for better than a week now. We’ve had hard frost about a month earlier than usual. So much for man made global warming, right?
But, I digress…
Let’s read the latest reporting..
My question as follows. Is the US threatening Saudi Arabia?
The U.S. Is Preparing Its Response To The “Short-Sighted” Strategy Of OPEC+
Secretary Blinken has described the decision by OPEC+ to cut production by 2 million bpd as both “disappointing and short-sighted”.
The Secretary of State said that the U.S. is reviewing its “response options” and consulting closely with Congress.
President Biden has directed another 10-million-barrel release from the SPR in November and will continue to direct releases as appropriate.“As to the relationship going forward, we’re reviewing a number of response options. We’re consulting closely with Congress,” Secretary Blinken said at a press conference in Peru late on Thursday.
“We will not do anything that would infringe on our interests – that’s first and foremost what will guide us – and we will keep all of those interests in mind and consult closely with all of the relevant stakeholders as we decide on any steps going forward,” Secretary Blinken added.