Biden Convinces OPEC & Russia

[WHITT]

Biden Convinces OPEC & Russia To Release Oil Reserves

The U.S. and Saudi Arabia have reached a detente after weeks of hostility about high oil prices, with the OPEC+ cartel announcing a production hike even as the new Covid variant threatens demand.

The group led by Saudi Arabia and Russia surprised markets by agreeing to add 400,000 barrels a day of oil from January, even as the virus undermines prices for oil-producing nations. It left the door open to changing its mind, however, saying ministers could gather again at any moment to review the decision if conditions change.

It’s not clear how far beyond energy the diplomatic mission has reached: since taking office, Biden has refused to deal directly with de facto ruler Crown Prince Mohammed bin Salman, and has only spoken to his father King Salman.

More:

https://www.bloomberg.com/news/articles/2021-12-02/u-s-saudi-diplomacy-paved-way-for-opec-s-surprise-output-hike

[gratuitous]

1. Well, this should be wall-to-wall news, right?

After last week's doom and gloom about pump prices nudging up, the news that prices are going to be coming down again should be all over the nooz, right? Interview folks at the pump. Zero in on those "I did that" stickers. Praises ringing across the sky for President Biden. Right?

Your liberal media.

[progressoid]

2. That's a bit of a contradiction. Didn't we just go to a climate conference and promise the opposite?

I get why he's doing it. But it runs counter to the promise to reduce green house emissions.

[BumRushDaShow]

3. There is a section at the OP article link that included this

The U.S. delegation included Amos Hochstein, the top U.S. energy diplomat, and Daleep Singh, deputy national security adviser for international economics. Earlier this week, Hochstein said the two countries had discussed how to “partner to invest in the energy transition and collaborate to build a 21st century clean energy architecture.”

(bolding mine)

So a "transition" was part of those discussions and it certainly won't happen overnight.

[Grokenstein]

4. "WHY DUZNT BYDEN DO SUMPIN BOUT GAZ PRICES???"

(Biden does something about gas prices)

"WHY DUZNT BYDEN STOP INTERFERIN' IN TEH FREE MARKIT???"

[WHITT]

5. Indeed

Repubs: How dare Biden try to deprive us of one of the fake issues we planned to campaign on in the Midterms.