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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsBiden Steels for Fight With Saudi Arabia Over OPEC Production Cut as it Strengthens Ties With Russia
The White House is considering new forms of punishment for Saudi Arabia and Russia for orchestrating OPECs deal to cut production targets by 2 million barrels per day, the largest reduction since 2020 and one that comes in the wake of President Joe Bidens broadly criticized summer visit to the kingdom and his repeated appeals to the crown prince for help relieving high oil prices.
I want to be clear on this, Brian Deese, the director of the National Economic Council, told reporters Thursday morning aboard Air Force One, the president has directed that we have all options on the table and that will continue to be the case.
The issue of the U.S. and our economic security is maintaining inventory levels so we aren't in a situation where U.S. consumers are forced to bear the brunt of anticipated or unanticipated economic challenges, he said.
While the move could prove politically damaging for the White House should gasoline prices begin rising again, it also portends a new, strengthening alliance among American adversaries that could upend Western momentum to isolate Russian President Vladimir Putin for his aggression in Ukraine.
https://www.msn.com/en-us/money/markets/biden-steels-for-fight-with-saudi-arabia-over-opec-production-cut-as-it-strengthens-ties-with-russia/ar-AA12FUii
OAITW r.2.0
(24,504 posts)The cost of providing USN muscle to get their product to market.
JT45242
(2,278 posts)What they are doing in Yemen is terrorism.
Follow the money that funded Bin Laden and much of it came from lesser members of Saudi royal family.
Let them try to buy weapons from Russia.
Yo_Mama_Been_Loggin
(107,996 posts)Last edited Thu Oct 6, 2022, 09:04 PM - Edit history (1)
They can have Putin's exploding tanks. Guaranteed to get them their seven virgins.
dalton99a
(81,512 posts)dalton99a
(81,512 posts)The No Oil Producing and Exporting Cartels, or NOPEC, bill is designed to protect U.S. consumers and businesses from artificial oil spikes.
The U.S. legislation, which passed a Senate committee in early May but has not yet been signed into law, could expose OPEC countries and partners to lawsuits for orchestrating supply cuts that raise global crude prices.
To take effect, the bill would need to be passed by the full Senate and the House, before being signed into law by the president.
moonshinegnomie
(2,453 posts)1) pass the nopec bill
2) block ALL arms sales to saudi arabia
3) close all us bases in the kingdom. pull out completely. let them fend for themselves.
4) if they try and cosy up to russian ftaer that block the sale of all oild drilling supplies to the country.
dalton99a
(81,512 posts)Submariner
(12,504 posts)at the next Bonesaw Mo Open Miniature Golf Tournament at Bedbugminster.
The Unmitigated Gall
(3,817 posts)Shut that down also.
JT45242
(2,278 posts)They can defend their own ships against pirates.
Get Erdogan to release the audio tapes that almost certainly exist of bone saw talking via phone to kashoggi while they were chopping him up alive.
Buckeyeblue
(5,499 posts)Can it be replaced as we work to become less oil dependent? The biggest way to punish is to not do business.
I'm not sure US based oil companies would do this, as they don't seem to care about our country but we could try to put pressure on them.
Also Biden could push US corporations to have more favorable work from home policies (for those who can) to reduce gas usage.
It seems like there are other things we can do as well.