Biden’s disappointment in #OpecPlus production cuts : An accumulation of Failed energy policies, Failed Foreign Policies and Reckless management of American natural resources.
#Khaled_homoud_AlShareef
#Khaled_homoud_AlShareef
President Joe Biden gave a speech talking about his success in providing "economic security" for Americans, in the same speech, Biden blamed Saudi Arabia and Russia for the spiking energy prices in the U.S, let's look in depth at what is really causing these spikes in prices
U.S production worker wages increased 5.8% YTD , which is very strong GAIN (on paper) .
The problem is, that inflation rate in the United States hit a record high at 8%, so in reality U.S workers wages fell for the 18th month in a row.
The problem is, that inflation rate in the United States hit a record high at 8%, so in reality U.S workers wages fell for the 18th month in a row.
The reality is the #BidenEconomics is the reason for making Americans suffer on the kitchen table, the grocery store and when buying any of the essential commodities.
Surely the Saudis and Russians are not the ones responsible for the high inflation as a result of the excess federal spending and money printing and the war against fossil fuels is strangling the American oil jobs.
The American economy shrank in the first half of 2022 with over 8% inflation due to the continued COVID-19 restrictions on small businesses and the reality that America is in a recession, That is not the Saudis and Russians fault.
Stock markets are falling into record lows , interest rates are rising to record highs, housing markets are in a deep recession that should give us 2008 market crash flashbacks, and then, there's the energy fiasco.
President Biden ignores the fact that more than 50 percent (56% to be exact) of the American households in the United States use natural gas as their main heating fuel, and about 26% of the households use electricity to heat their homes.
Another 11% of Americans use fuel oil, and the last 10% use something other than natural gas, electricity and fuel oil.
President Biden has essentially stopped issuing new permits , stopped new fracking and stopped pipelining including the #Keystone pipeline , so if oil prices are floating around $100 a barrel that can't be the fault of the Saudis and the Russians.
Bidens have driven the strategic petroleum reserve to historic lowest levels in his desperate attempts to have a winning chance for his Democratic party in the Medterm election.
Biden’s administration sold oil from the SPR to China and Biden will again drain the SPR in order to implement political short term price fixing at the pump, surely that cannot be blamed on the Saudis and the Russians.
The U.S is an energy producer, the U.S could have been in a far better situation if only they did not try to force the Green transition, every single country in the world wants to be more energy independent and environmentally friendly
but rushed policies and poor planning led the United States to where it is today.
Saudi Arabia does want to work with the U.S and western governments towards a more stable and sustainable oil and energy markets, OPEC and OPECplus benefit from the stability of the oil markets
Saudi Arabia does want to work with the U.S and western governments towards a more stable and sustainable oil and energy markets, OPEC and OPECplus benefit from the stability of the oil markets
But to achieve that, western governments need to be more realistic in their Green transition and stop politicizing the green transition and let the scientists and the enterprise drive the transition organically.
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