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Supply and demand. The Biden economy is generating demand that we didn't see the prior 2 years.
Yes, the global energy market is as simple as "supply and demand."
There's nothing at all that the President of the United States of America could possibly do to put upward or downward pressure on the price of oil, which is traded in U.S. Dollars in the global marketplace.
Great retort but it clearly explains why Biden has nothing to do with it. Like it or not.
That Yahoo news article is too narrow in its scope, because it is trying to prove its hypothesis, instead of being objective. The MIT professor is picking and choosing events to suit the narrative.
Biden is begging Saudi Arabia for oil but the Saudis won’t give it to him. Check out every single headline from the past 2 days: Saudi Arabia Snubs Biden; Saudi Arabia Refuses Calls With Biden.
Why is this important?
Because The Biden Administration completely destroyed the US relationship with Saudi Arabia.
Quote:
In his fever to undo every vestige of the Trump presidency, Biden has undermined the extraordinary progress made by the previous administration towards peace in the Middle East, including by “recalibrating” our relationship with Saudi Arabia. The signing of the Abraham Accords between Israel and the UAE, Bahrain, Sudan and Morocco marked an undisputed breakthrough in opening relations among bitter enemies and also in ring-fencing a belligerent Iran.
Instead of attempting to build on that achievement, Biden has tried to bury it. Upon taking office President Biden immediately froze arms sales to the UAE, which had been promised as part of the deal. He next halted military aid to the Saudi war in Yemen and rescinded the terrorist organization designation applied to the Houthis by President Trump, emboldening that group to step up their attacks on Saudi Arabia.
Furthermore,
Quote:
The crowning blow to our improved realignment of interests in the Middle East, however, was Biden’s decision to insult the de facto ruler of Saudi Arabia by releasing an intelligence assessment that Crown Prince Mohammed bin Salman (MBS) was responsible for orchestrating the murder of Jamal Khashoggi. This affront followed the White House announcing that Biden would not speak to MBS, as he is called, but rather, communicate with his father, the ailing Saudi King Salman bin Abdulaziz.
So now Joe is going begging for oil and the Saudis want nothing to do with him.
Of course, Joe is shopping for oil because he refuses to drill more in the US. The US has plenty of oil…but the Green New Deal extremists of the party will cry bloody murder. If we have all the unused permits…why is that? Why isn’t Joe going to US companies and asking them to up production?
This has everything to do with Joe Biden and his disasterous policies.
It really doesn't matter, he’s going to take the hit.
He is going to take the hit - and rightly so.
Why?
Because you shouldn't start trying to change an economy from a fossil fuel economy to a "green energy" economy during the middle of a pandemic, economic disruption and a period of historic high inflation. Just like you shouldn't keep borrowing and spending (and wasting) trillions during a period of high inflation.
The majority of Americans see this and no amount of spin is going to change that.
For those who might not be aware, Biden cancelled land leases for oil exploration on our Federal Lands which much of the oil comes from. Oil futures trade years out based on the expected volume/demand and it really hurt this country. Capital projects to build new refineries and oil drilling sites were hurt, and Biden really set back America a decade with Energy plan.
Supply and demand. The Biden economy is generating demand that we didn't see the prior 2 years.
and Biden STATING, he would aggressively go after fossil fuel to eliminate it had nothing to do with it???
Oct 2020 POTUS Debates
Candidate Biden said that he aims to transition the U.S. off of fossil fuels..... News Correspondent “Basically what he said is he’s going to destroy the oil industry,”
The Dems bragged about raising gas prices. Dream comes true for them. Begging from the Saudis or anyone is a dem party. Just enjoy it!
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