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Countries like Saudi Arabia now have the western world at their mercy. For now they know they are in the driver's seat and gives them some free swings and western progressive policy that they not only laugh at but are offended by.
It's not just the US it's Europe as well. They know alot of Europe has to import as will the US. Don't know if Klaus has influence here but don't count this out as a WEF or UN move with some nudging.
Problem is many don't realize it has a delayed affect they won't see pump increases for a month or two so they'll think everything is good in oil/gas world.
SA and the other OPEC countries need revenue just as much as any other country.
It was an incredibly great stroke of luck........ for the USA.
It takes away Russia's bargaining chip, and leaves European countries with no alternative but to scramble for new resources now, instead of waiting 2-3 years. It also undercuts the populist rhetoric from certain political parties that are having success which called for normalization with Russia to avoid such energy prices. They can normalize all they want now, energy prices will still go through the roof.
The USA blew up this pipeline, with maybe help from the UK, rest assured of that.
France and Germany are left in a pickle.
I understand America's motive, but Saudi Arabia has pipelines too, and America has created a precedent.
I'm increasingly convinced that we are hurtling towards WWIII.
This is a worldwide phenomenon. It really has nothing to do with the USA specifically. When oil supplies are cut back it affects Lesotho, Brazil, Sri Lanka, Japan and all other countries the same way.
We as a nation are inextricably linked to worldwide oil prices. Even pumping more oil here will barely have any local affect, as it has to be enough to flood the world market (to be able to change pricing).
There is only one thing we can do about it, and this would be only partially helpful: re-introduce banning the export of oil from the USA. It is only with this legal ability production in the USA will directly benefit the USA. It is also the only way increasing production in the USA will help the USA. Otherwise output in the USA by any oil company makes the product available for export to the highest bidder ... and (if demand is higher elsewhere in the world) it sails right out of the country.
WE had such a law, called the Energy Policy and Conservation Act which the Republican led Congress allowed to expire in 2015, at the behest of the major oil companies. Now we are totally dependent upon the cost of worldwide supplies, and we must compete with every other country ... even for our own domestically produced stocks.
Re-instituting this law would truly be one way of making America great again.
Biden already said he's going to do that via his "emergency powers" if the oil producers don't stop exporting.
Why hasn't the Dem Congress reinstated that law ????
I don't know why. I am not sure of any present proposals and I did not know Biden made the statement you mention, I just thought of this myself this morning because I remember when they let the law expire. This legal remedy should be part of the discussion.
The original law was introduced by a Democrat back in 1975 (I had to look it up), and it was killed by Republicans in 2015.
I am going to suggest to my congressman to introduce the bill, and I suggest that everyone else does likewise with their own representatives and senators. We need to hold our representatives accountable and we need them to make a public pronouncement on whether they would support such a measure before election day coming up.
This is the most leverage we voters will have in the next several years and we are up against the dark influence of the petrochemical industry ... which plows money into these people's hands year-in and year-out indefinitely.
It isn't clear who sabotaged the pipeline and may never be. It seems the US or a group associated with the US would be the leading candidate....especially in light of the Biden comments. A problem is, there are lots of pipelines and cables that can be sabotaged and opening up that can of worms can create a different type of warfare and create a situation whereby nations decide to destroy infrastructure and/or the planets natural resources on a large scale (Within certain countries) as a weapon of war.
you mean WE will never know.
With all the equipment that countries have they KNOW exactly who did it and when.
Global politics is a game of chess my friend, not checkers.
You mean not one satellite saw anything suspicious? Not one ship? Not one sailor? This was in Danish waters. Nobody saw anything? Explosions so large it registered on the Richter scale. Explosions in 4 areas.
I cannot believe that people are so naive to think no one knows.
Radar, sonar, satellites .....many countries have them.
The behavior resembles a form of war profiteering. This is all the more reason to expedite migration to renewable sources so we won't be dependent on these ruthless price gougers.
I understand America's motive, but Saudi Arabia has pipelines too, and America has created a precedent.
I'm increasingly convinced that we are hurtling towards WWIII.
I think we're in WW3 now. It just won't look like the two previous world wars due to nukes.
One of my old companies used to have a location in Moscow, and I would go regularly. But in 2019 it started becoming dicier, we were investigated for doing business with sanctioned entities, and even had one bank declare they no longer wanted to do business with us any longer (but they gave no explanation, I believe it was related to that). Long story short, we sold the Russian operations, and I'm no longer involved anyway.
Last time I was in Russia was January 2020, I came back from a Sochi ski trip. In 2019, because of my connections, I even went on a tour of LPR and DPR with a high ranking member of those separatist regions (only way an American could even go). I thought nothing it at the time, I had been to over 140 countries, and so this was just an oddity to see. But it landed me in problems with US custom officials. All throughout 2020 I was interrogated on return to the USA (even on trips not related). On a 2020 fight to Europe, I was pulled out of the check in line by agents and asked questions at JFK [they even knew how I looked and didn't require my ticket be scanned, picked me right out of line], and they graciously held the plane for me so they could finish. It was like a movie. I lost my Global Entry privileges as a result.
That was my tip off that Russian-US relations were souring fast.
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