OPEC, Saudis P*** On Joe’s Bully Pulpit?

OPEC agrees to biggest oil cut since Joe said he’d stamp out Covid? So much for Joe’s begging the Saudis for more not less, as they & other OPEC producers slash 2 million barrels a day to boost prices & aid Putin’s Ukraine war.

As the WSJ reports, “the decision … came less than 3 months after President Biden visited Saudi Arabia, the OPEC’s de facto leader, in a bid to repair relations between the world’s biggest oil consumer & its biggest crude-oil exporter during a period of rising inflation driven in part by high energy prices.” Moreover, the newspaper notes, the move “could undermine a plan by the Group of Seven wealthy nations to cap the price of Russian oil they are buying on the global market, a key part of the West’s economic battle with Moscow.”

Meanwhile, the Western economies continue to languish in the proverbial urinal, as the US national debt exceeded 31 TRILLION DOLLARS for the first time, the UK’s economy is tanking faster than Tony the Tiger’s PR legacy, and the EU is desperately abandoning its green transition at all costs policy; rediscovering the need to rely heavily for the time being on natural gas, nuclear power plants, and even burning wood and other “biofuels” to keep the home hearths burning as winter approaches.

Davd Soul