Remember when America was energy independent and gas was less than $2 at the pump? Those days are long gone, and if the Biden administration and OPEC have anything to say about it, we will never see them again.
On Monday, CNSNews reported the following:
Saudi Arabia and half a dozen other members of OPEC+ announced on Sunday that they plan to cut up to a combined 1.15 million barrels of oil a day from May until the end of 2023, calling the decision a “precautionary measure” aimed at ensuring market stability.
The unexpected move comes six months after a decision to cut production by two million barrels a day, also through the end of 2023, sparked a serious diplomatic spat between the Biden administration and the kingdom.
…“We don’t think cuts are advisable at this moment given market uncertainty – and we’ve made that clear,” Reuters quoted a U.S. National Security Council spokesperson as saying in response to Sunday’s announcements.
The announcements by the various oil producers made clear that the new cuts were additional to those announced last October, when OPEC+ agreed on a reduction by two million barrels a day until the end of 2023.
That decision, shortly before the U.S. midterm elections, came despite Washington’s appeals for OPEC+ to increase supply. The administration responded bitterly, portraying the move as one that would hurt U.S. interests and benefit Russia’s war in Ukraine.
President Biden warned of “consequences” and White House and State Department officials said the administration would consult with Congress after the midterms and look to “recalibrate” the 70-plus year relationship with Saudi Arabia.
President Biden needs to realize that no one is listening to him. He has undermined the power of America on the world stage to the point where no one cares what he says. The only real way to avoid the economic crisis that this production cut will create is to resume ALL American drilling immediately. Those involved in the extreme environmental movement need to realize that if they crash the American economy, their movement will lose a lot of support and economic clout. America needs to be energy independent for national security purposes and for geopolitical purposes. If we do not turn the Biden administration’s energy policies around quickly, we are in danger of failing as a nation.