Happy..

The UAE ambassador to Washington, Yousef al-Otaiba, said it favored production increases “and will be encouraging Opec to consider higher production levels”, leading oil prices to fall by 13% the next day. But no action to increase supply followed and by the week’s end the price per barrel was back up to almost $130 (£100), an uncomfortably high level for Biden to take to the midterms.  

With relations between the Middle East oil powers and Washington at their lowest ebb in modern times, though, a reckoning is due that may realign the regional order on terms that favor Riyadh and Abu Dhabi. Both leaders have made it clear that they will settle for nothing less and are ready to extract their price.

Biden’s immediate priority is for both countries to help exert maximum economic pressure on Russia by cranking up their oil output. Each capital is a major supplier of oil, with excess capacity, which would soften the effect on US consumers through fuel prices before midterm elections in November that threaten Democratic control of Congress.

Our foreign policy is Clear. Win the Midterm.

Chaos..

 

The war in Europe and skyrocketing energy prices are forcing the oil and gas industry and the Biden administration into a relationship of convenience — one that may be fleeting as they pursue diverging, long-term energy agendas.

Russia’s invasion of Ukraine and the retaliatory financial sanctions the United States and Europe have implemented against Moscow have caused chaos in global commodity markets. Oil prices have whipsawed, shooting up to $130 a barrel earlier in the week. The gasoline prices, which Biden administration has been fighting a losing battle against for months, hit a record high of $4.33 a gallon on Friday.

Fossil fuel industry executives are wary of the Biden administration’s long-term intentions. On top of the short-term support for renewed drilling, the industry said it needs quicker permit turnarounds and acknowledgment that oil and gas production should continue in the long term while the clean energy industry takes root.

Tip..

 

Escalating sanctions by the West to punish Russia for its war against Ukraine are driving fears that an episode of increased inflation, already at its highest levels in 40 years, will become harder to wring out of the U.S. economy without a recession.

Before Moscow’s invasion three weeks ago, Federal Reserve Chairman Jerome Powell had begun laying the groundwork for a more aggressive series of rate increases, driven by concerns that labor markets were overheating. He and his colleagues were also banking on getting an assist from recovering supply chains later this year, limiting how far rates would have to rise.

Economists say there’s a growing risk that Mr. Powell could feel great pressure to lift rates to levels that ultimately tip the economy into recession. “It’s a very difficult path for the Fed to guide inflation back to target without triggering a downturn, and the path got even narrower with this latest supply-side shock we’re seeing,” said Matthew Luzzetti, chief U.S. economist at Deutsche Bank.

Who's behind this chaos?

Line..

 

This White House is very interested in continuing the war in Ukraine. Pour more fuel on the Fire.

Who convinced the Ukraine to become NATO members where the early agreement not to circle Russia?

Fuel..

 

President Biden's call this defending Democracy. We must pay for it.

Gas..

 

We keep betting on the wrong horse. We keep adding fuel to the fire. We keep supporting the Ukraine for many years and practically facilitated the desire of the Ukraine to have more power than needed against a the Russians pushing the parties to this end.  

US, Europe, the rest of the world in addition to the Ukrain and Russia will suffer unnecessary. There is no clean hands in this problem. Just a thought.

Supporters..

 

Vice President Kamala Harris made her first visit as vice president to the U.S.-Mexico border on Friday, where she toured immigration facilities and met with young women.

Harris said the border trip reinforced the need to address the root causes of the surge in undocumented migrants from Central America.

Vice President Kamala Harris is jetting to Europe for a trip that became more complicated after one of her hosts -- Poland -- caught the United States by surprise with a proposal to provide its Soviet-era fighter jets to Ukraine.

What seemed like a straightforward mission turned more fraught when the Polish foreign ministry announced it was prepared to deploy the jets to the US Air Force's Ramstein Air Base in Germany, which in theory could then be provided to Ukraine.

After the alleged sucess south of the border, we are sending Kamala to speak to Poland who wanted to shove the USA into war with Russia, a third World War.   

Just a thought.

A Lie..

During an interview aired on Friday’s broadcast of Bloomberg’s “Wall Street Week,” economist, Harvard Professor, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers dismissed President Joe Biden’s attempt to blame February’s inflation numbers on the Russian invasion of Ukraine by stating that before the invasion, everyone expected “that inflation was going to accelerate from January to February.”

Summers said, “Look, these numbers were not a surprise, and by the way, while inflation was 7.9% over the last year, if you annualize the monthly figure, it was close to 10%. So, we’re not seeing deceleration yet, and given what’s happened in commodity markets, I don’t think we’re going to see deceleration for several months. This is a grave problem. 

The president was wrong to blame this month’s number on Ukraine.  This is not an accident, he was told to frame it as such.

Other Lies will follow soon. Just a thought. 

fair..

 

Left..