Wednesday, October 5, 2022
Plus..
OPEC's de-facto leader Saudi Arabia said the cut of 2 million barrels per day (bpd) of output - equal to 2% of global supply - was necessary to respond to rising interest rates in the West and a weaker global economy.
OPEC+ curbing supply in an already tight market, causing one of its biggest clashes with the West as the U.S. administration called the surprise decision shortsighted.
US and the West enacted sanctions on Russia that also curb the oil production and causing a havoc in the energy market for the past few months.
There are many reasons why blaming someone else for your problems is called narcissism, denial, and projection. It's also merely an intense form of self-absorption and selfishness. After all, it's much easier to throw your problems onto someone else rather than reflect inwards.
Election..
In 2021. It's Biden focused on climate change. No more drilling keddo, no more Fossil Fuel.
Six Months later with prices hitting the roof, the Biden's admin released 50 million Barrels of oil, followed by 180 Million Barrell release to lower prices. This didn't work.
By then, the Biden's admin. put aside the hot topic of Global Warming, and looked to solve the massive inflation problems. Then came the Russia/Ukraine war and enacted the Sanctions, after cancelling Nord Stream 2 pipeline.
Prices, and inflation, exploded and Europe is facing major difficulties.
A visit to the Saudi asking to increase their oil production against the Saudi's better judgment
The Opic + members announced production cuts by 2 million Barrels a day is an attempt to reverse the slide of oil prices from $120 to $80, despite rerepeated pressure from U.S. President Joe Biden’s administration for the group to pump more to lower fuel prices ahead of midterm elections next month.
Climate Change, or Cheap energy or the election? Just a thought.
Monday, October 3, 2022
Agenda..
ONe and a half year of his Presidency- [Four year Term] and the situation is disastrous. What can happen next?
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