Starting the OPEC/Joe Biden Price Hike

Thanks to Joe Biden's Green New Deal energy policies, the American people will get hurt financially. This morning, OPEC+ "agreed to slash two million barrels of oil a day, delegates said, in a move likely to push up already-high global energy prices and help oil-exporting Russia pay for its war in Ukraine." This major price hike "came less than three months after President Biden visited Saudi Arabia, OPEC's de facto leader, in a bid to repair relations between the world's biggest oil consumer and its biggest crude-oil exporter during a period of rising inflation driven in part by high energy prices."

Joe Biden's policies put the U.S. in this position. It didn't have to be this way. Right now, the U.S. is producing 11,800,000 BPD. Right before the pandemic, the U.S. produced 13,000,000 BPD. OPEC did this because it could. Like so many other things, Joe Biden eliminated Trump policies that were working.

According to this article, "The OPEC+ alliance of oil-exporting countries on Wednesday decided to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S. drivers just ahead of key national elections." IMO, this was an intentional slap in Joe Biden's face. During the 2020 campaign, Biden said he'd turn Saudi Arabia into a pariah. Then he cozied up to Iran, the Saudis' greatest enemy. As a result of Biden shooting his mouth off and his counterproductive policies, the middle class will soon pay more for gas. This segment is quite insightful:

This is significant:
The OPEC+ production cut will limit Russia’s loss of market share, said delegates, who acknowledged it represented an unprecedented effort by the world’s biggest oil producers to collectively help Russia with the political and economic problems caused by the war in Ukraine.

Still, participants said their interests would be well served by the decision by boosting the revenue their petrostates need.

The Saudis might well prefer Republicans in control over Democrats. It's noteworthy that then-President Reagan once replied to his strategy vis a vis the Soviets "Simple. We win. They lose." It's ironic that, today, Russia won while the U.S. lost.

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