Get ready for Another Saudi Spite Spike
Russia and Saudi Arabia really want another republican in the White House. Get ready for their oil production slash right before next year's election.
There is a good chance this time next year we could see gas prices at seven dollars or more a gallon across the country.
The reason we need to put it on our radar now is because the forces responsible for it and those in power rooting for it are at this moment planning to use it as a potential October surprise in time for the 2024 presidential election to hurt President Joe Biden’s re-election chances.
Those were stickers people defaced gas pumps with just one year ago.
Thanks to our embarrassing billionaire-funded for-profit media, most people aren’t aware the President of the United States does not control global gas prices.
The Inflation Reduction Act (IRA) seeks to invest about $385 billion in energy and climate change incentives that include tax credits for solar and wind energy equipment production and electric vehicles purchases, and will create up to nine million new good-paying union jobs in the renewable energy field to reduce carbon emissions 40% by 2030.
The landmark legislation is also requiring companies that report more than $1 billion in profits (including those that deal in fossil fuels) to pay a 15% minimum corporate tax rate, and wealthy shareholders will pay a 1% tax on stock buybacks.
Do you believe the powers that be controlling our energy supply are eager to see any attempts to cut into their profits?
Do you think they aren’t aware their days are numbered?
Do you assume they’re seeing countries’ efforts to reduce carbon emissions as benign?
Can you imagine they’re excited the United States finally has a leader seriously confronting the climate crisis?
Not on your life.
The international fossil fuel puppet master is the Organization of the Petroleum Exporting Countries (OPEC), not an entity excited about higher taxes on corporations and billionaires nor stiffer environmental regulations, particularly transitions toward electric vehicles.
So naturally, they favor our republican party since it is the party 100 percent in bed with the fossil fuel lobby and the morbidly rich.
Saudi Arabia and Russia, two of the world’s largest oil producers, really want Joe Biden out of the way so they can go back to the days of not having to worry about someone cutting into their profits.
We got a glimpse of their manipulation last year when President Biden tried to appeal to Saudi Arabia and the United Arab Emirates (UAE) about restoring the production they’d cut when Donald Trump two years before threatened to withhold US military support unless Saudi Arabia agreed to cut oil production.
Representatives from both oil-soaked nations refused to answer Biden’s calls.
As The Wall Street Journal — not exactly a bastion of liberal reporting — explained:
The Saudis have signaled that their relationship with Washington has deteriorated under the Biden administration, and they want more support for their intervention in Yemen’s civil war, help with their own civilian nuclear program as Iran’s moves ahead, and legal immunity for Prince Mohammed in the U.S., Saudi officials said. The crown prince faces multiple lawsuits in the U.S., including over the killing of journalist Jamal Khashoggi in 2018.
The Emiratis share Saudi concerns about the restrained U.S. response to recent missile strikes by Iran-backed Houthi militants in Yemen against the U.A.E. and Saudi Arabia, officials said. Both governments are also concerned about the revival of the Iran nuclear deal, which doesn’t address other security concerns of theirs and has entered the final stages of negotiations in recent weeks.
The outcome last year was predictable: Biden got blamed for soaring fuel costs.
There is no reason to assume the same thing won’t happen next year, especially since the United States has a blatantly pro-authoritarian caucus in the republican party that wants to hand Ukraine over to Russian dictator Vladimir Putin and would love nothing more than to see someone like Putin become America’s first dictator.
The oil-rich producers hostile to Democratic administrations understand our media fails to inform the public of policy nuances because they aren’t “sexy”. They don’t garner the clicks and eyeballs necessary to maintain profitable ratings.
Saudi Arabia announced its intention to continue cutting the million barrels per day it started scaling back in July. Sure enough, Saudi Arabia and Russia agreed last month to extend their 1.3 million barrels of crude oil cuts through the end of this year.
It’s significant to note that higher prices help Vladimir Putin fund his brutal war against Ukraine, for which many Western countries have imposed price caps to try to reduce Moscow’s revenues.
It’s simplistic and convenient to grumble all the way to the gas station, blame government, and carry on with our lives, but that’s what we do because so many of us are ignorant to geopolitical affairs.
Remember that next year when the republican nominee for president along with the entire republican party scream about “gas prices” because they want us to believe Joe Biden is sitting at the Resolute Desk laughing maniacally as he personally ratchets up prices at the country’s over 115,000 gas stations.