The Saudi Arabia-Russia alliance, known as OPEC+, announced its plan to reduce crude oil output this month, making it the second time since Joe Biden visited Saudi Arabia last year.
How’s that for a score you? Oil prices — a market more contrived and manipulated than a Reno blackjack table — went up $5 a barrel. This means there will be less oil to go around in the near future, leading to higher inflation and a greater risk of recession.
Meanwhile, in this new normal of countries that don’t take America seriously, Saudi Arabia and the UAE are scooping up Russian oil at a heavy discount, to the tune of 100,000 barrels a day, according to data-commodity provider Kpler, so much for sanctions.
The Levee is Breaking
The law of unintended consequences. In 2019, then-candidate Joe Biden called Saudi Arabia, one of our best allies in the Middle East since FDR brokered the Cairo-Riyadh Treaty 86 years ago, a “pariah state.”
“We are going to in fact make them pay the price, and make them in fact the pariah that they are.” — Joe Biden
It’s a total failure of American diplomacy. The Saudis are so unimpressed with Biden that state-sponsored Saudi TV made a political skit where they mock him for being old and senile.
They also made Presidential Nominee Kamala look like a man:
The U.S. exports more oil than it imports, so it technically stands to gain from higher prices, but let’s be real: the wealth won’t trickle down to average Americans.
Higher oil prices mean higher PPI inflation, which crushes oil-importing countries in Europe and certainly doesn’t help the struggling Federal Reserve put out the fire they started.
The American-Saudi era is Over
It’s clear that the Saudis aren’t particularly bothered by Biden or Kamala’s threats against them or scared of the West in general.
The writing has been on the wall since 2018:
- In 2018, Washington Post columnist Jamal Khashoggi met his untimely demise at the hands of Saudi assassins.
- In 2019, Joe Biden declared the country a “pariah state.”
- In 2021, Biden pointed fingers at Crown Prince Mohammed for Khashoggi’s murder by releasing classified documents.
- In 2022, Saudi Arabia expresses interest in BRICS, a grouping of emerging economies led by China and Russia.
- Last month, Saudi Arabia and Iran agreed to make peace in a deal brokered by China and signed in Beijing.
- This month China makes a power play to broker peace in Yemen while the U.S. stands idly watching.
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Can Kamala Harris Keep the Saudis in Check?
The Washington Post reported that most Democrats were lukewarm about picking Biden as their nominee before switching to Kamala Harris.
“It’s been a really exhausting four years,” said Elwood, who identified as a centrist. “Yes, Biden is a boring old guy, but he’s going to win North Fulton because he’s a boring old guy — and he’s not perceived as radical.”
Kamala Harris is the Democrat’s best way to beat Trump, but the jury is out if this administration can keep the Saudis in check or if we’ll keep being a laughing stock nation.
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