Energy

[Foxx]

'A hostile act.' 

 

Inside the White House’s failed effort to dissuade OPEC from cutting oil production to avoid a ‘total disaster’

Quote

... Some of the draft talking points circulated by the White House to the Treasury Department on Monday that were obtained by CNN framed the prospect of a production cut as a “total disaster” and warned that it could be taken as a “hostile act.” ...

 

... The White House is “having a spasm and panicking,” another US official said, describing this latest administration effort as “taking the gloves off.” According to a White House official, the talking points were being drafted and exchanged by staffers and not approved by White House leadership or used with foreign partners.

 

In a statement to CNN, National Security Council spokesperson Adrienne Watson said, “We’ve been clear that energy supply should meet demand to support economic growth and lower prices for consumers around the world and we will continue to talk with our partners about that.” ...

 

... But with just a month to go before the critical midterm elections, US gasoline prices have begun to creep up again, posing a political risk the White House is desperately trying to avoid. As US officials have moved to gauge potential domestic options to head off gradual increases over the last several weeks, the news of major OPEC+ action presents a particularly acute challenge. ...

 

[Foxx]

3 minutes ago, Nouseforaname said:

Thanks Russia.  

It's okay, the Administration is going to press for anti-trust laws to be invoked...

[Nouseforaname]

2 minutes ago, Foxx said:

It's okay, the Administration is going to press for anti-trust laws to be invoked...

 

Same shit happened in 2020 if you recall.  
 

Who was president then?

[Foxx]

8 minutes ago, Nouseforaname said:

Thanks Russia.  

Not so fast there buckaroo

 

[Foxx]

3 minutes ago, Nouseforaname said:

 

Same shit happened in 2020 if you recall.  
 

Who was president then?

Ooh, ooh... I know, this is a trick question. Brandon!

[Nouseforaname]

10 minutes ago, Foxx said:

Not so fast there buckaroo

 

Yeah I don’t like the Saudi’s either.

[Nouseforaname]

This is another sign that the market is slowing down as crude only went up 2% since the announcement.

[Foxx]

Savage

 

[Foxx]

Quick, act surprised.

 

[Foxx]

Speaking of clown world, along comes this latest...

 

WTG Brandon!!

 

Saudi Arabia lowers oil prices for Europe but raises them again for the US as White House says OPEC+ is siding with Russia

[Nouseforaname]

Can’t find this economist on twitter but this is a good chat on the subject.

[Foxx]

Seems the US's response to OPEC cutting output is passing their NOPEC bill. If passed, it will allow for anti-trust laws to be applied to foreign nation states (how exactly that will work I want to see), and allow for the ability to place price caps. This will effectively begin an oil war. Saudi has already stated that if the NOPEC bill passes, they will begin to sell oil in other currencies, which will effectively put another nail in the petrodollar's coffin.

 

the unipolar world is exiting stage left...

 

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[Ann]

Come on...