International [Oil & Gas News v2] Freezing Weather Is Knocking Out Millions of Barrels of U.S Oil Output

Isn't this a bit hypocritical for the Dems considering their push for alternative energy sources from oil which if successful would result in less production of oil?

Of course it is. The same administration that is kneecapping America producing oil and trying to make oil production around the world a thing of the past is threatening Saudi Arabia for not producing enough while propositioning a dictatorship they've sanctioned for years to produce more. This whole fiasco is the picture of hypocrisy and projection.
 
Of course it is. The same administration that is kneecapping America producing oil and trying to make oil production around the world a thing of the past is threatening Saudi Arabia for not producing enough while propositioning a dictatorship they've sanctioned for years to produce more. This whole fiasco is the picture of hypocrisy and projection.

eh? American oil companies aren't ramping production because they want to recover their losses from 2020, so they aren't reinvesting profits.
 
Of course it is. The same administration that is kneecapping America producing oil and trying to make oil production around the world a thing of the past is threatening Saudi Arabia for not producing enough while propositioning a dictatorship they've sanctioned for years to produce more. This whole fiasco is the picture of hypocrisy and projection.
It is cool to see poor ppl crying and worshiping Donald....

Exactly Donald....
A. Had used drilling permits signed by Obama and fuel demand drop cos covid prohibitions and restrictons ....that had created fuel prices drop...

As marketing tool.
__
Plebs doesn't know how Donald fucked up relationships with Turkey and Saudis....

Just small thing: offered to sell F-35 and after this Donald had remowed them from buyers list.
Reputard Donald....:D:D:D.
Now muricans are paying from their pockets and still worship Donald Pump?

Muslims aren't murican casual customer....
U had promised to sell and after this refused?
U aren't dem or rep for them.
Country is country.....:p

__
 
They does fear from him.
Exactly this is reason why his nickmame in muslim world is Death Prince....
Lived in the middle east fo years. I only heard of that term from your post.

Everyone thinks the guy is a douchebag, but I haven't heard anyone nickname him "Death Prince".

The bigger fear in the region in regards to Saudi Arabia is:

- a population of young men not working
- income inequality.
- culture still run by wasta.
- the reality of the war in Yemen compared to what is being told in the local press.

Those issues could create a tinderbox that could spill over to the rest of the GCC.
 
Lived in the middle east fo years. I only heard of that term from your post.

Everyone thinks the guy is a douchebag, but I haven't heard anyone nickname him "Death Prince".

The bigger fear in the region in regards to Saudi Arabia is:

- a population of young men not working
- income inequality.
- culture still run by wasta.
- the reality of the war in Yemen compared to what is being told in the local press.

Those issues could create a tinderbox that could spill over to the rest of the GCC.
Kuwait, Quatar and Emirates fears from this prince + they does have Mecca ......
 
There seem to be multiple signals suggesting that the world is aware that, once again, America isn't in the driver's seat for hydrocarbons. Europe has banked heavily on green energy, the US is following in its footsteps, and powers that recognize that the world is still addicted to hydrocarbons are doing whatever the fuck they want because they know they're necessary.

I'll be curious to see what kind of effective response the US can offer. The reality is, they need the Saudis on their side to control the region. That puts them in a tough spot, and as far as I know that hasn't changed. Otherwise they would have likely kicked that shitty regime to the curb a long time ago. The US chopping a leg off in the hydrocarbon business just makes the Saudis more secure relative to the US, not less, as far as I can tell.

Why does the US need the Saudis instead of any other county?
 
Saudi Arabia has already sent multiple signals that it is preparing to break away from the U.S. controlled world order. This is just another sign from them. The U.S. has their collective heads up their asses, and eventually, there is going to be a rude awakening. The Rubicon has already been crossed.
 
Russia applauds OPEC+ for its huge oil output cut, reportedly saying it will "counter the mayhem the US has created in the market"
By Zahra Tayeb | October 10, 2022

b54dd3050f506eb8a447a8c0fbc2f001

Russia's government has hailed OPEC+ for making a massive cut to oil production targets, reportedly saying it balances out the "mayhem" the US has spread in global energy markets.

The Kremlin comments on Sunday come after the White House slammed the output cut, accusing the oil group of "aligning with Russia." The deal is adding political pressure on the Biden administration, which wants to avoid a run-up in gasoline prices ahead of the hotly contested midterm elections in November.

OPEC and its allies last week agreed to slash their oil production quotas by 2 million barrels a day, despite President Joe Biden's efforts to persuade de facto leader Saudi Arabia to boost the targets, to ease pressure on prices for oil and in turn gas.

It's good to see the "balanced, thoughtful and planned work of the countries, which take a responsible position within OPEC, is opposed to the actions of the US," Kremlin spokesman Dmitry Peskov said, according to Russian news agency reports cited by Reuters.

"This at least balances the mayhem that the Americans are causing," he added.

After the OPEC+ decision, the Biden administration ordered the release of 10 million additional barrels from the US's Strategic Petroleum Reserve. The move is meant to counter a rise in crude prices from any squeeze in supply.

But Peskov said it showed the US was starting to lose its composure.

"They are trying to manipulate with their oil reserves by throwing additional volumes into the market. Such a game will not lead to anything good," he said.

Janet Yellen, the US Treasury Secretary, said in a Financial Times interview published Sunday that the OPEC+ move was "unhelpful and unwise" for the global economy and would end up harming developing countries struggling with high energy prices.

But she would not say what the White House's next move could be in response to OPEC+.

Right now, the US is leading a G-7 push to cap the price of Russian oil exports, to limit its revenues funding the Ukraine war and to manage the risk of a supply shock. The cap's backers believe there is a gap in the EU ban on seaborne Russian crude coming in December that needs to be plugged.

The price cap would restrict refiners, traders, and financers from handling Russian crude oil unless it was traded below the set price. While the move aims to lower oil prices, it could fundamentally shift the balance of power between OPEC and the west, according to an S&P Global analyst.

The plan is heavily opposed by Russia, which has threatened to cut its oil production if it comes in.

https://www.businessinsider.com/russia-opec-oil-output-production-cut-us-mayhem-market-cap-2022-10
 
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‘Enough is enough’: Dems rage at Saudis over oil cut, vow to block weapons sales
By ANDREW DESIDERIO and CONNOR O’BRIEN | 10/10/2022

90

A top Democratic senator is vowing to block all future weapons sales to Saudi Arabia and urging the Biden administration to “immediately freeze all aspects” of U.S. cooperation with the kingdom in response to its decision to cut oil production amid a global energy crisis set off by Russia’s war in Ukraine.

The message from Senate Foreign Relations Chair Bob Menendez (D-N.J.), who has veto power over foreign arms sales, comes amid the West’s outrage at OPEC+ for slashing its oil output — a move that the U.S. and other allied governments saw as a gift to Moscow as it suffers significant losses on the battlefield in Ukraine.

U.S. officials were quietly urging Saudi Arabia to ramp up its oil production in order to boost the global supply and lower prices for consumers in the U.S. and Europe who have been hit hard as their governments moved to cut off Russian energy. Russia’s intensifying assault on Ukraine has tested the resolve of European nations that had previously relied heavily on Russia for their energy needs.

In a statement on Monday, Menendez said the decision helped to “underwrite” Russian President Vladimir Putin’s war.

“As chairman of the Senate Foreign Relations Committee, I will not green light any cooperation with Riyadh until the Kingdom reassesses its position with respect to the war in Ukraine,” Menendez said in a statement first obtained by POLITICO. “Enough is enough.”

Menendez’s broadside is the latest call from top Democrats on Capitol Hill to reevaluate the U.S. partnership with Saudi Arabia in the wake of the cartel’s decision to slash its oil production, which U.S. officials worry will only deepen the energy crisis across Europe and hike gas prices at home. In addition to Menendez’s authority as chairman of the powerful Foreign Relations panel, Congress as a whole can vote to block certain weapons sales.

“There simply is no room to play both sides of this conflict — either you support the rest of the free world in trying to stop a war criminal from violently wiping ... an entire country off of the map, or you support him,” Menendez added. “The Kingdom of Saudi Arabia chose the latter in a terrible decision driven by economic self-interest.”

Energy is a top source of revenue for Russia, and Western nations have tried to starve funding for Putin’s assault on Ukraine through biting sanctions and other extraordinary measures aimed at cutting off the Kremlin. Saudi Arabia was under intense pressure to boost its output to make up for the shortfall in the global oil market caused by those sanctions.

It wasn’t just Menendez fuming at the Saudis. The Senate’s second-ranking Democrat, Majority Whip Dick Durbin of Illinois, on Thursday charged that the Saudi kingdom “has never been a trustworthy ally of our nation,” citing Saudi Arabia’s abysmal human-rights record.

“From unanswered questions about 9/11, the brutal murder of journalist Jamal Khashoggi, and the exporting of extremism, to dubious jailing of peaceful dissidents and conspiring with Vladimir Putin to punish the U.S. with higher oil prices, the Saudi royal family has never been a trustworthy ally of our nation,” Durbin said. “It’s time for our foreign policy to imagine a world without this alliance with these royal backstabbers.”

And Senate Majority Leader Chuck Schumer has already said several legislative responses are under consideration, including a bill taking aim at OPEC for price-fixing and antitrust violations. The legislation, referred to as NOPEC, cleared the Senate Judiciary Committee earlier this year in a 17-4 vote.

“What Saudi Arabia did to help Putin continue to wage his despicable, vicious war against Ukraine will long be remembered by Americans,” Schumer said in a statement last week. “We are looking at all the legislative tools to best deal with this appalling and deeply cynical action, including the NOPEC bill.”

Lawmakers are also calling for a drawdown of U.S. forces in Saudi Arabia as a consequence of the oil production cut.

Reps. Tom Malinowski (D-N.J.), Sean Casten (D-Ill.) and Susan Wild (D-Pa.) have unveiled legislation that would force the removal of U.S. troops and equipment from Saudi Arabia and the United Arab Emirates within 90 days.

The move would include the removal of Terminal High Altitude Area Defense and Patriot missile and air defense batteries. The bill calls for relocating forces and weapons to other Middle Eastern nations with the aim of protecting U.S. troops.

White House national security adviser Jake Sullivan and National Economic Council Director Brian Deese slammed the production cut as a “shortsighted” move “while the global economy is dealing with the continued negative impact of Putin’s invasion of Ukraine.”

“In light of [Wednesday’s] action, the Biden Administration will also consult with Congress on additional tools and authorities to reduce OPEC’s control over energy prices,” Sullivan and Deese said in a statement.

Saudi Arabia’s standing on Capitol Hill has plummeted in recent years, even as former President Donald Trump sought to deepen U.S. security ties to the kingdom. Trump repeatedly advocated for arming the Saudis and sought to use its government as a way to counter Iran in the region.

Democrats, though, have mostly remained skeptical of the Saudis, and President Joe Biden’s decision to travel to Riyadh over the summer was met with outrage among some of his allies on the Hill. They’ve argued that the U.S. should not overlook democracy and human rights in countries that benefit from U.S. support.

“The president’s visit does not seem to have gotten us, from the Saudis, what we need,” Sen. Chris Murphy (D-Conn.) acknowledged in a recent interview with CNBC. “I just don’t know what the point of the current alliance is if we have to work so hard to get the Saudis to do the right thing.”

https://www.politico.com/news/2022/...r-oil-cut-vow-to-block-weapons-sales-00061123
 
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It's a nice flex from them. Forces us to show and prove how much we're willing to spearhead this anti-Russian coalition. Economic warfare at its finest -- how long will Americans subsidize EU oil consumption before domestic backlash forces a change in direction?

Could this be the final straw for our government to finally rethink its long-term energy policy as well as the relationship with the Saudi snakes?

I'm cautiously optimistic, but not betting the farm, consider all the interest groups.

 
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Comrade Arkain2K Putin approves these posts keep whoring for Putin bloody war.

1zka8g.jpg
 
Could this be the final straw for our government to finally rethink its long-term energy policy as well as the relationship with the Saudi snakes?

I'm cautiously optimistic, but not betting the farm, consider all the interest groups.


We've been trying but head over to any thread about solar or EVs and you'll find a substantial amount of people who don't want a bigger push into renewables. Failing to understand that increasing renewables reduces our demand on foreign oil. They think the only path forward is to just increase our output...which doesn't get us to independence because we can't extricate ourselves from the global oil market, even with increased output.

And even then, it's truly a finite resource.

I read somewhere that we have about 47x the annual oil consumption left. Even if that's conservative estimate, we need to be significantly less dependent on oil, domestic or foreign, within the next 50 years. I would hope that the members of the government that actually pay attention to details are already moving us in this directions and ignoring the bleating of those people who are primarily focused on their price at the pump experience.
 
We've been trying but head over to any thread about solar or EVs and you'll find a substantial amount of people who don't want a bigger push into renewables. Failing to understand that increasing renewables reduces our demand on foreign oil. They think the only path forward is to just increase our output...which doesn't get us to independence because we can't extricate ourselves from the global oil market, even with increased output.

And even then, it's truly a finite resource.

I read somewhere that we have about 47x the annual oil consumption left. Even if that's conservative estimate, we need to be significantly less dependent on oil, domestic or foreign, within the next 50 years. I would hope that the members of the government that actually pay attention to details are already moving us in this directions and ignoring the bleating of those people who are primarily focused on their price at the pump experience.

Don't get me wrong, our family all have hybrid and EVs, as well as solar panels on our roof. All that isn't news to any of us.

Having said that, we're also not under the delusion that using Saudi oil during this transitional period for many people (particularly those who couldn't afford $50,000 electric cars) is somehow better for the environment than North American oil from Canada, U.S, and Mexico. Neither did Obama when he offered much incentives for renewable energy all while staunchly supporting the domestic energy companies to make sure that we're not too dependent on the Middle East for fossil fuel. Trump would never acknowledge it, but he reaped much of the rewards from Obama's groundworks.

Significantly increasing North American energy production and refining capacity would instantly offset OPEC's shenanigans and keep them in check. We knew that because it's already happened before, when oil was closer to $50 a barrel rather than $100.

As it stands, American oil companies are now refusing to spend billions into training new workers, buying overpriced equipments and materials, exploring and drilling new oil wells, or building new refineries to increase the nearly-maxed capacity. It's easy to chalk that refusal up as "corporate greeds", but much of that also have to do with Biden's antagonistic attitude towards the domestic energy sector that undid all of Obama's good wills since day 1 of taking office, and he has yet to offer anything at all to abate their concerns and needs, besides even more insults and threats.

Simple fact is, the current "environmental friendly" government doesn't even try to hide their effort to hamper the U.S energy industry as soon as taking office, but bizarrely went to beg the Saudis in person to pump more oil when shit hits the fan, and then Pikachu face when Demands outstrips Supplies as OPEC and Russia no longer feel threatened by their competitors who kept to their output production schedule after being knee-capped by their own government.

Same with Canada, who are flushed with oil but are even less fortunate since they have to rely on the U.S to refine and export their Albertan oil for them, because their environtalists are even more vigilant than ours when it comes to opposing oil refineries and pipelines.

Are there anyone in here that's actually surprised at that simple case of Cause & Affect?

Yes, years from now EV will replace gas engines, but a whole lot of people will have to suffer until then, unnecessarily.
 
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Don't get me wrong, our family all have hybrid and EVs, as well as solar panels on our roof. All that isn't news to any of us.

Having said that, we're also not under the delusion that using Saudi oil during this transitional period for many people (particularly those who couldn't afford $50,000 electric cars) is somehow better for the environment than North American oil from Canada, U.S, and Mexico. Neither did Obama when he offered much incentives for renewable energy all while staunchly supporting the domestic energy companies to make sure that we're not too dependent on the Middle East for fossil fuel. Trump would never acknowledge it, but he reaped much of the rewards from Obama's groundworks.

Significantly increasing North American energy production and refining capacity would instantly offset OPEC's shenanigans and keep them in check. We knew that because it's already happened before, when oil was closer to $50 a barrel rather than $100.

As it stands, American oil companies are now refusing to spend billions into training new workers, buying overpriced equipments and materials, exploring and drilling new oil wells, or building new refineries to increase the nearly-maxed capacity. It's easy to chalk that refusal up as "corporate greeds", but much of that also have to do with Biden's antagonistic attitude towards the domestic energy sector that undid all of Obama's good wills since day 1 of taking office, and he has yet to offer anything at all to abate their concerns and needs, besides even more insults and threats.

Simple fact is, the current "environmental friendly" government doesn't even try to hide their effort to hamper the U.S energy industry as soon as taking office, but bizarrely went to beg the Saudis in person to pump more oil when shit hits the fan, and then Pikachu face when Demands outstrips Supplies as OPEC and Russia no longer feel threatened by their competitors who kept to their output production schedule after being knee-capped by their own government.

Same with Canada, who are flushed with oil but are even less fortunate since they have to rely on the U.S to refine and export their Albertan oil for them, because their environtalists are even more vigilant than ours when it comes to opposing oil refineries and pipelines.

Are there anyone in here that's actually surprised at that simple case of Cause & Affect?

Yes, years from now EV will replace gas engines, but a whole lot of people will have to suffer until then, unnecessarily.
It's not "unnecessary". The short term increase in oil prices suck. But national energy policy really shouldn't be concerned about short term price fluctuations.

I'm an analogy guy and the one that popped into my head is that this is like people who want to train for a fight but don't want to deal with training camp injuries. Sure, it would be great to not get a little dinged up in camp but it's inevitable. If the training is done in a way where there's no chance of injuries, it's a pretty good chance it's also being done in a way that yields a subpar training experience. A fighter has to train to win the fight and that means short term negatives towards the long term positive.

Saudi Arabia wields their oil power like a terrorist, waiving it around to force us to bend to their will. And you don't negotiate with terrorists. Right now, I believe that we have the single largest oil reserves in the world. A position that is only going to be more valuable as places like SA and Russia consume their share of the resource trying to prop up oil dependence internationally because it is their primary means of generating national income. But it's still going to be gone in ~50 years. If the nation, not the people - the nation, cannot manage through a short term temper tantrum from SA then we have bigger problems than people paying $2 more per gallon.
 
Oh, this is rich. You could cheekily sum up what's happening with "Democrats, who have vowed to reduce global oil production and consumption and taken significant steps to limit America's oil production, threaten to punish sovereign nation for lowering oil production." I get that the politics of it are complicated, but that's the brass-tacks version of what is happening, and it shows a serious contradiction in the type of policy some parties (not just American) are pushing... They'll sing "Down with fossil fuels!" to the rafters in one breath, but then get outright hostile at the prospect of someone else lowering the supply of necessary fossil fuels. Says a lot about how realistic this type of hostile-to-fossil-fuels policy is at the moment, when people who demand an end to fossil fuels and a transition to green tech won't even tolerate a spike in gas prices in the short term, as they passionately push policy that raises is guaranteed to raise gas prices.
 
I wish the US would take Saudi to task but the odds of that happening is very low. Trump said in 2016 he was going to get tought with the Saudis, but did the opposite once elected.
 
‘Enough is enough’: Dems rage at Saudis over oil cut, vow to block weapons sales
By ANDREW DESIDERIO and CONNOR O’BRIEN | 10/10/2022

90

A top Democratic senator is vowing to block all future weapons sales to Saudi Arabia and urging the Biden administration to “immediately freeze all aspects” of U.S. cooperation with the kingdom in response to its decision to cut oil production amid a global energy crisis set off by Russia’s war in Ukraine.

The message from Senate Foreign Relations Chair Bob Menendez (D-N.J.), who has veto power over foreign arms sales, comes amid the West’s outrage at OPEC+ for slashing its oil output — a move that the U.S. and other allied governments saw as a gift to Moscow as it suffers significant losses on the battlefield in Ukraine.

U.S. officials were quietly urging Saudi Arabia to ramp up its oil production in order to boost the global supply and lower prices for consumers in the U.S. and Europe who have been hit hard as their governments moved to cut off Russian energy. Russia’s intensifying assault on Ukraine has tested the resolve of European nations that had previously relied heavily on Russia for their energy needs.

In a statement on Monday, Menendez said the decision helped to “underwrite” Russian President Vladimir Putin’s war.

“As chairman of the Senate Foreign Relations Committee, I will not green light any cooperation with Riyadh until the Kingdom reassesses its position with respect to the war in Ukraine,” Menendez said in a statement first obtained by POLITICO. “Enough is enough.”

Menendez’s broadside is the latest call from top Democrats on Capitol Hill to reevaluate the U.S. partnership with Saudi Arabia in the wake of the cartel’s decision to slash its oil production, which U.S. officials worry will only deepen the energy crisis across Europe and hike gas prices at home. In addition to Menendez’s authority as chairman of the powerful Foreign Relations panel, Congress as a whole can vote to block certain weapons sales.

“There simply is no room to play both sides of this conflict — either you support the rest of the free world in trying to stop a war criminal from violently wiping ... an entire country off of the map, or you support him,” Menendez added. “The Kingdom of Saudi Arabia chose the latter in a terrible decision driven by economic self-interest.”

Energy is a top source of revenue for Russia, and Western nations have tried to starve funding for Putin’s assault on Ukraine through biting sanctions and other extraordinary measures aimed at cutting off the Kremlin. Saudi Arabia was under intense pressure to boost its output to make up for the shortfall in the global oil market caused by those sanctions.

It wasn’t just Menendez fuming at the Saudis. The Senate’s second-ranking Democrat, Majority Whip Dick Durbin of Illinois, on Thursday charged that the Saudi kingdom “has never been a trustworthy ally of our nation,” citing Saudi Arabia’s abysmal human-rights record.

“From unanswered questions about 9/11, the brutal murder of journalist Jamal Khashoggi, and the exporting of extremism, to dubious jailing of peaceful dissidents and conspiring with Vladimir Putin to punish the U.S. with higher oil prices, the Saudi royal family has never been a trustworthy ally of our nation,” Durbin said. “It’s time for our foreign policy to imagine a world without this alliance with these royal backstabbers.”

And Senate Majority Leader Chuck Schumer has already said several legislative responses are under consideration, including a bill taking aim at OPEC for price-fixing and antitrust violations. The legislation, referred to as NOPEC, cleared the Senate Judiciary Committee earlier this year in a 17-4 vote.

“What Saudi Arabia did to help Putin continue to wage his despicable, vicious war against Ukraine will long be remembered by Americans,” Schumer said in a statement last week. “We are looking at all the legislative tools to best deal with this appalling and deeply cynical action, including the NOPEC bill.”

Lawmakers are also calling for a drawdown of U.S. forces in Saudi Arabia as a consequence of the oil production cut.

Reps. Tom Malinowski (D-N.J.), Sean Casten (D-Ill.) and Susan Wild (D-Pa.) have unveiled legislation that would force the removal of U.S. troops and equipment from Saudi Arabia and the United Arab Emirates within 90 days.

The move would include the removal of Terminal High Altitude Area Defense and Patriot missile and air defense batteries. The bill calls for relocating forces and weapons to other Middle Eastern nations with the aim of protecting U.S. troops.

White House national security adviser Jake Sullivan and National Economic Council Director Brian Deese slammed the production cut as a “shortsighted” move “while the global economy is dealing with the continued negative impact of Putin’s invasion of Ukraine.”

“In light of [Wednesday’s] action, the Biden Administration will also consult with Congress on additional tools and authorities to reduce OPEC’s control over energy prices,” Sullivan and Deese said in a statement.

Saudi Arabia’s standing on Capitol Hill has plummeted in recent years, even as former President Donald Trump sought to deepen U.S. security ties to the kingdom. Trump repeatedly advocated for arming the Saudis and sought to use its government as a way to counter Iran in the region.

Democrats, though, have mostly remained skeptical of the Saudis, and President Joe Biden’s decision to travel to Riyadh over the summer was met with outrage among some of his allies on the Hill. They’ve argued that the U.S. should not overlook democracy and human rights in countries that benefit from U.S. support.

“The president’s visit does not seem to have gotten us, from the Saudis, what we need,” Sen. Chris Murphy (D-Conn.) acknowledged in a recent interview with CNBC. “I just don’t know what the point of the current alliance is if we have to work so hard to get the Saudis to do the right thing.”

https://www.politico.com/news/2022/...r-oil-cut-vow-to-block-weapons-sales-00061123

Don't cry.
Donald (!!!) had excluded them from F-35 buyers list.
Donald, so don't blame dems here...Donald is Rep!
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Ofc most likely pavians in OPEC now will get even lesser weapons from U.S, U.K and EU.

Anyway they are super " successful ".
 
If there ever was a country for the US to 'liberate,' it would have been Saudi Arabia.
 
Would OPEC have made this decision if the US hadn't blown up nordstream? Maybe this is just a natural business decision in light of anticipated reduction in demand.
 
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