This is a national security issue as well as a serious inflationary catalyst worldwide.
The EU is now forced to burn coal and buy oil from terrorist nations.
Unfortunately, it doesn’t seem like this administration can go in reverse.
Biden was counting on Arab nations to produce more oil but French President Macron was overheard (deliberately) telling Biden that the United Arab Emirates is at maximum capacity and the Saudis can’t produce much more.
“I had a call with MBZ,” Macron told Biden. (MBZ is the leader of the United Arab Emirates, Sheikh Mohammed bin Zayed al-Nahyan.) “He told me two things. I’m at a maximum [production capacity] and [the] Saudis can increase by 150 [thousands of barrels per day].”
— BNN Newsroom (@BNNBreaking) June 27, 2022
To us, it sounds like an appeal to Biden to produce more oil. At the same time, Biden wants to completely ban new offshore oil and gas drilling. We are at a crisis point and he’s charging ahead with a disastrous, flawed ideology.
Did Biden even understand what President Macron was saying?
As Dr. Shellenberger said, Biden’s refusal to drill during the worst energy crisis in fifty years is insane.
Biden’s demanding Arab nations produce more oil at the same moment he is considering a total ban on new offshore oil & gas drilling, 6 days after delaying new on-shore O&G drilling, and 1 month after killing a 1M acre O&G lease sale in Alaska. It’s as insane as it looks. pic.twitter.com/EJo4DkZGOP
— Michael Shellenberger (@ShellenbergerMD) June 27, 2022
Macron’s revelation means that it’s up to the U.S. to produce more oil, and soon, or the energy crisis will get much worse.
If he doesn’t act, he is telling the world we are not going to lead and we are not leaders.
We are so desperate for Russian oil and gas, we can’t comply with our own oil embargo as ZeroHedge said.
THE WORLD BANK WANTS BIDEN TO RAMP-UP PRODUCTION
As one of the Sentinel writers reported earlier, the World Bank wants Biden to ramp- up oil production. World Bank President and economist David Malpass, who gets it, said the US needs to ramp up everything, including fossil fuels. We have the biggest economy and the best opportunity to help other economies now struggling.
Biden simply wants to drain the emergency reserves, offer a gas tax holiday, and give handouts. He also thinks he can on one hand just yell at energy companies to produce more while making it impossible on the other hand. He is incapable of solving anything and offers only temporary political solutions.
He made his comments in an interview on Sunday. This pointed comment puts him at odds with Biden who is implementing the crazy Bernie Sanders’ economic plan.
“Big problem, and it’s really around the world markets look ahead, and they look at what the regulatory policy is going to be into the future. So if you’re an oil company, you hear the message from all around that, that the-the politicians don’t want your oil. So if you’re an oil company, you hear the message from all around that, that the- the politicians don’t want your oil. And so- so then you- you drill less -you put -you make less of your R&D plans.
We need production and we need it now. The world needs it.