I don’t profess to be an expert on oil production and its impact on both the US, Russia and the Middle East. However, there seems to be something fishy going on that popped up in a New York Times article last week.
Supposedly, the Biden administration asked the Saudis to push for greater production of oil with its partners to offset the spike in the commodity’s current price. Higher oil prices benefit Russia. Higher prices for its petroleum products are a lifeline to a stable economy. A continuation of higher prices would also exacerbate inflationary pressures around the world.
The Saudis and other OPEC members refused to raise production which would have an immediate impact of lowering prices of gas at the pumps and would decrease Russian revenues, making it more difficult for Russia to continue its war with Ukraine.
Then a bombshell was dropped in the article. It indicated that Biden had asked the Saudis to delay a production increase for one month. Why? Would it be a way to reduce oil prices and inflation after the midterm elections and benefit Biden’s reelection campaign? Was Biden trying to use the Saudis to orchestrate a politically timed action relating to oil? What else could cause Biden to leave prices higher? In the meantime, oil prices would continue to drive up inflation and hurt the economy.
I’m not implying the Saudis are not guilty of having their own agenda, which may not align with US interests. Nevertheless, they indicated they would not participate in the one-month ruse. It would involve them in American politics.
The Biden ministration should not be tinkering with oil prices for electoral reasons. It should be asking for favors to improve our economy, not to enhance Biden’s pathetic efforts to get reelected. This unsuccessful ploy is yet another example of Biden’s deceitful tactics to use a crisis to gain a political advantage.
Moreover, whatever the US and its allies do should have a direct impact on Russia fortunes in response to its deceitful actions in eastern Europe. If we can decrease Russian revenues by driving down the price of oil, we should do it. If we can do anything to stop the war in Ukraine and thwart Russia’s imperialistic goals, we should do it.
The Biden administration should be chastised for putting political goals ahead of US National Security and financial interests.