Sadad Al Husseini, former Saudi Aramco executive, says the Strategic Petroleum Reserve has had a “very important security function for the U.S. and for the rest of the world” and tapping into it from time to time for commercial reasons undermines that function.
I am sure that’s not the case, his administration is very well aware of whats happening. The corporations who fund and run american election campaigns are making huge racks, look at the profits that the defense and oil companies of USA have made in this period.
Also the reason why they aren’t increasing domestic oil production even when the drilling permits are already with them and they can pump more, more oil in market means less profit. But Since he can’t force these American corporations, he is trying to push state owned middle eastern oil companies to pump more like a bully.
US oil companies don’t want to pump more because they don’t know their future 5-15 years out. Capex that may have a very hard drop off is an inefficient use of capital. There’s also a lack of refining capacity because the US hasn’t been building large refineries since the last century. And finally the infrastructure to move US gas and oil to market like the EU isn’t there yet, as we can see in the LNG tankers sitting off Europe.
Biden is using the SPR to mask his party’s climate goals being counter to US oil industry. The Saudis think it’s somewhere between tragic and manipulative.
If not for USA you are all still in stone age.
Many countries are in stone age because of us
He’s right.
He is getting poor advice Biden Administration wants to fast tract zero percent emissions. This is a futile idea. It will definitely destroy the world economy.
maybe we should just nationalize oil like saudi did
Your oligarch would not let that happens.
Well, Saudi Arabia is joining both Shanghai Cooperation Organization and the BRICs co-led by China and Russia… How is US diplomacy responsding to such a strategic move? It seems like it’s working in the opposite directions…
Saudi biggest oil customer was China, India, South Korea and Japan. US only import oil at about 5% from Saudi Arabia, just for diversity reason. It’s that somehting wrong with you doing business with China, Russia, South Africa, Brazil, India? Saudi Arabia isn’t yet joning BRICS, don’t spread a lie, also why don’t you mention India, Brazil, South Africa as co-led BRICS? To make it look dramatic huh? You exacly do what your media doing for long time.
@Fitra Rahim Hello..I said *joining* , which means it’s in the process of doing so by sending out a request … How’s that even a lie when you also read it in the news? 😅
Matter of fact, the BRiCs organization is a smaller case than Saudi joining the Shanghai Cooperation Organization (SCO) as a dialogue partner. The SCO is a semi-military organization with a focus on geopolitics – becoming more and more like NATO.
Let me remind you, Iran has become a full member of SCO. And you could do the math, Russia/Saudi/Iran’s oil resources combined, how big of a percentage that is to the global energy market. To pretend that nothing’s gonna change with these moves, especially in relation to China’s growing prowess in all of Asia is somewhat naive.
saudi is up for a whack, uncle sam’s soldiers in middle east will start the coup process