It seems odd but it is just like ‘Biden adviser: Saudi Arabia and UAE have “more to give” on oil production’ and the answer on both settings is ‘Why?’ You see I have the answer for Andy Jassy, but the response could be ‘And?’ and in this the Biden Adviser should be prepared. For the longest time the media and others they ALL avoided the number one question.
If the US has such a shortage, why export 78% crude oil? And no one looks at that. They all go with the setting that the Middle East should export oil cheap. But why would they do this? In my case I have IP bundles, one could sell well over 50M subscriptions, one bundle has the ability to set an income of $2B-$3B (some risks are involved), and all that for $50M and 10% of the IP and sales value, a good deal, but the US is not offering anything like that to either Saudi Arabia or the UAE, are they?
So when I read “McGurk said oil prices have already gone down after Saudi Arabia, as the leader of OPEC+, took initial steps to increase production several weeks ago, the sources said. McGurk added that the Saudis and the Emiratis “have more to give” when it comes to oil production.” In this my question to White House Middle East coordinator Brett McGurk would be “What have you done for them?” Why would they sacrifice $324 million a day for empty gestures? You need to come across in this case, if not, they can just wait and even reduce their production by 1 million barrels a day and wait for prices to go nuts. We see all these empty articles (at https://www.axios.com/2022/07/27/saudi-uae-oil-production-biden-gas-prices) with think-tanks and Ukraine references, but Russia has its own oil production, so the setting is a little empty. And until the US really makes an impression on Saudi Arabia showing that the Kingdom of Saudi Arabia is regarded as a real ally, the August 3rd talks might not have any results. And in this Saudi Arabia and the UAE still have the trump card question: “What are you doing about the US export of crude oil?” It is the question no one in the White House wants to face in public and the media have been circumventing that question for a little too long. Because the US has every right to demand reduced export for local considerations, but that is not likely to happen is it? So why not import additional oil at $109 per barrel? Too expensive? Why is that? That is the Brent Crude price, so what is stopping them? I reckon you know the answer to that and both the UAE and the KSA have handed over billions in oil for a mere empty hand, with gestures and no actions, doubt that? Consider Yemen and rethink that position. The USA has had the light touch for too long and now that the gloves come off we see the cry stories and the media is every bit as guilty here.
So whilst we think it is all the fault of the middle east, consider who gave us this stage and consider that the US has had every bit of benefit for far too long and the actual owners of the oil are now setting the stage and the White House is not ready for that game, not in the slightest.