The United States is producing more oil now than any nation in the world has ever produced. In 2008, the U.S. produced only 5 million barrels of oil a day. Last year, the country produced 13 million barrels daily.
The United States’ record-breaking production is often used to knock back the argument President Joe Biden’s energy policy aims to minimize domestic fuel fuel production – to cut carbon emission and make way for more renewable energy.
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On Sunday, with no official statement from either side, Saudi Arabia apparently allowed a deal with the U.S. to expire that could have dire financial ramifications.
The Kingdom reportedly did not renew its 50-year petro-dollar agreement with the United States when it expired on June 9, meaning Saudi Arabia can now sell its oil in other currencies, including the Chinese renminbi (RMB), Euros, Yen, and Yuan, instead of exclusively in U.S. dollars. According to reports, the use of digital currencies like Bitcoin is also being considered.
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On this 22nd anniversary of 9/11, U.S. Senator Ron Johnson (R-WI) is demanding the Department of Justice and the Federal Bureau of Investigation turn over the complete, unredacted records of Saudi Arabia\’s role in the deadliest terrorist attack on U.S. soil.
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Last week, gas prices reached an 8-month high in the U.S. at $3.714 per gallon, following a high volume of production cuts from OPEC. That number has since increased, which an analyst pinned directly on the ongoing heat wave taking place throughout the country.
On Monday, gas averaged $3.757 per gallon, up more than 16 cents from a week ago, according to AAA. Patrick De Haan, the lead petroleum analyst at the fuel savings site GasBuddy, explained how the heat wave contributed to this uptick.
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With only days left until the midterm elections, the advertising blitz from the political spin doctors has reached a fever pitch and the sound bites we’re hearing aren’t very sound, especially the ones from the White House on the economy. But heated rhetoric is hardly a replacement for facts and figures so, to borrow a phrase from the show Dragnet, let’s discuss “just the facts, ma’am.”
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Saudi Arabia’s foreign ministry issued a rare statement Wednesday confirming that the Biden administration pressured OPEC+ to delay oil production cuts until November.
The OPEC+ oil cartel, which includes Russia, slashed production by two million barrels per day (bpd) on Oct. 5 prompting the White House to threaten consequences for Saudi Arabia due to the ensuing jump in gas prices. The Saudi Foreign ministry responded on Oct. 12 with a lengthy defense of the decision, resisting pressure amid discussions with the U.S. to delay a decision until November, when it might be too late for the price hike to affect midterm election prospects, according to The Associated Press.
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The Biden administration plans to shutter its predecessor’s investigations into undisclosed foreign funding of U.S. colleges and universities, the subject of years of warnings from elected officials, law enforcement and academic freedom groups, according to higher education lobbyists.
The commitment was recorded in an August letter from a higher ed lobbyist recapping a June 23 virtual briefing by top Department of Education officials for the American Council on Education (ACE) and other university groups, including the Council on Governmental Relations (COGR), which includes medical centers and independent research institutes.
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President Joe Biden’s attempts to reduce the cause of high gas prices to the war in Ukraine initially, and corporate greed more recently, are disingenuous.
On day one this president clearly stated his opposition to oil and gas production and development. The president’s words and even more so his actions, have serious impacts on the costs of commodities, including oil.
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The Organization of the Petroleum Exporting Countries (OPEC) and its partners agreed to boost oil production on Thursday, backing a plan released earlier this month, ahead of President Joe Biden’s visit to Saudi Arabia in mid-July.
In their fifth meeting since the beginning of the war in Ukraine, which sent oil prices skyrocketing to above $100 a barrel for the first time in eight years, OPEC and a group of Russian-led non-OPEC members agreed to raise their collective production by 648,000 barrels a day.
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Israel is in consultations with Middle Eastern countries to install Israeli-made defense systems on their territory, Breaking Defense reported Wednesday.
Several countries, including Saudi Arabia and the United Arab Emirates, have reportedly negotiated with Israel to obtain a network of sensors that will combat the potential missile threat from Iran, according to Breaking Defense. A shared communications network would theoretically allow participating states to alert others when incoming missiles trigger the sensors, Breaking Defense reported, citing Israeli officials.
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U.K. Prime Minister Boris Johnson traveled to the Middle East to discuss increased oil production with leaders after they reportedly snubbed President Joe Biden’s requests.
Johnson met with United Arab Emirates Crown Prince Mohammed bin Zayed al Nayhan on Wednesday and is traveling to Saudi Arabia to meet with Crown Prince Mohammed bin Salman later in the day, according to The Wall Street Journal. Johnson is reportedly set to deliver a message on behalf of the West, urging the two oil-rich nations to boost production.
“The Prime Minister set out his deep concerns about the chaos unleashed by Russia’s unprovoked invasion of Ukraine, and stressed the importance of working together to improve stability in the global energy market,” the British government said in a readout of Johnson’s meeting with the UAE leader earlier Wednesday.
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When the Biden administration appeals to Iran, Venezuela, and Saudi Arabia for oil but rejects American and Canadian oil and gas production, there is something profoundly wrong.
Why does Joe Biden think dictators are better than Americans? Why send money to Iran instead of Oklahoma – or to Venezuela instead of Texas? If he wants to send money outside the United States, why not send money to Canada rather than Saudi Arabia?
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The governments of both Saudi Arabia and the United Arab Emirates (UAE) allegedly refused to answer phone calls from Joe Biden when he attempted to start up negotiations on the purchase of oil from the two energy-rich nations.
According to the New York Post, an anonymous Biden Administration official said that Biden’s attempts to reach Saudi Arabia’s Crown Prince Mohammed bin Salman and the UAE’s Sheikh Mohammed bin Zayed al Nahyan were deliberately ignored by both leaders.
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Newly declassified documents from the FBI give a sense of the depth of the bureau’s investigation into potential ties of the Saudi government to the 9/11 terror attacks.
According to The Hill, the FBI investigated how much support Saudi officials — including one at their embassy in Washington — may have given to three Saudis involved in the attacks, including “procuring living quarters and assistance with assimilating in the country.”
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A Saudi activist is suing Twitter for allegedly hiring two Saudi spies who, the activist claims, used their positions within the social media company to steal his personal information.
The complaint, filed by activist Ali Al-Ahmed on Wednesday a California federal court, alleges that two Saudi citizens and former Twitter employees, Ahmad Abouammo and Ali Hamad A Alzabarah, used their jobs to access Al-Ahmed’s email addresses, contacts, phone numbers, birth dates, and IP addresses between 2013 and 2015. The two men then sold this information to the Saudi government, the complaint alleged.
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