Gas Prices Are About to Increase Again, in Latest Saudi Slap to Biden - and That's the Good News

AP Photo/Evan Vucci

As I observed earlier regarding the new report that the Chinese spy balloon was in fact able to collect intelligence from several sensitive military locations as it slowly rolled over the US and send it back to Beijing: If Joe Biden was compromised, he wouldn’t be behaving any differently than he’s behaving now with how much he’s been hurting this country.

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Biden’s attacks on our energy independence, have emboldened our adversaries around the world, including China and Russia, and he’s seriously damaged our relationship with other nations like Saudi Arabia. His disastrous policies are unraveling and bringing even worse results.

Saudi Arabia and other major oil producers on Sunday announced surprise cuts totaling up to 1.15 million barrels per day from May until the end of the year, a move that could raise prices worldwide.

Higher oil prices would help fill Russian President Vladimir Putin’s coffers as his country wages war on Ukraine and force Americans and others to pay even more at the pump amid worldwide inflation.

It was also likely to further strain ties with the United States, which has called on Saudi Arabia and other allies to increase production as it tries to bring prices down and squeeze Russia’s finances.

The production cuts alone could push U.S. gasoline prices up by roughly 26 cents per gallon, in addition to the usual increase that comes when refineries change the gasoline blend during the summer driving season, said Kevin Book, managing director of Clearview Energy Partners LLC. The Energy Department calculates the seasonal increase at an average of 32 cents per gallon, Book said.

So with an average U.S. price now at roughly $3.50 per gallon of regular, according to AAA, that could mean gasoline over $4 per gallon during the summer.

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Saudi Arabia made the biggest cut, cutting 500,000 barrels. That’s on top of the cut in October that infuriated the Biden administration, after they went begging to the Saudis hat-in-hand, despite previously calling the Saudis a “pariah nation.”

So we can see how much that’s going to hurt us in the pocketbook, particularly because Joe Biden has attacked our energy independence and has made us more vulnerable to such actions regarding oil. He’s also reduced our reserve supplies to help the Democrats’ political agenda in the midterm. Now if there’s a big problem, we’re also in a potential bind there and if he wanted to replace it, it’s more expensive now.

Remember when he tried to claim credit for bringing the prices down? That was after driving them up astronomically. Are they going to take responsibility for prices going back up again?

But it gets worse than that. It’s not just that Saudi Arabia is cutting production and that’s going to hurt us. It’s that the Saudis and others are moving more toward China and entering troublesome alliances, for example looking to join BRICS, which would bring them closer to China and Russia. They just joined another Chinese bloc.

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Some are predicting it could tank our dollar in the process. That would make the inflation that we think has been crushing us now potentially move in the direction of “Venezuela-level” bad.

Even France is jumping on board this wagon, making an LNG deal in yuan.

So what has been Joe Biden’s response to all this? He’s completely deluded. Come on, man! Why don’t you listen to my 4 decades of being wrong on everything? This is what he had to say with all this moving around him — that he’s the one building alliances, they aren’t, despite all the facts right in his face.

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The alliances forming are going completely over his head.

Meanwhile, China isn’t sleeping and is doing all it can. “Changes” are coming after 100 years, Xi told Vladimir Putin.

With Biden at the switch, we have all kinds of reasons to worry.

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