And while we are on the subject of Biden administration SNAFUs, Joe announced Wednesday that he is “reevaluating the U.S. – Saudi Arabia relationship” in the wake of the OPEC+ announcement of plans to cut up to two million barrels a day of oil production. We almost fell off our bean bag chairs when we read this explanation from White House spokesman John Kirby fumed:
“This move [of cutting oil and gas supplies] benefited Russia at a time when nobody in any capacity should be trying to benefit Vladimir Putin.”
Oh Really! Our CTUP study finds that if Biden had kept Trump policies in place, we would be producing two to three million more barrels a day.