Joe Biden pulled off perhaps the greatest oil trade of all time and in the process broke OPEC's grip and basically no one knows about it. We did a long segment on it last night and it's fascinating and worth your time.
What a tremendous market shifting impact! Oh, wait. 2.18 TRILLION yearly is the market use for oil? So this... whole song and dance... Covers less than a single percent of a single percent?
As usual, Americans care more about gas prices than human rights
"We [are] going to in fact make them pay the price, and make them in fact the pariah that they are,” said candidate Biden. “There’s very little social redeeming value… in the present government in Saudi Arabia.”
Correct me if I'm wrong, but the only reason we can do this is because of how much we've increased domestic production; making us a de facto competitor to OPEC. The Green Economy™ brought to you by Big Oil.
Have you guys ever considered publishing transcripts of your episodes?
I just hate consuming news through video, lol. It takes forever. I can skim an article so, so much more quickly than it takes to watch a segment like this.
I feel like this follows a model the Fed staked out in '08 and '20, and it's exciting to see it more. It feels like in part a recognition that markets aren't just something that happen to you (if you're the United States government)
What role did Energy Secretary Jennifer Granholm play in this? I really like seeing the US using its bully power in the market, and I really like clipping KSA’s nasty wings. Have we seen results in KSA / OPEC behavior?
I get that Biden’s a pos, I agree that he’s terrible and he’s funding a genocide and I do NOT want to vote for him but this is good, pretty unequivocally. We’ve been asking to start getting off the oil for decades. What do you think that looks like?
Just can’t bring yourself to see somethin positive
Big if true. Saudi Arabia remains the swing producer and Biden is definitely trying hard to keep them happy, and pumping oil, during the pre election period.
That was a great segment, I was happy to learn that information. Hopefully, that dynamic will become entrenched. Gas is still over 4.50 a gallon in SW WA & a 1k rebate isn't getting me an EV.