A short one this morning, an excerpt from Robert Hubbell’s latest newsletter regarding the news that both OPEC and Russia intend to reduce oil production. We all know that means higher prices at the pump, and while this should not be the highest priority on people’s minds as we head into the November mid-term elections, it probably will be. People ought to be more concerned with the environment, the state of democracy, and human rights, but nope … they are more focused on how much it costs them to drive their gas-guzzling SUVs all over the place because, as one ‘friend’ told me, “it’s my happiness that matters most.” Grrrrrrrrrrrrrrrrrrrrrrrrrrrr
Putin’s War Tax on Americans
Saudi Arabia gave Russia a huge gift on Wednesday by coordinating a two million barrel per day reduction in oil production among OPEC oil producers. The effect of Saudi Arabia’s decision is to thwart the efforts by the Group of 7 nations to place a cap on the market price of Russian oil. Saudi Arabia’s decision will drive up oil prices, which Russia will use to fund its war against Ukraine. See NYTimes, The E.U.’s plan faces a new hurdle, as oil producers led by Saudi Arabia aim to keep global prices high.
To state the obvious, neither Saudi Arabia nor Russia is a friend of the US or western democracy. Indeed, both are dictatorial, murderous regimes that ruthlessly suppress their people and seek to destabilize global peace and security. And both are darlings of the GOP and Fox “News.” Tucker Carlson claimed on Tuesday that Joe Biden blew up Nord Stream gas pipelines—an act of sabotage that occurred as Russian submarines and warships were spotted lurking near the points of attack on the pipelines.
And, of course, the GOP’s mob boss welcomed Saudi Arabia’s blood money at his Bedminster golf course only weeks before the twenty-first remembrance of the victims of the Saudi-assisted terrorist attacks on 9/11. Trump provided a feeble excuse for “sports-washing” the Saudi involvement, saying, “Nobody’s gotten to the bottom” of responsibility for the terror attacks—a blatant lie.
The effort also seems intended to meddle in US and European politics. It is only a matter of time before Republicans begin blaming Joe Biden and Democrats for the increase in gas prices—rather than acknowledging that the increases are directly attributable to Saudi Arabia’s efforts to prop up Vladimir Putin. Don’t let Republicans peddle that lie without challenge. Saudi Arabia has just imposed a “Putin war tax” on all Americans.