A Secret Insight

For John, BLUF:  The Biden Administration has been dooing almost everything in its power to weaken US Oil Production.  Why?  Nothing to see here; just move along.

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Did Biden Seal a 'Clandestine' Saudi Oil Deal to Manipulate Prices Ahead of the Midterms?

From PJ Media, by Reporter Ryan Ledendecker, 5 December 2022, 10:30 AM.

Here is the lede plus two:

Back in July, a seemingly desperate President Joe Biden traveled to Saudi Arabia on a high-stakes trip where he met the Saudi Royal family, including the controversial Crown Prince Mohammed bin Salman.

The president took a lot of heat for the trip for several reasons, including his scheduled meetup with the crown prince, who had previously signed off on the murder of WaPo journalist Jamal Khashoggi.  Biden was also criticized for appearing to use the trip to request help from a foreign nation on the oil production front, though the White House denied that was the case.

However, in a bombshell revelation this week, Rep. James Comer (R-Ky.), who will soon lead the powerful House Oversight and Reform Committee, announced that his committee will investigate what he believes to be a “secret deal” with Saudi Arabia regarding increasing OPEC+ oil production to manipulate the U.S. energy market ahead of the 2022 midterms.

I find it fairly cynical to think that the Biden Administration would manipulate world oil markets for the purpose of winning Congressional races in a mid-term election  That would have been a very cynical move, one disrespectful of petroleum woorkers across the nation.

Calling for increased oil production around the world, in the face of perceived climate change makes no swnse, unless there are other humanitarian factors in plan.

I think the Biden Administration has stumbled onto a problem in the mid- to long-term.  I don't knoow what it is, but I would look at the coming winter and Europe's shortage of energy, given the War in Ukraine and the various embargoes ongoing around the world.  What if President Biden is trying to increase oil production around the world, with the US as the hidden backup, when all else fails?  That makes much more sense.

Hat tip to the InstaPundit.

Regards  —  Cliff

Food Prices Going Up

For John, BLUF:  Therre are goingn to be global food shorrtaages.&nbswp; Sme will starve.  Others will pay higher prices.  Nothing to see here; just move along.

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Record Food Prices Could Leap 22% More on Ukraine War, UN Warns

From Yahoo News, via Bloomberg, by Reporter Megan Durisin, 11 March 2022, 8:50 AM·2

Here is the lede plus two:

(Bloomberg) -- Record-high global food costs could surge another 22% as Russia’s assault on Ukraine stifles trade and slashes future harvests, the United Nations warned.

A report from the agency’s Food and Agriculture Organization on Friday shows the far-reaching fallout of the war on the world’s food system, with the impact set to stretch well beyond the next season.  Ukraine and Russia together account for more than a tenth of all calories traded globally, and those flows have been stifled since the conflict erupted late last month. Soaring production costs means other countries will only partly be able to compensate for the “sudden and steep reduction” in Black Sea grain and sunflower exports in the coming 2022-23 season, FAO said.  That will likely push international food and feed prices 22% higher and a “considerable” supply gap will linger going forward if the war persists and energy stays expensive.

HMaybe there is planning by the Federal and State Governments in the back room, but I suspect they have yet to tumble to the problem.

Buying staples now might be a good idea.

Hat tip to the InstaPundit.

Regards  —  Cliff