Warning that the world is running out of fossil fuels, 62-year-old Saudi Oil Minister Prince Abdulaziz bin Salman that the world is “running out of energy capacity at all levels,” music to he ears of climate change activists like Rep. Alexeandria Ocasio-Cortez (D-N.Y) who’d been pushing for alternative energy sources. Abdulaziz’s sober message threatens the world economy because with the Ukraine War raging, the Western world entered into a virtual boycott of Russian oil. What could be more destructive to the world economy than boycotting Russian oil when Saudi Arabia admits that energy capacity is dwindling. Russia’s war in Ukraine demonstrated the extreme fragility of world energy supplies, lower now because Western nation’s boycott on Russian oil. President Joe Biden, 79, asked Saudi Arabia to ramp up energy production due to the U.S. and EU boycott of Russian oil.
Saudi’s 36-year-old de facto leader Crown Prince Mohammed bin Salman wouldn’t return Biden’s calls about ramping up oil production in the absence of Russian petroleum. Biden has alienated Bin Salman over his alleged involvement in a plot to murder Washington Post columnist Jamal Khashoggi Oct. 2, 2018. Biden’s White House have said they won’t do business with Bin Salman, despite the fact he’s the de facto leader of Saudi Arabia. Since taking office, Biden alienated Russian President Vladimir Putin and Chinese Presidient Xi Jinping. Since the Feb. 24 Ukraine War, Biden has threatened China with economic sanctions if Beijing does anything to support the Russian Federation. China, India and Saudi Arabia, abstained from a U.N. vote to condemn the Russian Federation over Ukraine. Biden’s White House likes to threaten U.S. allies and adversaries for not backing the Ukraine War.
Biden has morphed the Ukraine War into a dangerous proxy war against the Russian Federation. Biden let his feelings come out March 26 in Warsaw, Poland when he said Putin could no longer continue as Russian President. While the world gasped, Biden doubled down on his war against the Russian Federation. One month later, April 26, U.S. Defense Secretary Lloyd Austin said in Ramstein, Germany that the aim of the U.S. military in Ukraine is to degrade the Russian army to the point it could no longer wage war against their neighbors. Austin admitted that the U.S. is, in fact, at war with the Russian Federation. When it comes to boycotting Russia oil, the U.S. has created worldwide energy shortages, driving prices into the stratosphere. Biden hoped the Saudis would bail him out after he insulted Crown Prince Mohammed bin Salman saying he would only deal with his 86-year-old father, Salman bin Abulaziz Al Saud.
Saudi oil minister Prince Abdulaziz warned that the world need to accept the fact that it’s running out of oil. “The world needs to wake up to an existing reality. The world is running out of energy capacity at all levels,” serving notice to the U.S. that all oil suppliers are needed to accommodate worldwide demand. Biden’s energy policy gutted the U.S. energy independence, canceling the Keystone XL pipeline that safely brought tar sands oil from Canada to the Gulf of Mexico. Biden’s economic sanctions against Putin have shaken the world’s fragile energy supply system, causing shortages and skyrocketing prices. No one in the White House’s Green New Deal admits that U.S. enterprise can’t run on alternative energy without needing abundant supplies of fossil fuels. Boycotting Russian oil sent the world into energy shortages, destabilizing world financial markets.
Biden’s commitment to fighting an ongoing proxy war against the Russian Federation in Ukraine has destabilized world energy markets. Whatever beef Ukraine has with Russia, Biden has turned it into a worldwide oil crisis. “We’ve been warning about the lack of investment,” said Suhail al Mazrouei, United Arab Emirates [UAE] oil minister. “That lack of investment is catching up with a lot of countries,” said Al Mazrouei, not raising the U.S. and EU boycott on Russian oil. Whatever happens with the Ukraine War, the world should not be held hostage for energy by the Biden administration. No matter how much they want to win the war against Russian President Vladimir Putin, it’s the height of selfishness to drag the world down with an outright boycott of Russian oil. Biden needs to figure out other ways to punish Moscow than to create worldwide oil shortages.
Biden needs to stop destabilizing world oil markets while he prosecutes his proxy war against the Russian Federation. Creating worldwide oil shortages, skyrocketing prices and destabilizing world financial markets should not be part of the Biden policy. Whether admitted to or not, the world needs Russian oil. Biden’s decision to boycott Russian oil and force all Western governments to do the same has sent the global economy into a tailspin. If Biden wants to prosecute a proxy war against the Russian Federation, he needs to leave the world energy supplies intact. Demanding Saudi Arabia produce more energy or forcing the world to stop buying Russian oil cannot be more selfish. Biden and his client state, Ukraine, should go to Istanbul and do what’s necessary to end the wasteful and destructive Ukraine War. Keeping the war going damages the world economy.
