Biden Plays the Fool and Pawn to Russia’s Oil King

Transcript at http://peternavarro.substack.com 

Biden has traded in Trump's Strategic Energy Dominance

Green New World is American energy subservience

Russia now calling oil price shots

Look for $90 per barrel oil or more

More inflation, slower GDP growth

In relentless pursuit of an American strategic energy dominance, Donald Trump made the United States a net oil exporter while his peace through strength doctrine contained Vladimir Putin’s revanchist ambitions. Pursuing a Green New World, Joe Biden has rapidly achieved strategic energy subservience while transforming Putin from a contained wolf to an unchained jackal now wielding enormous power over world energy markets.

Today, with Trump’s strategic energy dominance in their rear-view mirror, it is a Saudi-Russia duo now calling the oil price shots.  With Russia the world’s third largest petroleum producer behind only the Saudis and US, Saudi Arabia and Russia are the tails now wagging the OPEC cartel dog.

You would not have found a single Western analyst who would have foreseen this outcome when Russia invaded Ukraine.   The United States, together with Europe, and other allies like India and Japan would quickly crush the Russian economy by refusing to buy their oil and gas. Of course, this conventional thinking quickly gave way to realpolitik.

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