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Joe Biden went to the Saudis to get more oil.
Who knows what was really said behind closed doors, but whatever good grace Joe Biden gained, he lost by talking smack as soon as he left the building.
What did that get him?
No more oil from OPEC.
Sorry, Joe
OPEC has agreed to increase its daily oil production by a paltry 100,000 barrels per day.
In terms of global demand, that is gone by the time your egg is fried in the morning.
Reuters called the small increase “an insult” to Biden, but I am not really sure what they expected here.
Biden’s biggest problem is that he thinks he is a tough guy when everyone else sees him as a doting old fool.
So, when OPEC nations had a chance to stick it to him, they did exactly that.
This is a crushing blow to Biden’s hopes of having someone else absorb the production fall-off here in the United States.
As long as Biden keeps his foot on the throat of oil companies, they will not invest, which means less refinement and production capabilities domestically.
