{"id":60298,"date":"2021-11-05T12:45:48","date_gmt":"2021-11-05T17:45:48","guid":{"rendered":"https:\/\/olduvai.ca\/?p=60298"},"modified":"2021-11-05T12:45:48","modified_gmt":"2021-11-05T17:45:48","slug":"saudis-respond-to-biden-your-energy-crisis-isnt-our-problem","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=60298","title":{"rendered":"Saudis Respond To Biden: Your Energy Crisis Isn&#8217;t Our Problem"},"content":{"rendered":"<header class=\"ArticleFull_header__11o5_\">\n<h3 class=\"ArticleFull_title__2cUI6\"><a href=\"https:\/\/www.zerohedge.com\/energy\/saudis-respond-biden-your-energy-crisis-isnt-our-problem\">Saudis Respond To Biden: Your Energy Crisis Isn&#8217;t Our Problem<\/a><\/h3>\n<\/header>\n<div class=\"NodeContent_mainContent__38L44\">\n<div class=\"NodeContent_body__2clki NodeBody_container__1M6aJ\">\n<p>US gas prices at the pump (national average) are at $3.421, having soared since President Biden was elected &#8211; much like they did when President Obama was elected &#8211; to some of the highest prices in history&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/bfmE9EB_0.jpg?itok=hS83R4Ls\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/bfmE9EB_0.jpg?itok=hS83R4Ls\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/bfmE9EB_0.jpg?itok=hS83R4Ls\" alt=\"\" width=\"500\" height=\"286\" data-entity-type=\"file\" data-entity-uuid=\"dc74edbc-9583-4f77-92ff-9e937b14a67e\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p>President Biden refuses to take any blame for this. Instead of realizing the climate-crisis-focused policies are impacting the fossil fuel supply chain before the replacements are ready to fill the void, he has blamed COVID and OPEC+ &#8211; driving America to be more dependent on foreign oil rather than increase production domestically.<\/p>\n<div class=\"Advert_desktop__1J5vD Advert_tablet__3QEBr Advert_mobile__1rlLc Advert_placement__1I4yb Advert_align__N0_fw\">\n<aside id=\"in-content-video\" class=\"Advert_verticallySpaced__wnPy3\" data-google-query-id=\"CLif17LggfQCFc3yswodf5YD7A\">\n<div class=\"ac-widget-placeholder ac-reset\" data-loaded-pid=\"zerohedgecom\" data-loaded-wid=\"0011r00002RYAhn_1419\">\n<div id=\"ac-lre-player-ph-ext-DK0CsCOnQ0FVYjPUhE9Azz2UIlQiSM4L\" class=\"ac-lre-player-ph-ext ac-lre-ph-playlist-hide-scroll-bar ac-lre-carousel-horizontal ac-lre-carousel-legacy\">\n<div id=\"ac-lre-player-ph-DK0CsCOnQ0FVYjPUhE9Azz2UIlQiSM4L\" class=\"ac-lre-player-ph ac-lre-desktop\">\n<div class=\"ac-lre-wrapper luminous-theme is-floated-outer-title\">\n<div class=\"ac-lre-playlist-horizontal\">\n<div id=\"ac-lre-ph-playlist-horizontal\" class=\"ac-lre-playlist-text\">\n<div class=\"ac-lre-playlist-rail\">\n<div class=\"ac-lre-playlist-slide ac-lre-current-playing\" data-index=\"0\" data-mediaid=\"ifmei4ligzgtcvlrjjhxctkuk44xs2th\" data-is-click=\"true\" data-title=\"Wall Street Bounces, After Selloff Fed Boosts Liquidity\">OPEC+ made it clear this week what exactly they think of President Biden&#8217;s proclamations by not budging from their oil-production plan and Bloomberg reports that Saudi Energy Minister Prince Abdulaziz bin Salman told reporters:<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/aside>\n<\/div>\n<blockquote><p><em><strong>\u201cOil is not the problem&#8230; The problem is the energy complex is going through havoc and hell.\u201d<\/strong><\/em><\/p><\/blockquote>\n<p>Of course, always wanting to signal their virtue and follow the narrative &#8211; and amid the farce that is COP26 &#8211; Democrats have decided that this is the right time to offer a bill that stops banks from financing fossil fuel plans.<\/p>\n<blockquote><p><a href=\"https:\/\/www.markey.senate.gov\/download\/fossil-fuel-finance-act-text\">Senators\u00a0Edward Markey\u00a0and\u00a0Jeff Merkley\u00a0introduced the bill\u00a0<\/a>which would would\u00a0<strong>require the Federal Reserve to mandate that major banks stop the financing<\/strong>\u00a0of projects that emit greenhouse gas emissions.<\/p>\n<p>The legislation would\u00a0<strong>prohibit financing of new or expanded fossil fuel projects by 2022<\/strong>\u00a0and prohibit the financing of all fossil fuel projects by 2030. It would also\u00a0<strong>prohibit thermal coal financing by 2025<\/strong>.<\/p><\/blockquote>\n<p>Which, of course, will lead to less development, lower supply, and higher and higher prices&#8230;<\/p>\n<div class=\"twitter-tweet twitter-tweet-rendered\"><iframe id=\"twitter-widget-0\" class=\"\" title=\"Twitter Tweet\" src=\"https:\/\/platform.twitter.com\/embed\/Tweet.html?dnt=false&amp;embedId=twitter-widget-0&amp;features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2hvcml6b25fdHdlZXRfZW1iZWRfOTU1NSI6eyJidWNrZXQiOiJodGUiLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3NwYWNlX2NhcmQiOnsiYnVja2V0Ijoib2ZmIiwidmVyc2lvbiI6bnVsbH19&amp;frame=false&amp;hideCard=false&amp;hideThread=false&amp;id=1456629597265616903&amp;lang=en&amp;origin=https%3A%2F%2Fwww.zerohedge.com%2Fenergy%2Fsaudis-respond-biden-your-energy-crisis-isnt-our-problem&amp;sessionId=b45dc31bf108daa7b41fb9f1d725c4b968c8445f&amp;siteScreenName=zerohedge&amp;theme=light&amp;widgetsVersion=f001879%3A1634581029404&amp;width=550px\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-tweet-id=\"1456629597265616903\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Saudis Respond To Biden: Your Energy Crisis Isn&#8217;t Our Problem US gas prices at the pump (national average) are at $3.421, having soared since President Biden was elected &#8211; much like they did when President Obama was elected &#8211; to some of the highest prices in history&#8230; President Biden refuses to take any blame for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3,5],"tags":[265,592,595,596,25704,701,827,4318],"class_list":["post-60298","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","category-geopolitics","tag-energy-crisis","tag-oil-price","tag-oil-production","tag-oil-supply","tag-opec-2","tag-saudi-arabia","tag-united-states","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=60298"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60298\/revisions"}],"predecessor-version":[{"id":60299,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60298\/revisions\/60299"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=60298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=60298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=60298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}