Posted by Tobby > 2022-06-11 19:32 | Report Abuse

Problem with Biden is that, during his first days in office, he made enemies with OPEC members!
Even threaten to dethrone the Sauds of Saudi! Tell me, how can the Sauds wanna talk to Biden after humiliating them!

Posted by Tobby > 2022-06-11 19:33 | Report Abuse

Contrast to Trump! He knows how to keep oil cheap! It was during Trump administration, the world was flooded with oil! So flooded until oil price turn negatie! Can you believe that! Negative!

Posted by Tobby > 2022-06-11 19:34 | Report Abuse

It's a simple supply and demand! Demand for oil is high at the moment! But 2 years from now, probably not so high! Why! Because majority of new car buyers will go for EVs!

Posted by Tobby > 2022-06-11 19:35 | Report Abuse

Even BYD is shock with the demand for their EVs! 2022 production already sold out! 2023 probably the same! No need to talk about Tesla! Cybertruck has waiting list until 2027!

Posted by Tobby > 2022-06-11 19:37 | Report Abuse

In 2 years time, if BYD and other China manufacturers can ramp up production, they can supply enough for their domestic and foreign markets!

Posted by Tobby > 2022-06-11 19:37 | Report Abuse

By end of 2 years, we have situation where there's just too much oil and dwindling demands!

Posted by Tobby > 2022-06-11 19:39 | Report Abuse

Coming back to OPEC! All Biden has to do is to kissup to the Sauds, go back to original gentlemen agreement and pump oil like no tomorrow! OPEC has more than enough supply to satisfy global needs!
In fact if OPEC start to ramp up, oil price will easily fall to USD40 within a month period!

Posted by Tobby > 2022-06-11 19:40 | Report Abuse

Basically, the root solution is there! The Sauds are waiting for Biden and Democrats to bow-down! Question is, will Biden do it!

Posted by Sslee > 2022-06-11 19:45 | Report Abuse

The White House defended the Biden administration’s "strategic" partnership with Saudi Arabia, saying President Biden wants to "get peace" with the country — after vowing to make it a "pariah" state.

Biden, during a Democratic presidential primary debate in 2019, promised to make the kingdom a global "pariah" due to its mistreatment of human beings, violations of international law and open hostility to the U.S. — including the killing of a Washington Post journalist.

So why should Saudi listen to Biden?