We need more capex spending, more pipelines built and more drilling, in order to transition properly to clean energy. The Fed can't change a supply problem (with hydrocarbons) no matter how it acts. It turns into much higher labor costs, energy costs, food.
The US is begging SA to pump more while trying to remove the Iranian National Guard as terrorists, as well as the Houthi rebels.
US is reducing restrictions on Venezuela (a 'known terrorist and funder of terrorism') at the same time as killing the Keystone Pipeline which would carry crude from the US's ally, partner and neighbor Canada to US refineries that can refine heavy crude.
US politicians (Biden included, markedly) are vilifying Big Oil, threatening them (saying they would turn them off).
Adding windfall taxes and things to energy is just saying we want prices a lot higher, Bass said, instead of getting behind them, as the highest energy producer in the world (way ahead of the second, Russia).
In 7 years, the first nuclear energy will open in Wyoming.
He thinks it's the golden age for private capitol investing in hydrocarbons for the next 10 or 15 years. Demand is inelastic and growing, and there's no alternative energy that could get there in time. There aren't enough minerals to put into the wind turbines and things.
Members of the Saudi royal family have been selling yachts, homes etc for a few years
Apparently, MBS has cut money usually given to royals. He wants the money to fund ambitious projects. Some say that if the royals have lavish lifestyles, MBS will view them as rivals, and so are opting to hold cash.
XI is reportedly going to make his first overseas visit in 2 years to SA. Recently Biden asked SA to increase oil production and they said no.
US is energy independent (biggest oil producer) and China is the biggest energy consumer (currently buys 1/4 of SA's oil exports). SA is the biggest crude oil exporter.
US published documents on Yemen or something and linked SA royal house to Kashogi killing. China has it's think in Xinjiang.
SA and US have an old relationship. China has leverage over Iran, something US may never have.
How much weapons will China provide for SA?
Reportedly China is talking about using Yuan instead of USD to buy oil. SA made a deal with Nixon to trade oil only for USD in return for security guarantees.
Saudi Arabia is going to have a news platform with a studio in DC.
It will have journalists who were formerly part of AJ, Fox, NBC, and Sirius XM. It is expected before the end of the year.
It's part of a new lobbying effort aimed at the White House and Congress.
This is according to the DOJ: SA's foreign lobbying disclosures.
The news org will be owned by Taqnia ETS, a SA-based subsidiary of SA's $400b PIF (Public Investment Fund). Taqnia is supervised by the Saudi Ministry of Info.