The Biden administration admitted it had asked Saudi Arabia to delay production cuts, but denied it for political reasons. Instead of begging Saudi Arabia to maintain or increase oil production at a high level, the Biden administration could simply authorize an expansion of domestic production. Not because it is controlled by environmentalists who advocate scarcity. Thus, Biden has caused the worst of all worlds: the coming oil shortage, the deindustrialization of Europe, and a stronger alliance between Saudi Arabia and Russia. Civilization depends on cheap energy, and we are right to expect that our political leaders put its supply above electoral politics.
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