America needs to be energy independent!

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Oh, oil is back in the news. You see the swings of oil going all the way back to COVID to where we are now. But Friday, Friday, you started hearing some concern that they’re not gonna, they knew what the meeting was gonna be contentious. They wanted no media inside the OPEC meetings. And you remember, I remember even back in the 1970s when they would, you know, all I get all the sheiks gathering and it would always, it was always be in Vienna. Always be in Vienna for some reason. I don’t know why.

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All the OPEC leaders getting there deciding what the price of oil was gonna be. Well, I guess it was a very contentious OPEC meeting. The Saudis are none too happy with Russia, who has continued to pump and pump and pump and flood the market with cheap Russian oil. Like we told you, okay, wasn’t gonna matter. Russians are gonna sell their oil, they’re gonna find a buyer. You’re gonna find people out there that say, sure.

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I’ll take that oil well below market prices off your hands and then China, India, South Africa, many countries have no problem doing that. Well, what happened was is that Saudi Arabia said that it’s gonna cut off a million barrels a day, a million barrels a day, and they want the other countries to cut off more. And today we saw the price of oil, I think it was up two, 3%, I don’t know where it is right now.

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In order for the Saudi government to not be in the red, or for the Saudi government to be in the red, they need to, I think oil needs to be around $82 a barrel. What do I mean by that? I mean, they’ve got all of these massive, massive infrastructure projects that they put together. And the interesting thing is, is they haven’t gotten much in terms of investment. Can’t have people looking at investing there as a risk.

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as a risk and again that the Saudis are trying to change that. They’re trying to change that. That’s why they’re willing to pay Lionel Messi $400 million a season to play soccer. They want to change the perception of the king. They want more money to come in here. I mean again they have a faucet that money comes out of and that’s fossil fuels but the money that they’re spending is a whole different world.

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I’ll get to a story a little bit later on in this bit, which was kind of fascinating about the type of money that they have. All right, so we got over a million barrels of oil. Wouldn’t it be nice? Wouldn’t it be nice if we could just say, that’s okay, we’ll just increase our production by a million barrels a day. We’ll make up for that. We could. We were on our way to that type of energy independence. We could do that, but we’re not. We’re not going to.

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Again, shooting ourselves in the foot is not a good idea. Fossil fuels are not going anywhere anytime soon. Period the end. That’s the reality of the situation. Anyway, you think about the changes we had? Again, I’m an equal opportunity basher. I can go after Donald Trump for a myriad of things, but I’ll give credit where credit is due.

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you know, pushing our oil industry in the right direction. Again, they give it to going back to, again, it was policies, regulatory policies under the Trump administration, encouraged oil companies, but you go all the way back to the early parts of the Bush administration. And if you recall back at that point, I remember Dick Cheney getting in trouble because he was meeting with all these oil executives. And at that point in time, that’s what they were talking about fracking and other means.

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of getting oil out of the ground. That was the first steps towards the United States being energy independent. Again, we went from energy independent to not so much anymore, all within one presidency. Not a good place we’re in right now. Much better to be self-reliant. Again, the Green Agenda wants no part of that. A quick story I wanted to tell you. Again, it’s fascinating. I remember I was in London.

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with my kids and we went to that famous department store, Harrods, and watching people shop, unbelievable. Again, a lot of these people from the Middle East, they have houses in London. There were cars that I saw in London that I’d never ever seen before. I mean, completely stainless steel Mercedes, what are they called? G-Wagons.

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I was watching a guy parallel park a Bugatti and left it on the street. That’s a two million dollar plus car. I mean, I’ve seen them before here in the United States, but I’ve never seen one parked on the street. Okay. Anyway, neither here nor there. But to see the type of money that they spend and they’ve got all these people, all these princes and princesses and all this stuff that they’ve got to get money to, again, it shows that the type of wealth that they have over there in that country. Anyway, watchdog on wallstreet.com.