Saudi Arabia and Russia have agreed to extend their voluntary oil production cuts through the end of 2023 — a move that’s already driving prices up. Carolyn Kissane, associate dean at New York University’s Center for Global Affairs, joins CBS News to discuss how higher oil prices could also impact interest rates in the U.S.

    #news #oil #saudiarabia

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    38 Comments

    1. The oil cuts hurting Americans are Biden's.
      Jan 20, 2021
      Biden's 1st day in the office.

      *Biden cancels the Keystone pipeline.
      *Imposes a moratorium on all oil and gas leases on federal lands & waters.

      Feb 26
      *he updates the "social cost" of green house gas emotions, a tool used to calculate real world costs of climate change, to pacify climate activists.

      June 1st
      * Biden eliminates tax benefits for oil, gas and coal producers in favor of electric vehicles and other low carbon energy alternatives.

      March 21, 2022
      * Biden directs the Security & Exchange Commission (SEC) to impose landmark climate rules that are affecting our economy in the following ways:
      – restrictions or impeding energy projects
      – raising the cost of vehicles
      – stifling energy innovation
      – increase in cost of household goods
      – impeding American exports
      – higher taxes
      – expected energy shortages due to no backup systems
      * Biden's poorly executed pullout plan from Afghanistan led to Russia invading Ukraine.
      * Biden's open border policy has led to higher national debt rates and higher deaths due to illegal drug smuggling.
      * Democrats soft on crime policies have led to historical high crime rates especially in Democrat run cities.
      *Our GDP has continued to drop putting the country in a recession while Democrat leadership is trying to change the definition of words.
      The list goes on and on.

    2. Amazing video and thank you for breaking it down!! Despite the economic downturn, I'm so happy have been earning $56,000 returns from my $8,000 investment every 14days with the help of Brisa Richardson.

    3. We can all thanks Mr Biden for this. He threatened MBS into making him a pariah and he started a proxy war which interrupted global trading due to excessive ineffective economic sanctions. πŸ›’οΈβ›½

    4. Biden should put pressure on Saudi Arabia to sell us more.
      Higher inflation could do more damage to our Democracy because people believe that it is the Democratic party's fault.

    5. In an April 2020, Trump told Saudi Crown Prince Mohammed bin Salman that unless the Organization of the Petroleum Exporting Countries (OPEC) started cutting oil production, he would be powerless to stop lawmakers from passing legislation to withdraw U.S. troops from the kingdom.

    6. Crazy that a barrel of oil has been more than $100 a barrel… yet gas is more expensive now even though its still under 100 a barrel. πŸ€” eventually people will see the lie and revolt

    7. The US thinks we stuck it to Russia with Sanctions but it seems Russia is doing pretty good and America is failing. Thinking Russia is better than this country.

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