Its not just Saudis cutting oil production! Hope Anons have stocked up on crude oil :)
(media.greatawakening.win)
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We are already entering the big ugly (as Clif High puts it)
Yep, we entered the big ugly on January, 20, 2021.😔
Well, I was writing from a EU perspective.
In terms of oil, the US is rather comfy. And despite the rhetoric, the oil world production grew north of 100 million barrels a day. Decreasing production with 1% starting 2024 does what?
Note this:
I would posit: For the US long term not so much. But the EU, being without an oil production system big enough to meet real demand, and energy-insecure, will take a hit. First, EU wants a price-cap at 80 dollars. Putin, of course does not see that as advantageous. So ... what impedes a sought after price cap? Higher demand vs lower production.
It means, to safe that price cap, and save the alliance NATO to pursue the Ukraine war (note that ammo producers have certain energy needs) Biden would have to arrange for more oil going to the EU. Isn't that neat? He could do two things at the same time: starve the US economy of oil, impeding production. Think farming for instance. Second he would have to export oil to the EU.
The EU could, on the basis of an EU-ID and CBDC easily introduce a cap on consumption, forcing farmers to decrease production, and forcing the populace, under the guise price-controls into bug-eating.