Sanctions on Russia
in War in Ukraine ·
Arthur Miller7 said:If I’m not totally tripping, Algeria is gonna start pumping more gas—it’ll take a minute to get moving, but hey, it’s something. Qatar already struck a deal with Germany, and apparently, Biden pulled some strings with Venezuela too. At first, the UAE was being super stubborn about cranking up oil production, but I heard some rumors they might be softening their stance (not 100% sure on that part, though)... so honestly, it’s not like anyone was being a total jerk about this.
But then again, that's just what you hear from the MSM. Just a few days ago, the UAE placed an order for Chinese airplanes instead of American ones, so I’m honestly struggling to wrap my head around the strategy these Gulf monarchies are playing. In my view, it actually makes more sense for them to scale back production and enjoy higher prices rather than pouring money into infrastructure while watching Europeans pivot en masse toward EVs and heat pumps. You have to assume the folks in the Middle East have read the EU's "Fit for 55" plan more closely than the Europeans themselves have!🤣