{"id":504929,"date":"2022-10-30T04:57:00","date_gmt":"2022-10-30T01:57:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ceos-fixing-bidens-saudi-oil-mess-because-he-wont\/"},"modified":"2022-10-30T04:57:00","modified_gmt":"2022-10-30T01:57:00","slug":"ceos-fixing-bidens-saudi-oil-mess-because-he-wont","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ceos-fixing-bidens-saudi-oil-mess-because-he-wont\/","title":{"rendered":"#CEOs fixing Biden&#8217;s Saudi oil mess because he won&#8217;t"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a379f7d118d5\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a379f7d118d5\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ceos-fixing-bidens-saudi-oil-mess-because-he-wont\/#%E2%80%9CCEOs_fixing_Bidens_Saudi_oil_mess_because_he_wont%E2%80%9D\" >&#8220;CEOs fixing Biden&#8217;s Saudi oil mess because he won&#8217;t&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/ceos-fixing-bidens-saudi-oil-mess-because-he-wont\/#Uneven_record\" >Uneven record<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/ceos-fixing-bidens-saudi-oil-mess-because-he-wont\/#%E2%80%98No_choice_on_supply\" >\u2018No choice\u2019 on supply<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CCEOs_fixing_Bidens_Saudi_oil_mess_because_he_wont%E2%80%9D\"><\/span>&#8220;CEOs fixing Biden&#8217;s Saudi oil mess because he won&#8217;t&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<div class=\"inline-module inline-module--columnist inline-module--author\">\n<div class=\"inline-module--author__img\">\n            <img decoding=\"async\" width=\"76\" height=\"69\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png?w=76&amp;h=69&amp;crop=1\" class=\"attachment-nyp_columnist size-nyp_columnist\" alt=\"Charles Gasparino\" loading=\"lazy\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png?w=152 152w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png?w=114 114w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png?w=76 76w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png?w=38 38w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png 706w\" sizes=\"auto, (max-width: 76px) 100vw, 76px\"\/>      <\/div>\n<\/div>\n<\/aside>\n<p>Some of Wall Street\u2019s top CEOs spent the last week on a diplomatic mission to \u00adSaudi Arabia. It wasn\u2019t touted as diplomacy, of course. The financiers who attended the Future Investment Initiative in \u00adSaudi Arabia, known as \u201cDavos in the Desert,\u201d are a well-<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">script<\/a>ed bunch who prefer to keep their dealings private whenever possible.<\/p>\n<p>Tough luck. Word leaked to me that what went down was vastly more important than seminars on climate change or whatever else the globalist crowd likes to virtue-signal about.<\/p>\n<p>Rather, I am told by people with knowledge of the matter that the real reason so many top CEOs attended the conference was to forge a truce between the Saudis and the Biden administration. The ongoing and very public bellicosity between the two longtime allies is bad for business, both the CEOs\u2019 and that of the US.<\/p>\n<p>True, Saudi Arabia is a big Wall Street client looking to further modernize its economy through investment-banking deals, while it turns to our financial sector to manage its riches. But the growing consensus among the people who run the US financial system is that having the Saudis as an enemy is among the biggest geo\u00adpolitical and economic mistakes of the mistake-prone Biden administration.<\/p>\n<p>It will embolden the aims of our common enemy, the terrorist regime in Iran, and drive the Kingdom further into the hands of our rivals, Russia and especially China. (Reps from China flooded the conference this year, I am told, and not because they like the desert heat). Plus the bickering will do nothing to satisfy our \u00adenergy needs and save Sleepy Joe Biden\u2019s presidency.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"691\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/MBS-GASPO.jpg?w=1024\" alt=\"Biden reportedly thought he and the Saudis had made a deal over the summer. \" class=\"wp-image-24456977\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/MBS-GASPO.jpg?quality=75&amp;strip=all&amp;w=2048 2048w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/MBS-GASPO.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/MBS-GASPO.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/MBS-GASPO.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Biden was reportedly blindsided when the Saudis and OPEC announced cuts to oil. <\/figcaption><figcaption><span class=\"credit\">Anadolu Agency via Getty Images<\/span><\/figcaption><\/figure>\n<p>For the unacquainted, what goes down in Riyadh every year for \u00adalmost a decade is very similar to the more established World Economic Forum confab in Davos, Switzerland. Running the show in Riyadh is a more controversial host than milquetoast globalist WEF chief Klaus Schwab.<\/p>\n<p>It\u2019s the crown prince, Mohammed bin Salman \u2014 known by haters and admirers alike as MBS. When MBS (now just 37) became the Kingdom\u2019s de facto ruler a few years ago, he was in charge of a country with enormous oil wealth and vast economic potential.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<h2><span class=\"ez-toc-section\" id=\"Uneven_record\"><\/span>Uneven record<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>He was also in charge of maintaining the somewhat uncomfortable relationship with us because of his country\u2019s often lousy record on human rights. There were hopes the youthful new leader would enact reforms, soften the Kingdom\u2019s anti-Democratic impulse and modernize its economy away from its reliance on crude.<\/p>\n<p>Let\u2019s just say it hasn\u2019t gone down exactly that way. The crown prince instituted some much-needed changes, such as expanding women\u2019s rights. The Kingdom\u2019s giant oil company, Saudi Aramco, is venturing beyond fuel into areas such as tech. The Saudis have continued to support Israel\u2019s existence, albeit tacitly, and remain an enemy of Iran.<\/p>\n<p>MBS also put a slew of people he deemed potential rivals under house arrest im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely after taking control. Then presidential candidate Biden campaigned in 2020 to make Saudi Arabia a \u201cpariah\u201d nation because the Kingdom hasn\u2019t shed its autocratic leanings, and because MBS is widely blamed for the assassination of a journalist critical of his regime, Jamal Khashoggi.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"684\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/MBS-Gaspo-gas.jpg?w=1024\" alt=\"Oil prices have risen in price over the past few months. \" class=\"wp-image-24456979\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/MBS-Gaspo-gas.jpg?quality=75&amp;strip=all&amp;w=2048 2048w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/MBS-Gaspo-gas.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/MBS-Gaspo-gas.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/MBS-Gaspo-gas.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Many have criticized Biden\u2019s lack of action to get the US more energy independent. <\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>More recently, tensions have gone from bad to worse after our feeble leader sought to cut domestic oil production, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">travel<\/a>ed to the Middle East and begged the crown prince to increase supply. Biden thought he had a deal until MBS and OPEC announced cuts, prompting the administration to threaten sanctions and maybe more.<\/p>\n<p>OK, I know what you\u2019re saying: This MBS is a bad dude. Wall Street likes him only for his money, his control of Saudi Aramco and the massive state pension fund. Both are growing gushers of investment-banking and money-management fees for the likes of Goldman Sachs, JPMorgan, BlackRock etc. \u2014 the very same type of people who are telling the White House to back off.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>Point taken, but the fat cats who went to Riyadh (JP\u2019s Jamie Dimon, Goldman\u2019s David Solomon, reps for big private-equity and money-management firms) are also saying the world is filled with bad actors. The Saudis are probably the best \u2014 and most strategically important \u2014 of the bunch.<\/p>\n<p>It\u2019s a geopolitical reality that the Trump administration and prior presidents have accepted, but the progressive zealots currently in charge of Team Biden won\u2019t.<\/p>\n<p>It\u2019s also foolhardy. Biden\u2019s scorched-earth approach to MBS is hurting the American consumer and the country\u2019s national-security interests, and Wall Street executives make the point both to me and their contacts in the White House that our time would be better spent completing pipelines if we really want to lower the cost of fuel here at home.<\/p>\n<p>On top of all that, the recent spat over oil production may not be the one-sided affair the White House and Dems are claiming. In private meetings with CEOs, the Saudis contend the oil-production cut was well-telegraphed no matter what Biden may have thought after his famous fist bump with MBS in July.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%98No_choice_on_supply\"><\/span>\u2018No choice\u2019 on supply<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>OPEC\u2019s move is a function of a long-standing desire to keep \u00adprices from falling below $80-$90 a barrel. Because Biden keeps releasing oil from the Strategic Petroleum Reserve and with the world economy falling into recession, the Saudis say they had no choice but to cut supply.<\/p>\n<p>If the White House didn\u2019t know that, Sleepy Joe must have been half-asleep during those talks, the Saudis say.<\/p>\n<p>These are all points made by senior Wall Street executives to people in the Biden administration in recent days, I am told. The Wall Streeters get that MBS is no saint, but Sleepy Joe\u2019s weak hand makes the crown prince a necessary evil. Biden should take their advice and focus on some real enemies.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/10\/29\/ceos-fixing-bidens-saudi-oil-mess-because-he-wont\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;CEOs fixing Biden&#8217;s Saudi oil mess because he won&#8217;t&#8221; Some of Wall Street\u2019s top CEOs spent the last week on a diplomatic mission to \u00adSaudi Arabia. It wasn\u2019t touted as diplomacy, of course. The financiers who attended the Future Investment Initiative in \u00adSaudi Arabia, known as \u201cDavos in the Desert,\u201d are a well-scripted bunch who&#8230;<\/p>\n","protected":false},"author":1,"featured_media":504930,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/newspress-collage-24456892-1667090099336.jpg?quality=75&strip=all&1667076075&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[134762,991,72970,74489,82246,81144],"class_list":["post-504929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-10-29-22","tag-joe-biden","tag-oil","tag-oil-prices","tag-opec","tag-saudi-arabia"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/504929","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=504929"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/504929\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/504930"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=504929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=504929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=504929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}