Biden was counting on Arab nations to produce more oil but a few hours ago French President Macron was overheard telling Biden that the United Arab Emirates is at max capacity & the Saudis can’t produce much more. It appears to be a direct appeal to Biden to produce more oil.
“I had a call with MBZ,” Macron said. (MBZ is the leader of the United Arab Emirates, Sheikh Mohammed bin Zayed al-Nahyan.) “He told me two things. I’m at a maximum [production capacity] and [the] Saudis can increase by 150 [thousands barrels per day].”
This is a game-changing revelation since Biden was counting on Saudi Arabia & UAE. They were the only two OPEC nations perceived to have spare capacity.

Macron’s revelation means that it’s up to the U.S. to produce more oil, and soon, or the energy crisis will get much worse.
Biden’s refusal to expand oil and gas production in the US in the midst of the worst energy crisis in 50 years was insane *before* Macron’s revelation.

Now, if Biden doesn’t act, he is effectively renouncing America’s standing as the leader of the free world.
It’s not clear that Biden appreciated the gravity of what Macron was saying. Before Macron could finish, Biden started to walk away, and interrupted him, as though he were in a hurry to get to the gabfest, even though Macron’s intel should change everything.
It is extremely interesting that Macron chose to deliver the information in the way he did, which was within earshot of journalists. It’s almost as though Macron wanted the international news media to report on Macron’s intel, perhaps as a way to pressure Biden to finally act.
Macron is a canny politician. If he had wanted the information to remain secret, he likely wouldn’t have shared it within listening distance of the sensitive microphones of journalists. We should be grateful to @EmmanuelMacron for his supposed carelessness.
It's true that the U.S. can't just turn a switch to produce more oil and gas, but we could start producing more within 12 - 18 months, and the longer we postpone production, the longer the crisis will last.

michaelshellenberger.substack.com/p/why-bidens-a…
And we need to expand refinery production, too, which is something Biden has also killed.

michaelshellenberger.substack.com/p/why-biden-is…
Final note: for energy and everything else, honesty is still the best policy.

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More from @ShellenbergerMD

Jun 28
Biden & G-7 leaders want a price cap on Russian oil, but most credible experts agree it can't work. There is no alternative to producing more oil & gas. Denial of this reality by Biden & the G-7 hastens the collapse of the neoliberal Malthusian order.

michaelshellenberger.substack.com/p/biden-and-g-…
Led by U.S. President Joe Biden, the Group of Seven (G-7) economic powers today announced plans to ban the transport of Russian oil sold above a certain price with the goal of hurting Russia enough so that it ends its war against Ukraine.
"There is only one way out: for Putin to accept that his plans in Ukraine will not succeed," said German Chancellor Olaf Scholz. The G-7’s plan is to impose a price cap on Russian oil through the regulation of petroleum shipping, banking, and insurance.
Read 20 tweets
Jun 27
Biden’s demanding Arab nations produce more oil at the same moment he is considering a total ban on new offshore oil & gas drilling, 6 days after delaying new on-shore O&G drilling, and 1 month after killing a 1M acre O&G lease sale in Alaska. It’s as insane as it looks.
In fact, it’s more insane than it looks. The reason is because OPEC is reaching the limits of what it can produce, the US will wind down releases from the Strategic Petroleum Reserve in October, and oil demand is poised to grow by a minimum of 1.5 billion barrels a day next year.
It’s true that higher oil prices will stimulate a supply response globally, but Arab nations are reaching their total production limits, sanctions on Russian oil remove a significant amount of oil from global markets, and now Biden is restricting supply growth in the U.S.
Read 9 tweets
Jun 26
Europe is on the verge of rationing energy and yet Biden & European leaders have just proposed $600B in global infrastructure spending focused on renewables, w/ ZERO to increase oil/gas production

Western leaders now pose a greater threat to collective security than Putin or Xi
Energy experts have been warning of energy rationing for weeks. IEA warned of rationing 3 weeks ago. Germany moved closer to rationing nat gas last week after Russia curtailed supplies. And today, the heads of France's 3 biggest energy companies called for voluntary rationing.
While China is investing in oil & gas to lift nations out of poverty, Biden & G-7 are investing in renewables, which will keep poor nations poor.

Biden is hyping solar in Angola, which is being starved of investment in its oil & gas infrastructure

reuters.com/world/refile-u…
Read 8 tweets
Jun 26
Germany is in a severe natural gas crisis that is threatening the security of Europe, driving inflation, and threatening global recession, and yet energy is not among the top 4 priorities Biden says he will discuss with the German government. The West is without leadership.
The behavior of the German government is literally insane. It refuses to turn back on the 3 nuclear reactors it turned off in December. It intends to shut down its last 3 reactors this December. And it has decided to burn more coal. Because crazytown.

apnews.com/article/russia…
Biden does not control Germany. It is its own nation, and we must respect its sovereignty.

But we Americans provide Germany with military protection and its behavior has put the whole of Europe, and the global economy, in jeopardy.

Why, exactly, isn’t energy on the agenda?
Read 11 tweets
Jun 25
who could ever have seen that coming
“The moves have been widely interpreted as a relatively young executive using the specter of a future presidential bid to shine a bright spotlight on himself. And they’ve been enough to elicit early brushbacks from allies of Biden and Harris.”

politico.com/news/2022/06/2…
Read 4 tweets
Jun 23
Biden is blocking expanded domestic oil production and expanding corn ethanol production in the name of preventing ag-disrupting climate change, but the result will be 24% higher emissions, per unit of fuel, and global famine caused by corn shortages

france24.com/en/live-news/2…
The main cause of global corn shortages is the Russian invasion of Ukraine, but Biden’s demand that refineries increase the use of corn ethanol will contribute to worldwide corn shortages

abcnews.go.com/US/wireStory/e…
We have known since 2008 that corn ethanol produces more carbon emissions than gasoline, and a new 2022 study by the National Academy of Sciences confirms that corn ethanol produces 24% more CO2 emissions than gasoline

axios.com/local/des-moin…
Read 6 tweets

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