October 18, 2025

6 thoughts on “Asses&Villains: Armageddon Edition

  1. I have to admit that the first time I came across the Asses&Villains thread some time back, I wasn’t at all sure of what I was reading.

    Now, it makes all the sense in the world, to wit:

    “Let me start off with two words: made in America.”

    – American autocrat Joseph Robinette Biden, Junior, who nobody ***** with, speaking at an event at the Volvo Group Powertrain facility in Hagerstown, Md. on 7 October 2022.

  2. WHAT WE ARE HEARING OVER HERE:

    Bloomberg

    “Biden Team Seethes Over OPEC+ Cut That Darkens Election Outlook”

    By Jordan Fabian and Jennifer A Dlouhy

    Updated on October 7, 2022

    Bewildered Biden administration officials hunkered down Thursday in the wake of a shock oil production cut by Saudi Arabia and its OPEC+ allies, hoping that crude prices don’t spike ahead of November elections and end Democratic control of Congress.

    US officials had sought to stave off the move, without success.

    Little more than three months after President Joe Biden traveled to Saudi Arabia to urge higher oil output for a global economy on the skids, the kingdom and the cartel it dominates said it would slash production by 2 million barrels per day.

    WHAT OPEC AND THE SAUDIS ARE SAYING, OVER THERE:

    CNBC

    “OPEC+ to cut oil production by 2 million barrels per day to shore up prices, defying U.S. pressure”

    By Sam Meredith

    October 5, 2022

    A group of some of the world’s most powerful oil producers on Wednesday agreed to impose deep output cuts, seeking to spur a recovery in crude prices despite calls from the U.S. to pump more to help the global economy.

    OPEC and non-OPEC allies, a group often referred to as OPEC+, decided at their first face-to-face gathering in Vienna since 2020 to reduce production by 2 million barrels per day from November.

    Oil prices have fallen to roughly $80 a barrel from more than $120 in early June amid growing fears about the prospect of a global economic recession.

    The production cut for November is an attempt to reverse this slide, despite repeated pressure from U.S. President Joe Biden’s administration for the group to pump more to lower fuel prices ahead of midterm elections next month.

    Speaking at a news conference, OPEC Secretary-General Haitham Al Ghais defended the group’s decision to impose a deep output cut, saying OPEC+ was seeking to provide “security [and] stability to the energy markets.”

    Asked by CNBC’s Hadley Gamble whether the alliance was doing so at a price, Al Ghais replied: “Everything has a price.”

    “Energy security has a price as well.”

    **********************************

    The Washington Post

    “OPEC, allies move to slash oil production, eliciting blistering White House response”

    By Jeff Stein, Rachel Lerman and John Hudson

    Updated October 5, 2022 at 11:30 a.m. EDT

    A coalition of oil-producing nations led by Russia and Saudi Arabia announced Wednesday it will slash oil production by 2 million barrels per day, in a rebuke to President Biden that could push up gas prices worldwide, worsen the risk of a global recession and bolster Russia in its war in Ukraine.

    The move by the Organization of the Petroleum Exporting Countries and its partners prompted a blistering reaction from White House officials and reverberated almost immediately through domestic and global financial markets, threatening higher energy costs for the United States and European countries already grappling with inflation and economic instability.

    The cut to production also amplifies geopolitical tensions at a precarious moment for the world’s major powers.

    The OPEC Plus coalition said it was making the move “in light of the uncertainty that surrounds the global economic and oil market outlooks, and the need to enhance the long-term guidance for the oil market, and in line with the successful approach of being proactive, and preemptive, which has been consistently adopted” by the group.

    **********************************

    Reuters

    “OPEC+ oil output cut shows widening rift between Biden and Saudi royals”

    By Dmitry Zhdannikov, Steve Holland and Jarrett Renshaw

    October 7, 2022

    WASHINGTON/LONDON, Oct 7(Reuters) – The OPEC+ organization’s decision this week to cut oil production despite stiff U.S. opposition has further strained already tense relations between President Joe Biden’s White House and Saudi Arabia’s royal family, once one of Washington’s staunchest Middle East allies, according to interviews with about a dozen government officials and experts in Washington and the Gulf.

    Biden hopes to keep U.S. gasoline prices from spiking again ahead of midterm elections in which his Democratic party is struggling to maintain control of the U.S. Congress.

    US officials “tried to position it as ‘us versus Russia,'” said one source briefed on the discussions, telling Saudi officials they needed to make a choice.

    That argument failed, the source said, adding that the Saudis said that if the United States wanted more oil on the markets, it should start producing more of its own.

    “We are concerned first and foremost with the interests of the Kingdom of Saudi Arabia and then the interests of the countries that trusted us and are members of OPEC and the OPEC + alliance,” Energy Minister Prince Abdulaziz told Saudi TV Wednesday.

    OPEC weighs its interests with “those of the world because we have an interest in supporting the growth of the global economy and providing energy supplies in the best way,” he said.

    Washington’s handling of the Iran nuclear deal and withdrawal of support for a Saudi-led coalition’s offensive military operations in Yemen have upset Saudi officials, as have actions against Russia after the February 2022 invasion of Ukraine.

  3. Reuters

    “Biden approval holds near lowest level of his presidency – Reuters/Ipsos”

    By Jason Lange

    October 11, 2022

    WASHINGTON, Oct 11 (Reuters) – U.S. President Joe Biden’s approval rating stayed close to the lowest level of his presidency this week, a dark sign for his Democratic Party’s prospects in the Nov. 8 midterm elections, a Reuters/Ipsos opinion poll completed on Tuesday found.

    The two-day national poll found that 40% of Americans approve of Biden’s job performance, unchanged from a week earlier.

    The president’s sagging popularity, which drifted as low as 36% in May and June, has weighed on his party’s chances in November.

    This week’s poll showed about a third of Americans – including one in five Democrats and two in five Republicans – saw the economy as the most important problem facing the country.

    Much smaller shares of respondents pointed to other issues as more pressing, with one in 10 Democrats saying the country’s biggest problem was the end of national abortion rights, while the same share of Republicans pointed to crime.

  4. Reuters

    “Ukraine’s Zelenskiy appeals for $55 bln to cover budget gap and reconstruction”

    By Andrea Shalal and David Lawder

    October 12, 2022

    Yellen said the United States would begin to disburse another $4.5 billion in grant assistance to Ukraine in coming weeks, bringing its budget assistance to $13 billion since the start of the war, and called on others to improve the “scale, predictability, and grant component of disbursements.”

  5. What a long, strange and bizarre trip this not ready for primetime, amateur hour, knee-jerking, inept and incompetent Biden regime has been, and remains:

    The Daily Caller

    “Biden Admin Begged Saudis To Delay Oil Production Cuts Until Days Before The Election: REPORT”

    Jack McEvoy

    11 October 2022

    Biden administration officials urged Saudi Arabia to delay production cuts until a few days before the midterm elections, meaning that Americans would not have felt the impact of reduced supplies before casting their ballots, The Wall Street Journal reported Tuesday.

    Before the cut was announced, the Biden administration begged Saudi Arabia, a founding member of OPEC, to delay the decision until November, the WSJ reported, citing people familiar with the negotiations.

    Saudi Arabia viewed the appeals as a cynical attempt to avoid fallout prior to the November elections and refused to do so, according to the WSJ.

    The Arab kingdom instead pressured its OPEC allies to vote to slash production following the Biden administration’s attempts to delay the cuts.

    A National Security Council spokeswoman told the WSJ that the administration’s efforts were not politically motivated.

    Administration officials did not trust Saudi predictions about a fall in oil prices and wanted the nation to wait another month before cutting production to analyze the global market’s reaction, according to the spokeswoman.

    “It’s categorically false to connect this to U.S. elections,” the spokeswoman said.

    “It’s about the impact of this shortsighted decision to the global economy.”

    With the national average gas price hitting $3.92 on Tuesday, the White House is scrambling to respond as it is concerned that price hikes at the pump could hurt the Democrats’ chances in the midterm elections, according to The Washington Post.

    The Biden administration will release 10 million oil barrels from the U.S. Strategic Petroleum Reserve (SPR) throughout November to bring down gas prices and is mulling further releases from the emergency stockpile following OPEC’s cuts.

    Biden vowed to make Saudi Arabia a “pariah” during his campaign yet visited the nation in July to ask them to pump more oil.

    *************************************

    CNBC

    “Biden threatens ‘consequences’ for Saudi Arabia after OPEC cut, but his options are limited”

    By Natasha Turak

    October 12, 2022

    President Joe Biden is angry at Saudi Arabia for its decision to slash oil production along with its OPEC allies against U.S. wishes, and he’s made no secret of it.

    With the global economy on a knife-edge and energy prices high, Washington sees the kingdom’s move – which it made in coordination with Russia and other oil-producing states – as a snub and a blatant display of siding with Moscow.

    For this, Biden said in an interview with CNN on Tuesday that there would be “consequences.”

    He did not go into further detail as to what those consequences might be.

    The decision by OPEC+ – which constitutes OPEC and its non-OPEC allies like Russia – to cut its output “underscores the extent to which the Biden administration has lost its ability to influence Saudi OPEC+ policy,” said Torbjorn Soltvedt, principal MENA analyst at risk intelligence firm Verisk Maplecroft.

    “The White House has few good options despite Biden’s warning of ‘consequences’ after the cut,” he said, noting U.S. lawmakers’ threats of antitrust legislation and removal of U.S. military assets from Saudi Arabia.

    While both courses of action would send a clear message, they could backfire for both the U.S. and for crude prices.

    “Both of these options would threaten to break already fraught relations, which in turn would put even greater upward pressure on oil and fuel prices,” Soltvedt said.

    “In short, a breakdown in U.S.-Saudi relations would mean a higher Middle East risk premium for the global oil market and higher oil and fuel prices,” he said.

    “This is the opposite of what the White House is trying to achieve ahead of midterm elections in November.”

    *************************************

    Rigzone

    “Crude Futures Dropped Wednesday”

    by Bloomberg | Ilena Peng and Julia Fanzeres

    Wednesday, October 12, 2022

    US Deputy Treasury Secretary Wally Adeyemo said countries already are trying to secure contracts to buy Russian oil before European Union sanctions take effect on Dec. 5, Reuters reported.

    “One big aspect of the bull case for oil prices is a meaningful loss of Russian supplies, especially as we stare down that Dec. 5th deadline,” said John Kilduff, founding partner at Again Capital.

    “That’s what’s getting everybody kind of spooked.”

    *************************************

    Rigzone

    “Oil Gets Boost from Bullish EIA Data”

    by Bloomberg | Ilena Peng

    Thursday, October 13, 2022

    Meanwhile, some Biden administration officials are growing concerned that a plan to cap the price of oil purchased from Russia may backfire, particularly after recent OPEC+ supply cuts.

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