In another example of Joe Biden’s bizarrely conflicting policy choices regarding the Russian invasion of Ukraine, our friend Steve Moore reported in the weekend edition of his must-read Unleash Prosperity Hotline that, contrary to claims that U.S. sanctions were hurting the
Russian war machine, Russia is getting rich off the rise of the global oil price to nearly $100 a barrel.
(The Unleash Prosperity Hotline is free and you can sign-up through this link.)
The Wall Street Journal reported last week that Russia – and Saudi Arabia – are getting rich off the rise of the global oil price to nearly $100 a barrel. As Steve Moore keeps saying, the Biden war on American energy is a strategy that only Vladimir Putin and Arab oil Sheiks could love.
Now he has the evidence to confirm that.
The chart below shows that since Biden took office Putin’s oil revenues tripled by early 2022 and are now about double their levels during the Trump era of pro domestic drilling. We should be 2 million barrels a day higher.
President Ronald Reagan and his team understood that one of the Soviet Union’s greatest weaknesses was its fragile oil export-based economy, which is why Reagan enlisted the Saudis to join his economic war on the Soviets by pumping more oil and driving down the price.
Every time CIA Director William Casey’s great black unmarked C-141 Starlifter lumbered into the closed military side of Riyadh's King Khalid airport with a request that the Saudis pump more oil the Soviet economy would slip another foot toward total collapse.
Today, the Saudis won’t even return Joe Biden’s phone calls, and they are conducting naval exercises with our mortal enemies the Red Chinese.
As we have said on numerous occasions, assisting the Ukrainians in defending their homeland and defeating the Russians might get more support from conservatives and America First supporters if there was an actual statement as to what victory for the Ukrainians looked like, and a plan to achieve it.
But Biden has no agreed upon vision of what constitutes victory and certainly no plan, other than to keep feeding thousands of Ukraine’s best and brightest and billions of American tax dollars into the meatgrinder.
Stopgap spending legislation unveiled Saturday morning in the House, passed by the Senate and signed by Joe Biden does not provide any additional funding for military relief or humanitarian aid to Ukraine. However, the Senate’s Democrat Majority Leader, Chuck Schumer, said he would put a supplemental spending bill for Ukraine on the floor as soon as next week.
“This is a bridge CR and Leader McConnell and I have agreed to continue fighting for more economic and security aid for Ukraine,” Schumer said. “We support Ukraine’s efforts to defend its sovereignty against Putin’s aggression.”
If that were true, then wouldn’t Biden and Schumer start by cutting off the flow of oil dollars to Russia?
Schumer, Biden and the Democrats have no earthly idea how to defeat the Russians, or perhaps they don’t even care who wins, as long as the gravy train of corruption keeps flowing to the right people.
As Steve Moore put it so well, the best way to crush Putin’s war machine in Ukraine is by returning to a drill baby drill policy here at home. However, that would require a regime change here in America.
Russia Ukraine war
Putin oil revenue
Biden energy policies
Transnational Criminal Organization
PMC (Private Military Company)
Dmitriy Valeryevich Utkin