Tue Apr 4, 2023 – 6:53 pm EDT
(LifeSiteNews) — The global oil producing cartel OPEC (Organization of the Petroleum Exporting Countries) this week announced a second surprise cut in global oil production. This move will see oil prices climb, and the cost of everything else will likely follow in its wake.
The move comes as further evidence of the dramatic loss of U.S. power experienced under the Biden administration. Aside from the sanctions on Russia, which effectively hand a global advantage to every nation outside the West, there is the embarrassing fact that under Biden the Saudis have pivoted to Russia – and China.
The neoconservatives have not secured a new era of American power – they are rapidly unraveling it. Their policies have cost America its allies and influence. It is not them, but the American people and the entire western world who will once more pay the price of their predictable failures.
This new cut amounts to a reduction of 1.7 million barrels per day (bpd). However, combined with the first shock cut in October last year, reports now show that oil production has been cut by 3.66 million bpd – or 3.7
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