Everything’s just going SWELL, ain’t it? It’s not POTATUS’ fault you simple peasants can’t see it.

Top @JoeBiden economic advisor Jared Bernstein says Americans who don't feel the economy is improving "need to look around the corner," and "see a president that is working day in and day out!" WATCHpic.twitter.com/HkNG8hBy3w

— Simon Ateba (@simonateba) August 31, 2023

And now, thanks to the adults being back in charge, and with the incredible charm our personal presidential vegetable has managed to display on a world stage as he makes friends and influences events, well…

Oil Soars To New 2023 High After Saudis, Russia Surprise With Extended, Expanded Production Cut https://t.co/I325kNEUNX

— zerohedge (@zerohedge) September 5, 2023

…we’re gonna get screwed again

…The countries’ moves likely will increase the cost for motorists at gasoline pumps and put new pressure on Saudi Arabia’s relationship with the United States. President Joe Biden last year warned the kingdom there would be unspecified “consequences” for partnering with Russia on cuts as Moscow wages war on Ukraine.

Saudi Arabia’s announcement, carried by the state-run Saudi Press Agency, said the country still would monitor the market and could take further action if necessary.

Buckle up and plan your trips around town carefully. No doubt we’ll shortly be at the “every drop is painful” stage before too long.

Saudi Arabia and Russia on Tuesday said they would extend voluntary oil cuts to the end of the year, despite a rally in the oil market and analyst expectations of tight supply in the fourth quarter.

Oil prices rose sharply following the news, with Brent rising above $90 a barrel for the first time since November, despite steady increases in Iranian and Venezuelan oil exports as the market believes the United States is not enforcing sanctions as stringently as in previous years.

“The Saudis previewed such an outcome last month with their longer, deeper statement but today’s move still managed to catch many market participants by surprise. Once again proves that Prince Abdulaziz remains firmly in whatever-it-takes mode,” said RBC Capital Markets analyst Helima Croft, referring to Saudi Energy Minister Prince Abdulaziz bin Salman.

That friendly fist bump went so great, didn’t it? All downhill from there.

DOWNHILL Hmm. Reminds me of the Strategic Petroleum Reserve, which has been Biden’s personal “get away from pissed voters coming after me with pitchforks free” card since he took office. But that candy cavern is about empty, Jack.

Look at the graph line for our STRATEGIC reserve – ALL DOWNHILL.

There have been nothing, NOTHING, but steady and massive drawdowns since Biden ascended the throne except a whopping 3M bbls added this month at, what? $88 bbl? WHEE!! Only 300M more to go.

He is close to draining almost half of the reserve off in a little over 2 years’ time. Also, you have to consider these recently released figures are only through June. God knows what’s gone out the door during July and August.

The Biden administration has been strangling domesticate oil production, not only by surreptitiously or outright blocking new permits for drilling or exploration. The uncertainty of their openly hostile to fossil fuels energy posture has the industry sitting back on its heels. Oil companies are not investing in new rigs, equipment, or spending on exploring for finds they may not be able to access, even if they had permits They’re doing stock buybacks and paying dividends, or sitting fat on the cash, watching from the sidelines. They can well afford to, thanks to the anti-oil president.

The active rig count has basically taken the same tumble as the SPR.

Even with improved drilling and extraction techniques, the decreased number of rigs has the potential to be disastrous going forward, as the ones in operation now are also starting to experience reduced output.

What’s POTATUS to do?

The Biden Regime now has to destroy the domestic economy in an election year to reduce oil demand pic.twitter.com/1Aq26MFnWs

— 🏴‍☠️ (@calvinfroedge) September 5, 2023

If only tinfoil hats were the answer, but we are unfortunately now living in the simulation.

Is it a tragedy or a comedy?

1) Collapse the global economy
2) Print trillions of dollars
3) Raise interest rates
4) Piss off state oil producers
5) Watch your domestic oil industry roll over and die
6) Repeat the 1970s https://t.co/VzIbuCW81P

— 🏴‍☠️ (@calvinfroedge) September 5, 2023

And the Biden regime’s “hostile to fossil” posture?

How is that going to help the price of gas, when it’s shortly going to be one of the biggest inflation drivers and he has nothing left in the SPR to trade?

Not that there seems to be anyone in the administration…

…concerned with the particulars.