US President Joe Biden is caught in a tight situation. Inflation in the US is hitting historic levels. Crude has breached $120 per barrel and is expected to go above and beyond $150 per barrel. The average gasoline rate in the United States has breached 2008 recession levels to hit $4.17 for a gallon. The mid-term elections are knocking on the door. The rising oil prices predate the Russian invasion of Ukraine, so blaming Russia is really not serving as an airtight defence. And the only people that can stop this carnage and rescue Biden are the leaders of Saudi Arabia and the United Arab Emirates. But here’s the interesting part: they don’t want to talk to him. In fact, over the last few months, they have sat back to enjoy the sight of this inflationary bloodbath.
According to a Wall Street Journal report, Saudi Crown Prince Mohammed bin Salman and the UAE Sheikh Mohammed bin Zayed al Nahyan do not want to speak to President Joe Biden and have dismissed overtures made by his administration for a phone call.
Now, it was obvious why Joe Biden reached out to MBS and MBZ. The Biden Administration desperately needed Saudi Arabia and the UAE to let loose their oil taps and “stabilise” the markets, in other words, help the US offset the bloodletting in USA’s domestic markets. After the Russian invasion of Ukraine, the US doubled down on the hope that the Arabs would also strip Russia of the current energy supply leverage it holds over the USA’s allies in the West.