Saudis Raise the Price of Oil

By Jerry PDX
Sunday, December 19, 2021 at 9:54:00 A.M. EST

https://www.rigzone.com/news/wire/saudis_raise_oil_prices_for_asia_and_usa-06-dec-2021-167219-article/

Amongst all the hollering about oil prices the media tends to ignore what the world’s largest oil supplier is doing. But when the Saudis (and OPEC) raise or lower prices or pump more or less oil, it affects the price of everything. Along with the Fed keeping interests rates low and handing out free money, high oil prices are the primary drivers of inflation.

N.S.: I recall, years ago, the new york times’ three-time Pulitzer Prize winner, Thomas Friedman, complaining that the price of gas was much too low. Friedman wanted extortionary gas taxes, like in Europe. For Friedman, foreign lands—India, too, with its caste system, public defecation, and mass poverty—were always superior to America. Mind you, this was before the ruling class had turned America into a failed state.