OPEC+ consists of OPEC members and non-member countries with interests similar to OPEC. Russia is a non-member member. These nations represent 40 percent of global petroleum supplies. The organization is led by Saudi Arabia.
A primary goal is to maintain oil production levels to keep world prices at the highest possible. Yesterday, the group voted to cut production by 2 million barrels per day. One result will be a rise in gas prices in the U.S. World wide also, of course. Prices will rise uncomfortably.
I believe the rise was put in place for reasons other than merely making more money. To impose pressure on the U.S. and European nations re the Ukraine problem. The Saudis obviously siding with Russia in this regard.
Biden tried to play “nice.” He went to Saudi Arabia this summer and “kissed the ring” in an attempt to assure oil prices would remain low. To assure what OPEC+ just did it would not do. Diplomacy did not work.
Time for the U.S. to change its game plan. Time for the U.S. to play hardball with Saudi Arabia. How, I do not know. Beyond my pay grade. However, we have those with the knowledge in Washington that do know. Get the wheels moving. Do what is necessary. Inflict some pain and discomfort. Not just on the Saudis. On other members of OPEC+ as well.
Saudi Arabia cannot be permitted to increase cost to its purchasers and commit other atrocities as they have in the past without paying a penalty.
Lets face it. The Saudis are not really our friends. Never have been. The U.S. got along because it needed them. We actually do not need them. We produce sufficient oil these days. The problem is the world needs OPEC+ oil. We have to help. Means getting the Saudis and OPEC to play ball. The U.S. can do it. We must impose pain on Saudi Arabia and OPEC+ till it hurts them bad. And then a bit more.
Sticking with the cost of gas, take a look at Monroe County.
The average cost for one gallon of gasoline in Florida is $3.25. Except in Monroe County. The average cost the past month $4.27 a gallon.
A popular Key West historical figure is Karl Tanzler aka Count von Cosel. He was arrested this day in 1940.
His love was Elaine Hoyo Mesa. She died. He first had her buried in the cemetery. A while later, he dug her up and removed her to his home. He kept her in his bed for several years before discovery. Such led to his arrest.
Halloween is around the corner. The MARC Pumpkin Patch is open at 1401 Seminary Street. Hours from 9 am – 7 pm through October 31. Take the kids and buy a pumpkin or two!
Solitary boat travel seems the thing. Key West’s Guy DeBoer our person! His a 7-9 month trip around the world. Unfortunately, Guy only made it to the Canary Islands where his sail boat Spirit ended up on the rocks. Effectively ending Guy’s journey.
Damian Browne another solitary ocean traveler. His trip not as long as Guy’s. Damian decided to travel from New York City to Galway, Ireland. His vessel a rowboat.
He did it!
The trip 112 days. Nautical miles 2,686. Average speed 1 knot or 1.4 miles per hour.
He described the trip comparable to “being in a washing machine.” His rowboat tipped a few times. Damien in the water and his boat upside down. He had to somehow turn the boat and climb back in.
P.S. He can’t swim.
Mortgage rates continue to creep up.
U.S. 30 year average up 6.7 percent. Highest since 2006. Mortgage applications down 37 percent last week compared to a year ago.
This day in 1927 a major one in the entertainment industry and for the American public. The Jazz Singer staring Al Jolson premiered in New York City. First talking movie!
The Jazz Singer revolutionized the motion picture industry. It was the end of silent films.
Enjoy your day!