OPEC+ has replaced the International Energy Agency as its secondary source for member production data with Rystad Energy and Wood Mackenzie. The news, broken by Reuters, which quoted an unnamed source from OPEC+, was the latest in a string of signals that OPEC — which makes up the bigger part of OPEC+ — is done playing to a foreign tune.
“ what we have here is a trust issue. If you can’t trust your traditional allies whom you see as abandoning you in your hour of need, why would you do what they ask you to do in their hour of need?”. What a great observation. All human relationships are only as good as the level of trust between the parties involved.
Biden has undermined the trust of the energy industry in his own country by undermining their efforts, casting insults their way, and begging everyone on earth to increase production except for them (until recently, after the damage was done).
Well balanced and informative piece. Trust is a very valuable and scarce currency to be frittered away. Treating allies as dispensable is arrogance at the worst and stupidity at the least.
Great article - this is huge
great article
“ what we have here is a trust issue. If you can’t trust your traditional allies whom you see as abandoning you in your hour of need, why would you do what they ask you to do in their hour of need?”. What a great observation. All human relationships are only as good as the level of trust between the parties involved.
Biden has undermined the trust of the energy industry in his own country by undermining their efforts, casting insults their way, and begging everyone on earth to increase production except for them (until recently, after the damage was done).
IEA has become a government mouthpiece, don't believe anything they put out.
Well balanced and informative piece. Trust is a very valuable and scarce currency to be frittered away. Treating allies as dispensable is arrogance at the worst and stupidity at the least.