On Monday, President Joe Biden was walking through the courtyard of Schloss Elmau in Krun, Germany along with G7 leaders and was seen being approached by French President Emmanuel Macron. The two had an interesting conversation about energy and Biden’s plans to visit the United Arab Emirates.
In the video National Security Advisor Jake Sullivan can be seen interrupting in front of Macron and Biden because journalists are just feet away, “Careful. Maybe we should just step inside … because of the cameras.”
However, some of their conversation could be heard. Watch the video.
“I had a call with MbZ,” Macron audibly told Biden. “He told me two things. I’m at a maximum, maximum (production capacity). This is what he claims.”
Macron is speaking about Sheikh Mohammed Bin Zayed al-Nahyhan, leader of the United Arab Emirates.
“And then he said (the) Saudis can increase by 150 (thousands barrels per day). Maybe a little bit more, but they don’t have huge capacities before six months’ time,” Macron said.
From Reuters, the UAE has released a statement by Energy Minister Suhail bin Mohammed to their country’s state news agency that confirms Macron’s statement.
“In light of recent media reports, I would like to clarify that the UAE is producing near to our maximum production capacity based on its current OPEC+ production baseline,” said Energy Minister Suhail bin Mohammed Al Mazrouei.
Biden is planning to visit the Saudi’s and the UAE to ask them to bring down oil prices, but Reuters estimates it’s only by a couple million barrels of oil a day. It’s thought they are the only two oil producers that can increase capacity to bring down oil prices world wide.
It might rain on his parade if Arabian countries cannot help alleviate the price of oil, but then again, we could always start producing here in the United States again.
The G-7 includes the countries of US, Canada, UK, France, Germany, Italy and Japan.
If Biden is unable to bring down the price of gas, it’s not going to be good. He really can’t pull any more tricks out of his sleeve at this point besides starting to produce more at home. Do you think Biden is handling the gas price crisis effectively?