Wouldn’t it be nice to tighten the screws on Iran and Russia? Iran has been
funding Hamas, which barbarically attacked innocent Israeli civilians and children.
Meanwhile, Russia continues to try to bomb Ukraine into surrendering its
sovereign territory.
Money is a tool and, quite often, a weapon for evil dictators to wage war on
freedom-loving people. America has a unique opportunity to ground the
treasuries of these evil empires into dust—since oil prices dropped to $73 per
barrel.
Global demand for oil has dropped because of widespread economic weakness.
So, in spite of the Biden war on fossil fuels, America is energy independent for a
short period of time. Saudi oil output has recently dropped 18%, while the Energy
Information Agency reports that U.S. output is up 1.7%.
Our total output is almost 50% higher than Saudi Arabia’s output, so in the near-
term, America can have a huge effect on prices. If the Biden administration would
approve and streamline numerous drilling permits in the queue, the markets
would likely respond quickly to additional supply and prices would drop.
Consumers would get a much-needed break at the gas station in the face of
terrible inflation, and the spigot of money flowing into Iran and Russia would
severely shrink. The ayatollahs in Iran would be forced to tend to their own
backward economy and stop funding the terrorists of Hamas, Hezbollah and the
Houthis in the Middle East. Putin in Russia would no longer be able to fund his
invasion of Ukraine and recall a battered army home.
Good economics often provides strength for good national security and a safer
world for America and our freedom-loving allies.
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