Re: Oil-Different Dynamics Under Biden.

I see the potential for much higher oil prices under this Admin. Thoughts follow...

Biden has clearly signaled a pivot back to Iran concomitant with abandonment of Saudi Arabia: 1) halting arms sales, 2) halting support of against Shia-backed Houthis in Yemen, 3) recalling the Nimitz from the ME.

Although I’m fond of saying that the cure to high prices is high prices, between the steep backwardation in oil and Biden’s various green ener…