This week OPEC+ at its 33rd OPEC and non-OPEC Ministerial Meeting held in Vienna agreed to decrease crude oil production by 2,000,000 barrels a day which will have obvious implications — bad implications — for the rising price of oil, increasing inflation, and the global economy.

Taking 2,000,000 bbl/day out of the pipeline will:

 1. Dramatically increase oil prices to the $125 – 150/bbl range.

 2. Add another jolt to inflation worldwide, but in particular in the United States.

 3. Enrich Putler’s war machine. Continue reading →