European 🇪🇺

  • 105 Posts
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Joined 3 years ago
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Cake day: June 10th, 2023

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  • TL;DR: They just wanna make more money by drilling more oil.

    Tnx and yes stepping out of OPEC gives the U.A.E. leeway to produce more without adhering to any price or production cap OPEC cartel decides on. But since Iran & Russia are also OPEC, I was wondering what other motives existed.

    I found this BBC article fyi.

    • However, the timing of this move hints at consequences from the Iran war. The pressure cooker in the Gulf has impacted the UAE’s relationship with Iran and may affect its already strained relationship with Saudi Arabia. (…)
    • In this view, it makes sense to raise as much money from oil reserves as quickly as possible before demand craters. The UAE has financial firepower and a partly diversified economy, through financial services and tourism.

    TL; DR; they don’t see the benefit in OPEC and have already strained relationships with some members, they want to sell oil while there is still a demand, due to increasing green energy alrtenatives.












  • Tnx for shedding some light on these rulings. For sure, he’s been pushing the common usage of his executive powers especially this year. It’s his brand and like always every person fulfilling a certain role ( like being President) does this in his own way.

    Apart from his power to bend his executive Powers and the common practices amongst most President, there is also such a thing as the “Spirit of the Law”. So like all things in the world it can be used to do good or bad depending on how it’s used. The same goes for " the Law ", some poeple abuse it some use to do good. At least, that’s how I see it.