Trump critic of float theory Jared Kushner called on the Saudis to cut oil production

Donald Trump’s son-in-law Jared Kushner has been linked by the former president’s critics to the Organization of the Petroleum Exporting Countries (OPEC) decision to cut oil production just a month before the mid-term elections in the United States.

Rick Wilson, co-founder of the Lincoln Project suggested in a tweet that Kushner is “calling the Interior Ministry in Riyadh.”

In the spring, The New York Times reported that Kushner spearheaded a US government-sponsored program called the Abraham Fund, which aimed to raise $3 billion for projects in the Middle East. This followed earlier reports that Kushner’s private equity firm had received a $2 billion check from Saudi Arabia — the same nation that along with Russia agreed on Wednesday to cut oil production by 2 million barrels a day in order to to raise prices.

“The entire MAGA ecosystem is now firmly aligned with the geopolitics of Saudi Arabia and Russia,” tweeted Simon Rosenberg, founder of the New Policy Institute, a liberal think tank based in Washington, DC. “Their leader is an actual business partner of the Saudis and a political partner of Putin.”

“Did Jared visit the Saudis at DJT’s urging for higher oil prices to hurt the Dems in the interim? I’m just wondering.” tweeted Robert Reich, former Secretary of Labor under President Bill Clinton.

Democratic Representatives Tom Malinowski of New Jersey, Sean Casten of Illinois and Susan Wild of Pennsylvania have even introduced legislation requiring the withdrawal of all US troops from Saudi Arabia and the United Arab Emirates.

Jared Kushner Saudi's OPEC Oil
Jared Kushner speaks on stage at the 2022 Concordia Annual Summit on September 20 in New York City. Kushner’s connection with Saudi Arabia comes under scrutiny after OPEC’s decision to cut oil production, which in turn negatively impacts the Biden administration.
John Lamparski/Getty Images for the Concordia Summit

Trump, whose Bedminster golf club hosted the Saudi Arabia-funded LIV Golf Invitational Series, has not yet commented on the OPEC decision. That may well be intentional.

“Given that the Saudi decision follows Biden’s high-profile visit earlier this year, Trump would be wise to stay out of the way,” said Austin Carson, associate professor of political science at the University of Chicago news week.

President Joe Biden’s administration immediately called the roughly 2 percent drop in global oil supply “short-sighted” and blamed it on the war between Russia and Ukraine.

Aside from the US Department of Energy bringing another 10 million barrels from the Strategic Oil Reserve to market next month, the administration plans to consult Congress on methods “to reduce OPEC’s control over energy prices.”

The OPEC decision will raise domestic gas prices — particularly in California and the Pacific Northwest — and “contribute to the inflation we’re seeing,” said University of Notre Dame finance professor Jeffrey Bergstrand news week.

“Also the likelihood of a prolonged recession is that the Federal Reserve has committed to bringing inflation, including energy prices, down to an annual rate of 2 percent,” Bergstrand said. “Anything that raises costs for consumers and producers makes any recession that unfolds over the next year even worse.”

news week Kushner asked for comment.

https://www.newsweek.com/donald-trump-critics-theory-jared-kushner-urged-saudi-arabia-cut-oil-production-1749682 Trump critic of float theory Jared Kushner called on the Saudis to cut oil production

Rick Schindler

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