Nothing has been invented to displace fossil fuels for running machinery and for providing fertilizers. The West is committing mass suicide by shutting them down and dismantling not just the industrial base but the agricultural base and the financial system, as well. Quite simply, the World Economic Forum’s Net Zero policies are purposefully engineering the rise of China and the collapse of the West.
Energy consultant and former President of Mitsubishi Power Systems, Dave Walsh joins Steve Bannon, who says the [treasonous and deranged] US State Department appeared to be caught flat-footed by the China-brokered peace agreement between Saudi Arabia and Iran, which is predicated upon massive 40-year oil and gas output deals using the Petroyuan – not the Petrodollar.
Walsh explains how the Carbon Neutral policies promoted by the West mean that the Middle East oil producers no longer view the US as a longterm customer, so they’re turning to China, which is not onboard with any of this Net Zero nonsense, unless it means selling more solar panels and lithium ion batteries, two markets overwhelmingly dominated by the Chinese – and which consume an enormous amount of fossil fuels to manufacture. China remains focused on continuing to build their industrial and military might and economy, which relies on 9.5 million barrels per day of imported oil.
Walsh says the Iran-Saudi Pact is an endorsement of the Western Governments’ pronouncements that there will be a continuous migration away from fossil fuels and the Middle Eastern producers “Need to find a bigger, better, more-fungible financial market to sell them and that’s China. It’s very simple. They’re believing the rhetoric of the Biden administration; the Secretary of the Treasury, the head of Commerce, the head of Interior, the EPA, that we are getting off of fossil fuels. The Kingdom of Saudi Arabia now believes that. Therefore, you go to your next, larger and more rapidly-growing market and you forge an alliance, including dealing in their currency. It’s very real and it’s tremendously material to us.
“Because the reality of divorcing from fossil fuels means the reduction in our industrial competitiveness, significantly and our ability to wage war, very directly. They’re believing our rhetoric and the rhetoric of Boris Johnson and the elites in Western Europe, which is the same; that we’re going to get off of fossil fuels, therefore, the Kingdom of Saudi Arabia goes to China…
“The entire strength of President Trump’s team visiting with the House of Saud several years ago when we were a 14-15 million barrel a day producer…at the table, we then have power, in negotiating the continuance of dollarized transactions.
“Without dollarized transactions and without also espousing being a major consumer of those fuels to feed the industrial growth of the country, the GDP growth of the country, when the House of Saud lacks confidence in both; that we’re not a competitor and then B, that we’re not a player in terms of being a buyer, in that we’ve lost interest in growing our economy, with this dependence on ESG and non-carbon fuels.
“They ignore us and the impact becomes the lack of ability to control prices and more exposure to it, which has happened, with natural gas, in part, as it’s become an exported commodity, vis à vis the development and invention of liquefaction and LNG exports. It’s become a global gas market. Gas is a very volatilely-priced commodity, because it is heavily-traded internationally.
“We can control that, somewhat if the transactions are in dollars. If they become in Yuan, the oscillation of cost levels, here becomes huge – and we’re talking about home heating, we’re talking about electricity supply, now 38% of our electricity supply and plus the industrial use of gases. A huge, huge impact on the economy, of destabilizing; what will result in uncontrollable inflation when these things occur.”