by Audrey Streb
The Lion
In a move analysts say could reshape the global energy order, The United Arab Emirates left the Organization of the Petroleum Exporting Countries (OPEC) and the broader OPEC+ alliance on Friday.
The UAE departed OPEC as President Donald Trump is pushing for American energy dominance. The U.S. is one of the world’s leading oil producers and exporters.
As one of the top OPEC producers, the UAE’s departure will weaken the group’s power over global oil prices and may accelerate a shift to market-driven output, several analysts told The Lion…
Senior Fellow at the Energy and Environment Legal Institute Steve Milloy told The Lion that “Trump has stumbled upon the key to getting a grip on the global economy and our enemies – and this control of the world’s lifeblood, oil and gas.”
Milloy says Trump “destroyed OPEC, which has tortured the U.S. for more than 50 years with its dominance over the global price of oil. From his policy of U.S. energy dominance to his seizure of Venezuela’s oil industry to his blockading of Iran, OPEC is done as the determinative force of the global price of oil and gas.”
