Topic: Petroleum Institute

Justin Logan of the Cato Institute criticizes the U.S. maritime strategy in the Red Sea, noting that the "Operation Prosperity Guardian" coalition is spending millions to intercept cheap Houthi drones. The hosts argue that the rerouting of ships around the Cape of Good Hope primarily affects European trade and suggest the U.S. might benefit from the disruption by selling more liquid petroleum gas.

Claims have surfaced that the U.S. is secretly cooperating with Iran to keep oil flowing into the global market despite public hostilities. While the Biden administration publicly opposes fossil fuels, domestic oil production has reached record highs. Analysts suggest the ongoing conflicts in the Middle East and the Red Sea are primarily about the control and pricing of global oil supplies.

Abdurahim El-Kib has been named the new Prime Minister of Libya. Despite being presented as an academic, his background includes a chairmanship at the Petroleum Institute in Abu Dhabi, which is sponsored by major international oil companies like BP and Total.