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Coffee House Shots

Will Saudi oil really fix Britain's energy crisis?

Coffee House Shots

The Spectator

News, Politics, Government, Daily News

4.42.1K Ratings

🗓️ 15 March 2022

⏱️ 11 minutes

🧾️ Download transcript

Summary

Boris Johnson is travelling to the Middle East tonight, where he'll be meeting Gulf leaders and trying to convince them to pump more oil. With Britain's energy price cap likely to rise to £3,000 in October, how important is it for the Prime Minister to get what he wants? And will more supply alone fix the problem?

Max Jeffery speaks to James Forsyth and Katy Balls.

Transcript

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0:00.0

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0:04.3

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0:09.1

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0:17.7

Hello and welcome to Coffee How Shots, the spectator's daily politics podcast.

0:22.1

I'm Max Jeffrey and I'm joined by Katie Bulls and James Forsyth.

0:26.6

Boris Johnson is heading to Saudi Arabia and the UAE tonight,

0:31.5

asking them to pump more oil to ease pressure on European or global supply.

0:38.0

James, we know what Boris Johnson wants. What's he going to offer them in return?

0:42.8

So I mean there are two things that the arguments that you can make for the Saudi

0:46.8

Arabians about the current situation. One is, you know, ultimately,

0:51.0

Saudi Arabia wants to revive its relationship with Washington,

0:54.8

which is clearly in the worst state it has been in some time.

0:58.4

This offers them an opportunity to do so.

1:01.2

The second argument, I think, is one of the things that the Saudi is very worried about,

1:04.9

and one of the reasons they're not inclined to help the West out in this current situation so far

1:09.5

is that they feel that too much has been offered to Iran and the nuclear talks in Vienna.

1:14.0

But I think the oil price remains very high.

1:17.1

There is going to become pressure to basically do a deal at almost any cost with the Iranians

1:21.7

in Vienna to get the sanctions off the Iranian oil, which would then reduce the price.

1:25.2

So I mean, that should be the kind of, but the two reasons for the Saudis wanting to do this

1:29.4

is one, this offers them a chance to restore their status as Washington's kind of

1:34.7

indispensable interlocutor on the oil market, on energy markets.

...

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