BRICS is a collection of countries that launched in 2010 to dominate the global economy. BRICS stands for Brazil, Russia, India, China and South Africa.
Just recently, a BRICS summit was held in Johannesburg to discuss the next mission and that is oil and the expansion of alternative currencies.
Getty Images Image caption, Vladimir Putin addressed the summit via a video link
Russian President Putin attending by video link since he is under arrest by the International Criminal Court for war crimes yet that has not stopped the emerging threat BRICS is about to impose on the global stage…control of at least 30% of the world’s oil industry.
Putin in his remarks states that Western powers with their ‘neo-liberalism’ pose a threat to traditional values in developing countries.
Several additional countries were extended an invitation to join BRICS and they include Saudi Arabita, Argentina, Egypt, Ethiopia, Iran and the United Arab Emirates. If these countries accept the invitation to join, collectively 30% of the world’s GDP would be under BRICS. China pushed the hardest for the expansion of the bloc as a way to counter Western dominance.
White House National Security Advisor Jake Sullivan attempted to play down the bloc’s expansion plans.
He said that due to Brics countries’ divergence of views on critical issues, he did not see it as “evolving into some kind of geo-political rival to the United States or anyone else”.
BBC posted in part by Sarang Shidore, director of the Global South programme at the Quincy Institute in Washington:
‘US can’t set all norms’
Nevertheless, the Brics expansion does represent a shift.
“No longer is it a world where the US can set all the norms, or drive all the institutions. There’s no question about that. But a replacement? No, I would say much more of a complementarity than a replacement that is on the horizon,” Mr Shidore added.
So for a group that says they all value and respect each other’s opinions, maybe no-one won or lost. It really was just a diplomatic gathering with some give and take.
President Biden does not take issue with any of this since he continues with his war on domestic oil production. He just blocked and restricted oil and gas development in the Gulf and millions of acres of land giving eco groups all they want.
Does this look like the United States has energy stability now or in the future?
New composition of BRICS will control 80% of world oil production With the addition of Saudi Arabia, the United Arab Emirates and Iran to the BRICS, the Union will be able to control the lion’s share of the world’s oil production. The same goes for the sharp GDP growth of the new BRICS countries. It will amount to 30% of world GDP and exceed $30 trillion.
This is now a global oil cartel….oh add in OPEC.