Biden Energy Adviser Hochstein: MBS Immunity Decision Strictly Legal — ‘There Is No Quid Pro Quo’

Energy Security senior advisor Amos Hochstein said Tuesday on CNBC’s “Squawk Box” that President Joe Biden’s move to grant Saudi Arabia Crown Prince Mohammed bin Salman legal immunity for his role in Washington Post columnist Jamal Khashoggi’s murder was not a “quid pro quo” for lower oil prices.

Co-host Joe Kernen said, “As far as palace intrigue, and I know you know this stuff, and I know you can’t tell us, but when the Biden administration told the federal court judge that MBS, Mohammed bin Salman has sovereign immunity, that was nice and conciliatory. And there had been some acrimony between the United States and the Saudis. It just seems interesting that they would even, after cutting, that they would broach the possibility of cooperating right before Russia, right before the cap goes maybe goes on Russian oil. It is like, they’re helping us out right after — and I would say that is the right move for them because the China situation and the lockdowns. It made sense for the Saudis to cut production. So is there any quid pro quo behind that — that we’re being nicer to them, and they might cooperate?”

Amos Hochstein said,”There is no quid pro quo. I think the decision on the immunity was a strict legal decision by the lawyers about him becoming a prime minister and the determination that was made by the lawyers. That was not done by policymakers, but really just a legal one. As far as their decision to cut, you know, you and I may disagree on that. I think a 2 million cut announcement at the time was — we did not believe it was warranted. I think that prices were at about 88 or 87 when they announced that it went up to almost $100 and settled back down. Mostly because, you know, when you announce a cut at 2 million, what we all know is that 2 million is not going to be cut, and most countries are not in a position to cut production and definitely not cut exports.”

He added, “I’m not going to get into the palace intrigue there, as you called it, but rather focus on bringing the prices down and do what we have to do here at home.”

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