A version of this essay has been published by firstpost.com at https://www.firstpost.com/opinion/from-caatsa-waiver-for-india-to-chastened-visit-to-saudi-arabia-why-biden-is-making-conciliatory-noises-10961801.html Samuel Johnson once said: “When a man knows he is to be hanged in a fortnight, it concentrates his mind wonderfully”. Going by POTUS Biden’s recent hyperactivity, it seems that the prospect of imminent electoral catastrophe has the same effect. For, the hitherto imperious Democrats have been backpedaling so furiously that it is a wonder to watch. Consider just a few events: the importunate, chastened visit to Saudi Arabia (after having trashed it for the Jamal Khashoggi murder); the CAATSA waiver for India (after blood-curdling threats by the sorely missed Daleep Singh et al regarding Ukraine); and the noises being made by several parties about bringing hostilities to an end in Ukraine.  Behind all these is the realization that pandemic management has been royally screwed up (the much-vaccinated and Pfizer-oral-vaccine-medicated Biden himself caught the Wuhan virus), and that Anthony Fauci, Peter Daszak et al surreptitiously funding gain-of-function research in Wuhan was a major mistake. To be fair, even formerly lionized New Zealand now has significant numbers of covid deaths, but that is hardly comforting to Americans.  Printing trillions of dollars as the panacea for covid was an even greater mistake, because the blowback has been raging inflation at 9.1%, hitting the average voter in the pocketbook. I personally endured the previous bout of high US inflation in the late 70s, but as a poor student it didn’t affect me much; as a family man I am sure I would have been pinched badly if I were a US resident and voter now. I remember petrol at $1-2, not $5 as it is now.  This does not bode well for the Biden Democrats in the November midterm elections. Inflation is not fun, as the Turkish voter is also finding out. Someone will take the blame. I don’t think blaming Vladimir Putin for inflation is quite working; nor is blaming Donald Trump, who, after all, was the only recent POTUS who didn’t go to war. Biden’s ratings may continue on a downward trajectory. The abortion rights issue roused some of the faithful, but I don’t think this has staying power till November.  Thus the U-turns, amusing to the impartial observer.  The energy squeeze (and related inflation) explains the Saudi visit. The European Union, in particular Germany, is in bad shape, as is evident from the Euro dropping to a historical low of parity to the dollar. Germany’s GDP shrank for the first time in, well… a long time. If there is no renewed supply of Russian gas, Europe is going to freeze this winter. So it is imperative for NATO to beg or cajole or threaten OPEC, especially the Saudis, into increasing production. There had earlier been the unedifying spectacle of Biden seeking help from Saudi Arabia, Venezuela and even Iran, all of whom his staff had demonized earlier. If I am not mistaken, the Saudis and the Venezuelans literally refused to take his phone call, which is humiliating.  There is a more subtle reason the Saudis are important to Biden: petrodollars. Who outside the US is going to want all those trillions printed by the US Fed other than to buy petroleum products? The fact is that, having been lured by the siren-song of the Chinese, the US has de-industrialized to such an extent that there's not much global demand for dollars to buy American goods, except for armaments and high technology.  If petroleum were to be traded in any other currency than the US dollar, it would depreciate, maybe even collapse. That is a scary prospect, which could trigger a serious global recession. Saudis have to be mollified and/or terrified so they don't even think of accepting other currencies in payment. Both Gaddafi and Saddam Hussein talked about accepting payment in Euros etc, and we all know what happened to