Maybe Elon Musk shouldn’t have so much power over Ukraine

Plus: The US-Saudi feud heats up. [Bloomberg]( Follow Us [Get the newsletter]( This is Bloomberg Opinion Today, an ownership society of Bloomberg Opinion’s opinions. [Sign up here](. Today’s Agenda - Maybe Elon [Musk shouldn’t own]( critical infrastructure. - The [US and Saudi Arabia]( are talking past each other. - [Xi Jinping]( is looking outward. Uh-oh. - There’s a [downside to fuel efficiency](. When You Wish Upon a Starlink We here at Bloomberg Opinion Today are all about people owning things, unlike those communists at other newsletters. Why, I myself own several things (dog, wheelbarrow, [candles]() as the fruits of my labor and would never begrudge others the same privilege. Then again, we can’t ignore that there are occasions when people owning things can be problematic for other people. Take Elon Musk. The Tesla CEO/tunnel-digger/diplomat also owns a satellite-internet service called Starlink, which happens to be helping Ukraine communicate while it fights off Russia’s invasion. This is, you will probably agree, a good thing. But Musk claims his company has spent $80 million to maintain this arrangement, and he recently threatened to end it because reasons. That would be a bad thing. But then he called backsies on his calling backsies because he is Elon Musk. It’s theoretically a net societal benefit to take, say, critical communications technology out of the hands of clumsy, broke governments and put it in the hands of can-do, wealthy capitalists, Lionel Laurent notes. But when those [capitalists are egomaniacs with an inferiority complex](, then you might have trouble.  Musk also wants to own Twitter, which is another example of what we’re talking about. It’s a garbage hellsite but also a critical information hub. It may soon be run by somebody who has used it to [attack]( critics and spread [disinformation](. And now his pal Kanye West, who has spent the past couple of weeks working hard on his anti-Semitism merit badge, is buying the social media site Parler. This is just a notch up from Friendster on the social media relevance scale, but it will give [West his own little kingdom]( in which to hold forth on such topics as [Pete Davidson](, “[Jewish Zionists](,” [fish sticks]( and “[JEWISH PEOPLE](,” Parmy Olson notes, after other platforms have [locked]( him out. Such are the perks of ownership. Begun (Again) the Oil Wars Have The US-Saudi relationship, rocky even at the best of times, has reached a new “throwing all his albums and ties out in the yard” phase. Many Americans — particularly Democrats with a tenuous grip on Congress ahead of the midterms — are angry Saudi Arabia seemingly [sided]( with Russia in cutting oil production to prop up prices. President Joe Biden has threatened consequences, causing Mohammed bin Salman's cousin to say reckless stuff about “[jihad](.” Marriage counselor Hussein Ibish writes [both sides need to stop throwing crockery]( and listen to each other. Americans don’t understand the real reasons Saudis want to prop up oil prices, and the Saudis don’t understand just how much American politics are gasoline-price-based. Repairing the breach is critical for everybody. Saudi Arabia still needs America’s protection, and as David Fickling wrote last week, the [US can’t let some other country]( have military dominance of the Persian Gulf. Javier Blas points out the US also can’t afford to have Saudis and other OPEC members [dumping US Treasury bonds]( as the spat escalates. Work it out, you crazy kids. Bonus Energy-Wars Reading: - Europe needs to help its hardest-hit countries get through [a winter without Russian gas](. — Bloomberg’s editorial board - [Capping Russian oil prices won’t stabilize]( the market if Russia doesn’t play along. — Julian Lee Xi to Transition From Covid Zero to World Peace Zero The good news about [Xi Jinping’s opening speech]( at the Communist Party’s congress is that he seems to be losing his appetite for Covid Zero lockdowns and common-prosperity business crackdowns, writes Shuli Ren. The bad news is that he is taking all that negative energy and sending it out to the rest of the world. Because that’s what the world really needs right now: more conflict. Hal Brands points out there is a non-zero chance that [China, Russia and Iran all could be at war]( with [waves in the general direction of the free world] within the next few years. It feels a lot like the buildup to World War II, which was the last time the US faced such a far-ranging axis. And just like then, the US military isn’t exactly ready for the challenge. Bonus Axis of Evil Reading: Vladimir Putin is threatening to [weaponize grain exports]( next. — Clara Ferreira Marques Telltale Chart [Making cars more efficient]( might mean people just drive them even more, David Fickling writes, which could ironically be a setback for the climate. Further Reading Jeremy Hunt has finally done the things necessary to [stop the UK’s bleeding](. But the recovery will be rough. — Marcus Ashworth You can’t really [call Goldman Sachs an investment bank]( anymore. — Matt Levine The Supreme Court is about to [end the age of diversity]( in higher education. — Noah Feldman Democrats [need a 2024 call from Biden]( soonish. — Jonathan Bernstein The [GOP wants to cause a debt crisis]( next year, to give itself leverage to slash Social Security and Medicare. — Matt Yglesias [People don’t get flu shots](, partially because of their spotty effectiveness. Better shots are on the way. — Lisa Jarvis This may actually not be a [terrible time to buy a house](. — Teresa Ghilarducci [Moving to a low-tax state]( may not actually save you money. — Alexis Leondis ICYMI We’re pretty much [guaranteed a recession]( at this point. Germany will [stick with nuclear power]( for a while after all. Credit Suisse may have an [asset-management arm]( for you to buy. Donald Trump’s White House [interfered with the CDC’s Covid]( fight. Kickers Companies are [charging quitting employees for training]( costs. American Airlines doesn’t want its [flight attendants to have an app](. Coming soon to America: [adaptive-beam headlights](. RIP, the [Arecibo telescope](. Notes:  Please send training costs and complaints to Mark Gongloff at mgongloff1@bloomberg.net. [Sign up here]( and follow us on [Instagram](, [TikTok](, [Twitter]( and [Facebook](. Like getting this newsletter? 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