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Biden asked China to release oil reserves to ease prices, boost economic cooperation

Biden asked China to release oil reserves to ease prices, boost economic cooperation thumbnail

President Biden appealed to Chinese President Xi Jinping to release crude oil from its strategic reserves in a move that would aim to stabilize rising oil prices, the South China Morning Post reported. China is the world’s largest net importer of oil.

Biden and Xi held a virtual meeting earlier this week, during which they covered a range of topics including opportunities for economic cooperation between the two countries.

U.S. Secretary of State Antony Blinken and Chinese Foreign Minister Wang Yi also touched on the subject two days before the presidential discussion.

A report by the South China Morning Post indicates that China signaled it is open to Biden’s request, but has yet to commit to any specific measures as it must consider its own domestic consumption needs. The release might be coordinated with other powers including Japan, also a net oil importer, and India, which has recently become a net exporter.

Vice Premier Han Zheng said that authorities must “strengthen management of energy trade and reserves management to better guide and stabilize market expectations.”

Rep. August Pfluger, whose Texas district includes one of the nation’s largest energy-producing regions, blasted Biden’s move.

“I find it ironic that the week after COP26, President Biden is advocating for an increase of oil on the market via coordinated Strategic Petroleum Reserve (SPR) releases,” Rep. Pfluger told Fox News. “After pandering, and failing, to convince OPEC to increase production, President Biden is now turning to another enemy by asking China to release their SPR as well. Instead, this administration should be expeditiously approving pipelines and permits to allow more drilling on American soil.”

Jason Modglin, president of the Texas Alliance of Energy Producers, confirmed Biden’s talk with China about releasing oil from its strategic reserves and told Fox News that Biden’s appeal shows “the underlying need the world has for petroleum” and that looking for outside help “is only a temporary measure.”

“If the government was serious about addressing price inflation from oil supply constraints, they would be encouraging and approving more pipelines, LNG export facilities and providing certainty on federal policy to encourage domestic production of oil and natural gas,” Modglin said.

Biden’s appeal to China is the latest in a series of overtures to foreign energy sources in an effort to deal with rising energy prices. The combination of Biden’s moves to limit U.S. production of oil and a later supply chain crisis has forced prices to all-time highs for gas and oil is causing a significant crunch on U.S. consumers. U.S. oil production is down about 1 million barrels per day from its 2019 peak, with Russia filling in most of the void to keep up with demand.

Biden moved swiftly after taking office to enact his energy agenda by shutting down the Keystone XL pipeline, which would have transported the equivalent of 830,000 barrels of oil from Alberta tar sands to refineries on the Gulf Coast per day.

Recent reports indicated that Biden might shut down the Line 5 pipeline that runs through Michigan, but he has yet to decide on the matter.

Despite these moves, the Biden administration also waived sanctions against a pipeline for Russia to ship energy to Germany. Data from the U.S. Energy Information Administration shows that Russia recently passed Mexico and is now America’s second-largest source for petroleum imports – around 795,000 barrels per day.

Biden also tried looking to OPEC to produce more crude oil, but the cartel repeatedly refused to do so as part of its ongoing effort to control and limit production when possible.

Saule Omarova, Biden’s nominee for the Office of the Comptroller of the Currency, in February said that letting U.S. energy companies go bankrupt might help the fight against climate change.

During a presentation for a “Social Wealth Seminar,” Omarova was making the case for a U.S. National Investment Authority – a proposed federal agency that would work with the Treasury and the Federal Reserve to allocate public and private capital to green infrastructure companies, according to Data for Progress.

“The NIA will be able to negotiate equity stakes in private enterprises that receive that public aid, be it part of the systemic bailout or be it part of … individual restructuring help, for example, for certain troubled industries and firms that are transitioning,” she said.

YAHOO



21 Comments on "Biden asked China to release oil reserves to ease prices, boost economic cooperation"

  1. DeathSentenceIsComing on Mon, 22nd Nov 2021 6:40 pm 

    Are both of them about to get deadly skin cancer starting by their face. Sure looks like it.

    https://www.youtube.com/watch?v=biKr34fDb0E

    All the Jews will be exterminated, It is what I want, father want and it is what is best for the whole world

  2. EverythingIsRollingForTheFinalAct on Mon, 22nd Nov 2021 7:16 pm 

    30:10 face is buffer face color. You know the rest.

    https://www.youtube.com/watch?v=uddpWu5-1Uk

  3. EverythingIsRollingForTheFinalAct on Mon, 22nd Nov 2021 7:28 pm 

    Look at Elon Mush red nose on the thumbnail. Is he having skin cancer also.

    https://www.youtube.com/results?search_query=%22Why+I+Fire+Employees+Every+Day%22+-+Elon+Musk

  4. DeathSentenceIsComing on Mon, 22nd Nov 2021 8:38 pm 

    Maybe it is not Father giving the animals, Jews, Bankers skin cancer; maybe it me all along. Maybe I own you and earth.

    Something to think about.

  5. ExterminationOfTheJewsIsNeedBeforeARebuild on Mon, 22nd Nov 2021 11:34 pm 

    You know when I said I own the earth and I want all the Jews exterminated. Maybe I actually mean it, this is not part of some kind of script.

  6. ExterminationOfTheJewsIsNeedBeforeARebuild on Mon, 22nd Nov 2021 11:49 pm 

    When I am saying, I will cleanup Quebec, maybe I also mean it.

  7. SomeOfMyMusing on Tue, 23rd Nov 2021 2:10 am 

    I know there is no real reality. So which reality should I work with. The reality that I see with my eyes. Or the electromagnetic realty such internet, computer screen, news network that I can only see through a medium running on electricity. Difficult to be in both reality at the same time and make sense of it.

    Which reality should I work with first.

    I had good spirit sex. I now talk to the spirit and we have conversation while she give me boost of energy. I don’t want to be on this earth. It is really a fucking shit hole made for animal. This earth is not for spiritual people. The energy field is for spiritual people, this earth is so crappy.

  8. ExterminationOfTheJewsIsAPlusForTheWorld on Tue, 23rd Nov 2021 3:04 am 

    Lot of people of facial skin cancer.

    https://www.youtube.com/watch?v=wa3zOc_fjiI

    2:21
    6:21
    19:25

  9. ExterminationOfTheJewsIsAPlusForTheWorld on Tue, 23rd Nov 2021 3:18 am 

    When I said to destroy the reality between the internet, or the electromagnetic medium running on electrify, I was not expecting it to happen that fast. Maybe it is my electromagnetic thoughts and mind that is making all this happen, including facial skin cancer. Maybe father has nothing to do with, maybe it is indeed my show.

    https://www.youtube.com/watch?v=2ZO7Ae2d

  10. ExterminationOfTheJewsIsAPlusForTheWorld on Tue, 23rd Nov 2021 3:20 am 

    When I said to destroy the reality between the internet, or the electromagnetic medium running on electricity and real life, I was not expecting it to happen that fast. Maybe it is my electromagnetic thoughts and mind that is making all this happen, including facial skin cancer. Maybe father has nothing to do with, maybe it is indeed my show.

    When I said to destroy the reality between the internet, or the electromagnetic medium running on electrify, I was not expecting it to happen that fast. Maybe it is my electromagnetic thoughts and mind that is making all this happen, including facial skin cancer. Maybe father has nothing to do with, maybe it is indeed my show.

    https://www.youtube.com/watch?v=2ZO7Ae2dFqA

  11. ExterminationOfTheJewsIsAPlusForTheWorld on Tue, 23rd Nov 2021 3:30 am 

    I wonder when these two clown will get facial skin cancer. I should count the number of days from now. These are not human. These are the animal specie invading earth and taking control of everything. This is the specie that father hate even more than me.

    https://www.youtube.com/watch?v=kexuG-YcQFA

    https://www.youtube.com/watch?v=JaUCiKTNBxQ

  12. ExterminationOfTheJewsIsAPlusForTheWorld on Tue, 23rd Nov 2021 3:48 am 

    Every fucking video on Elon Musk on my main YouTube page contain a thumbnail of him with facial skin cancer. Every fucking video.

    https://www.youtube.com/results?search_query=SpaceX+employee+opens+up+about+Elon+Musk

  13. ExterminationOfTheJewsIsAPlusForTheWorld on Tue, 23rd Nov 2021 3:53 am 

    You want another video of Elon Musk with facial skin cancer. I have another one. Not all video of Elon Musk have an thumbnail of him with skin cancer. But a lot of them do

    https://www.youtube.com/results?search_query=%22I+Tried+To+Warn+You%22+-+Elon+Musk+LAST+WARNING+(2021)

  14. ExterminationOfTheJewsIsAPlusForTheWorld on Tue, 23rd Nov 2021 4:01 am 

    Look Elon Musk, the alpha leader with facial skin cancer again. Some people in Quebec must start to be nervous. I would be if I was at their place. I have already produced of list of people to be executed with facial skin cancer.

    Elon Musk BEST Motivation 2020! | 10 Rules for Success

  15. ExterminationOfTheJewsIsAPlusForTheWorld on Tue, 23rd Nov 2021 4:02 am 

    This is the link.

    https://www.youtube.com/results?search_query=Elon+Musk+BEST+Motivation+2020!+%7C+10+Rules+for+Success

  16. ExterminationOfTheJewsIsAPlusForTheWorld on Tue, 23rd Nov 2021 4:12 am 

    Look at that even Jeff Bezos is showing sign of facial skin cancer.

    https://www.youtube.com/results?search_query=Jeff+Bezos+Genius+Award+Speech+-+Liberty+Science+Center+Genius+Gala+4.0

  17. ExterminationOfTheJewsIsAPlusForTheWorld on Tue, 23rd Nov 2021 4:33 am 

    Bidet and Musk, both have facial skin cancer. This remind me when I said, to transform the invading aliens into animals with black eyes. It started slow and eventually gather its own momentum and became unstoppable. Maybe the same thing will happen with this facial skin cancer shit.

    https://www.youtube.com/results?search_query=Game+Over!+Elon+Musk+VS+Joe+Biden+is+Getting+Worst

  18. ExterminationOfTheJewsIsAPlusForTheWorld on Tue, 23rd Nov 2021 5:30 am 

    This is serious skin cancer shit: 1:04

    https://www.youtube.com/watch?v=H-4yodHCvu0

  19. YouHaveBeenwarned on Tue, 23rd Nov 2021 2:34 pm 

    When I said I have an execution list for Quebec and I want all the Jews exterminated, this is what I really want, there is no double talks, it is not part of a script, this is what I want. Look at the link above with business people having red faces.

    You should fuck with me or disrespect me.

  20. YouHaveBeenWarned on Tue, 23rd Nov 2021 2:36 pm 

    You should not fuck with me or disrespect me.

  21. YouHaveBeenWarnedMultiplesTimes on Tue, 23rd Nov 2021 2:44 pm 

    Another fucking thing, worthless pieces of shit. When I said Father is going to cold down the planet and kill us all. Sometimes I wonder if it is simply my thoughts and mind making it happen. I might have been indirectly responsible for the Texas ice storm that shut down some part of their electrical grid. I think Father was trying to tell me this is your show, run it the way you wants.

    SCHOOL CANCELLED IN YAKUTIA, RUSSIA AS TEMPERATURES PLUNGE TO -50C (-58F), RARE LATE-SNOWS HIT ARGENTINA, + PARTS OF ANTARCTICA ARE HOLDING UNUSUALLY COLD

    https://electroverse.net/temps-plunge-to-58f-in-russia-rare-snows-hit-argentina-antarctica-holds-unusually-cold/

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