In the US, the Biden administration was ridiculed for unsealing strategic oil reserves

U.S. President Tries to Blame Russia for Gas Prices

White House Chief of Staff Ron Klein has been ridiculed for touting the Biden administration's taking unprecedented amounts of oil from the federal reserve for emergencies situations.

Photo: Global Look Press

Ron Klein posted a link on social media to an article in which a story about President Biden's attempt to lower gasoline prices was accompanied by the caption “HISTORIC”.

However, as noted by the American Fox News channel, critics had a different opinion about that the Biden administration is further depleting the nation's oil reserves for emergencies.

“You guys are really bragging about having to release a record amount of oil from strategic reserves,” wrote Stephen Miller, contributing editor of The Spectator, on social media.

Commentary Magazine Associate Editor and MSNBC contributor Noah Rothman reminded Klein that “historical” isn't always a good thing. “This is akin to a ‘historic’ air flight from Afghanistan. The “historic” events of the Biden administration are unprecedented in their horrificness,” he said.

Conservative commentator R.B. Pandit expressed his disappointment in his social media post, which sarcastically read, “This. Not. That. For what. Strategic. Stocks. Oil, Destined.”

As The Guardian writes, Joe Biden announced a “largest release of oil inventories” in an attempt to curb gasoline prices. The President will release up to 1 million barrels of oil per day from the strategic reserve over the next six months to curb inflation exacerbated by the conflict in Ukraine.

The President of the United States stepped out of the White House to announce the move. “Look, I know gas prices are painful. I understand. My plan will help ease that pain today and protect against tomorrow,” Biden said.

The American president, of course, blamed the Russian leadership for the price increase: “I will do everything in my power to protect you from Putin's price increase. No time for politics. Americans can't afford it right now.” It must be remembered that this year the US midterm elections are coming up, in which the positions of the ruling Democratic Party look rather shaky – so for Biden to shift the responsibility for the failures of his policy to Russia, it looks like a completely understandable opportunity.

It is reported that the US administration is considering extending the release of oil reserves for up to six months, with a potential limit of 180 million barrels taken from the current national reserve of 568 million barrels.

The Strategic Petroleum Reserve, which is designed to protect the country's access to oil in the event of natural disasters or national security concerns, is located in salt dome caves along the Gulf Coast in Texas and Louisiana.

Possible injection into the market of oil reserves, o first reported by Bloomberg as the Biden administration grapples with the political fallout from high gas prices and rising inflation. According to the American Automobile Association, the average US fuel price is now $4.23 per gallon, up from $2.87 a year ago.

Emergency measures, including gas rebates, are being considered in California, the hardest-hit state, where the average gallon of gasoline now costs about $6, writes The Guardian.

Any disclosure of US national reserves will likely be coordinated with others countries under the auspices of the International Energy Agency. Oil producers OPEC have so far resisted the increase in production after the start of Russia's military operation in Ukraine, insisting that there is no global shortage of “black gold”.

Biden confirmed that he made the decision after consulting with Western partners who have joined the US in imposing economic sanctions on Russia over the conflict in Ukraine. Earlier this month, the US imposed a ban on Russian oil imports. Russia is the second largest exporter of crude oil in the world.

“While these actions harm the Russian economy, isolate Putin from the world and help Ukrainians fight for their country,” Joe Biden explains his policy, the consequences of which hit ordinary Americans.

Biden’s plan did not only provide for an immediate increase supply, but also an increase in domestic production. The White House statement said the oil and gas industry is using more than 12 million acres of unproductive federal land with 9,000 unused but already approved production permits. Biden will also call on Congress to force oil companies to pay fees for unused wells and land.

“We need to use all the tools and technologies that can help us break free of our dependence on fossil fuels and move towards more domestically produced clean energy technologies created by American companies and American workers,” said the President of the United States.

Biden said he would use the Defense Production Act to secure America's supply chains for critical materials used in electric vehicle batteries and renewable energy storage, such as lithium, graphite and nickel.

” We need to end our long-term dependence on China and other countries for resources that will shape the future,” Biden said.

High oil prices are giving Biden a growing headache ahead of the November midterm elections, The Guardian notes. Inflation surged to a 40-year high in January, with prices up 7.5% from the previous year.

Republican leaders mounted a relentless campaign to attack Biden over oil prices. Kevin McCarthy, House Minority Leader, said: “These are not Putin's prices. These are President Biden's prices.”

Analysts attribute high gas prices, driven in large part by the Ukraine conflict and inflationary crisis, to Biden's decline in popularity and the medium-term prospects for the Democratic Party.

An NBC poll this week showed Biden's approval rating at just 40%, the lowest of his presidency to date.

Biden said that in addition to new oil production, investment in green energy also reduce energy prices. “Yes, building a clean energy base in America will help protect our national security. Yes, it will help us deal with climate change. Yes, it will help us ensure that Americans create millions of well-paying jobs for future generations. But most importantly, what my plan will do right now is save your family money.”

The President of the United States said, “We can take advantage of the next generation of electric vehicles. A typical driver will save about $80 a month by not paying for gas at a gas station. If your home is powered by safer, cheaper, cleaner electricity like solar power or heat pumps, you can save an average of about $500 a month.”

Источник www.mk.ru

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