US President Joe Biden’s decision to limit the development of oil and gas fields in the Arctic helped Russia win in oil production. In this respect writer Heritage Foundation.
Biden’s decision to ban the development of oil and gas fields in the Arctic brought an unexpected benefit to Russia. The publication noted that energy companies will no longer be able to develop beds in an area of approximately 1.13 million hectares until the next administration or the US Congress reverses this decision.
Biden’s willingness to focus on renewable energy has been a boon for China, according to the publication. We are talking about the fact that China is the main producer of components for the production of this energy. Also in this case, Russia, which can easily extract resources, wins.
According to the article’s author, the US could compete with Russia had Biden not taken the side of the environmental lobby. However, this decision will only weaken States in the future.
March 19 Nihon Keizai WroteThat Russia and OPEC countries can save on oil prices by reducing fuel production. This may be because oil prices have fallen against the backdrop of the banking crisis in the US.