“Still needs to be sold”
Yesterday US President Joe Biden declarationIt cannot immediately reduce the cost of gasoline for citizens of the United States. According to him, the country’s authorities are considering various options for action, as well as proposals for how to set a lower price for Russian oil.
The idea that we can turn the key and lower the cost of gasoline is unlikely to materialize in the short term. The same goes for food,” Biden said at a press conference.
As Bloomberg noted, high fuel and food prices have become “an explosive political issue for Biden, whose party could lose one or both houses of Congress in the November midterm elections.”
According to the American Automobile Association, US gasoline prices currently average $4.67 per gallon, a record high in the country.
The US has placed strategic reserves to “alleviate the pain”. And on the eve of Biden, “his administration’s efforts have helped prevent gas station prices from growing any further.”
As Europe moves to reduce its purchases of Russian oil, Biden announced that the United States can help limit the price of certain types of Russian oil.
“Probably there are active considerations of what can be done to buy (Rus – socialbites.ca) oil, but at a limited price. It will still have to be sold – after all, this is extremely necessary for the Russians. However, it will be sold at a significantly lower price than what the market is currently producing,” Biden said.
However, he did not specify exactly how the US could drive down the cost of fuel from the Russian Federation.
Speaking at a briefing on Thursday, Dmitry Peskov said Russia will not sell its energy resources at a loss.
“These are economic problems, but logistical problems still remain, which leads to the destabilization of the global energy market, therefore, in any case, everything is regulated by the market, despite the artificial difficulties caused by the sanctions. Of course, Russia will not sell anything at a loss, in any case, if somewhere the demand decreases, somewhere increases, there is a redirection of flows, the search for optimal conditions, ”the American president Peskov replied.
i am looking for a solution
Joe Biden may visit Saudi Arabia at the end of June as part of his trip to NATO and G7 meetings. informs Bloomberg cited sources familiar with the situation. This visit will be linked to the search for a solution to the problem of record energy prices.
The publication states that Biden accused Saudi Crown Prince Mohammed bin Salman Al Saud for the 2018 murder of US columnist Jamal Khashoggi in the kingdom’s consulate in Istanbul. Although the prince said that as the de facto ruler of Saudi Arabia, he took responsibility for the murder, he denied any involvement. And should he visit the kingdom, the US leader will almost certainly meet with the crown prince.
“Those familiar with the matter have only said that a trip to Saudi Arabia is likely, but they have not confirmed a meeting with the crown prince. They asked not to be named as Biden’s travel plans have yet to be confirmed.
Broadcast sources believe that only rising gasoline prices during his presidency could force Biden to accept the trip.
The president has threatened federal investigations into price gouging and has ordered record oil drains from US reserves to try to lower the cost of fuel at gas stations, but to no avail.
Previously, Saudi Arabia had refused to accelerate the increase in oil exports. He argued that the energy crisis could worsen at the end of the year, so it should keep spare generation capacity in reserve.
But the Financial Times reported late last week that the kingdom had signaled its Western allies that it was ready to increase its refueling.
Source: Gazeta
Barbara Dickson is a seasoned writer for “Social Bites”. She keeps readers informed on the latest news and trends, providing in-depth coverage and analysis on a variety of topics.