Oil Prices Reportedly Drop After Biden Begs China

Oil Prices Reportedly Drop After Biden Begs China

(ConservativeInsider.org) – As Americans travel more than nearly all other times of the year during the holidays, many are feeling the pressure at the gas pump. With prices hitting highs not seen in years, many citizens are questioning what President Joe Biden is doing to address the issue. It turns out, the president was able to make a small dent in the price surge. However, he had to plead with China to get it.

On Thursday, November 18, the price of oil dipped 4% after President Biden asked India, Japan, and China to release some of their strategic stockpiles of crude oil. This was the first time in history that a US president negotiated oil with China.

Senator Josh Hawley (R-MO) called out the Biden administration for its seemingly backward way of dealing with this energy crisis:

Waning seasonal demand helped drop the price from its highest point in mid-October, but demand will likely increase during the holiday season, potentially spiking prices back up. However, the International Energy Agency is hopeful gas prices will plateau in the coming weeks as US companies begin ramping up oil production again. But, that depends on having oil workers and truck drivers ready and waiting to do their jobs.

Even though Americans experienced a slight dip in gas prices last week, Biden’s begging foreign countries for their oil reserves is simply not sustainable. It’s clear that developing and maintaining energy independence is the only sure-fire way to have a continuous, unhindered supply of oil coming into America.

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