Biden offers Xi Jinping a way to sharply reduce oil prices


During the last online summit between China and the United States, President Biden proposed to his colleague to free some of the oil from the strategic reserves of both countries. This, according to the head of the White House, will help to sharply reduce the growing prices for energy resources.


The rise in the cost of raw materials is a negative factor for industrialized countries. This is especially true for the United States, which holds the title of the largest oil consumer in the world.

To contain prices, Washington offers Beijing to print out its reserves by injecting millions of tons of raw materials into the market. Today, the United States has over 720 million tonnes of oil in its strategic reserves. China is content with about 200 million barrels. However, the current price of "black gold" is quite affordable for the PRC and does not require any urgent measures from the country's leadership.

On the contrary, the United States, experiencing the strongest inflation in recent decades, is seeking to reduce energy prices. Be that as it may, regardless of China's decision, the American authorities will most likely begin the withdrawal of strategic oil reserves to the international market, experts say.
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  1. Bulanov Offline Bulanov
    Bulanov (Vladimir) 17 November 2021 13: 29
    +1
    During the last online summit between China and the United States, President Biden proposed to his colleague to free some of the oil from the strategic reserves of both countries.

    America has already offered Russia to jointly destroy chemical weapons. Russia destroyed, but the United States did not. They want to do the same trick with China. But communist China is learning from the mistakes of the former USSR and today's Russia.
  2. Bakht Offline Bakht
    Bakht (Bakhtiyar) 17 November 2021 13: 41
    +1
    Today, the United States has over 720 million tonnes of oil in its strategic reserves.

    The strategic oil reserve in the United States is 619,6 million barrels.

    There is a difference in tonnes and barrels. Approximately 7 times.
    And one more nuance. As of 2019, roughly one-third of US strategic oil reserves are contaminated with bacteria. There are no longer sulfur impurities, but hydrogen sulfide. And the poisoning continues.
    https://ria.ru/20190417/1552741987.html

    In addition. World oil consumption is expected to reach 99 million barrels per day. World oil production is expected at 94 million barrels per day. The numbers vary from source to source. These are average values. The total difference is 5 million barrels per day. For example, in 100 days (3 months) 500 million barrels must be thrown onto the market. Utopia....

    That is, Mr. Biden wants to cheat Comrade Xi.
    1. Astronaut Offline Astronaut
      Astronaut (San Sanych) 18 November 2021 23: 38
      -1
      As of 2019, roughly one-third of US strategic oil reserves are contaminated with bacteria.

      Hydrogen sulfide is not bacteria. There are methods to extract it
      1. Bakht Offline Bakht
        Bakht (Bakhtiyar) 19 November 2021 00: 04
        +2
        Certainly not bacteria. Bacteria convert sulfur to hydrogen sulfide. You, apparently, inattentively read the link.

        According to experts, the fuel was poisoned by bacteria that have multiplied in the tanks, which convert sulfur (contained in oil) into hydrogen sulfide.

        A Chinese company was paid a million to purify oil. There are cleaning methods, but it costs money.

        And to the Chinese, the government agreed to pay a million dollars in compensation for the cost of additional cleaning of raw materials.
  3. gorenina91 Offline gorenina91
    gorenina91 (Irina) 17 November 2021 17: 37
    -7
    During the last online summit between China and the United States, President Biden proposed to his colleague to free some of the oil from the strategic reserves of both countries. This, according to the head of the White House, will help to sharply reduce the growing prices for energy resources.

    - Some nonsense was introduced by Biden ... - And how Americans only tolerate this insignificance ... - and it seems that they are not going to change ...
    - And China's strategic reserve is Russia ...
    - Not where Biden starts ... - Yes, it looks like this is a completely worthless president ...
    - Personally, I used to think that the most disastrous US president ... - it was "Bush Jr." ... - that his appearance was "disastrous" (some kind of Indian) ... - and that his "brains" (sucks) ... - But now Biden ("in his brains") begins to slide down to the level of "Bush Jr." ...