kyiv.Ukraine.Ukraine Gate – November 24,2021- US President Joe Biden has promised that he will make every effort, together with international partners, to bring down the soaring global oil prices due to lack of supply in the market.
He stated this on Tuesday during an appeal from the White House, according to an Ukrinform correspondent.
“We are making tremendous efforts to bring oil prices down – an effort that will span the globe and ultimately affect your nearest gas station,” the US President said.
He said that in recent weeks he personally held telephone conversations and meetings with foreign leaders and politicians in order to achieve lower fuel prices. India, Japan, the Republic of Korea and the United Kingdom have agreed to free additional oil from their reserves, he said. In addition, Biden noted that China can do a little more.
“This coordinated action will help us deal with the supply gap, which in turn will help drive down prices,” Biden said.
He also acknowledged that such joint action will not solve the problem of high gasoline prices overnight, but it will change the situation. Biden noted that this will take some time.
“But soon you will see the gas price drop as you fill up your tank. And in the far-sighted perspective, we will reduce our dependence on oil by switching to clean energy, ”the head of the White House emphasized.
The Biden administration on Tuesday announced the release of 50 million barrels of oil from the strategic reserve to lower commodity prices.
