Biden is set to travel to Saudi Arabia this week to plead his case for additional oil output.
- Jul 13, 2022, 9:00 AM CDTThe trip may end in disappointment as Middle East producers have very little capacity to spare.Join Our Community
The Middle East is just the right place to go when oil supply is concerned. Unfortunately for President Biden and for consumers in America and elsewhere, the biggest oil producers in the Middle East have very little to offer in the short term to alleviate the pain at the pump. Saudi Arabia, the world’s biggest crude oil exporter, may not have the capacity and/or the willingness to tap deeper into capacity despite the continuous calls from major oil-consuming nations.
The soaring oil prices and record national average gasoline prices of over $5 per gallon in the United States on some days in June, months before the midterm elections, have prompted President Biden to consider a visit to Saudi Arabia and a meeting with its rulers. Two years ago, he described Saudi Arabia as a “pariah” state and criticized it for its track record of abuses of human rights.
“A more secure and integrated Middle East benefits Americans in many ways. Its waterways are essential to global trade and the supply chains we rely on. Its energy resources are vital for mitigating the impact on global supplies of Russia’s war in Ukraine,” he added.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden Can Use His Saudi Trip To Push for an End to the War in YemenRiyadh increasingly sees the war in Yemen as a quagmire and is keen to extricate itself from the conflict
Read more »
Can Biden Make Saudi Arabia Produce More Oil? | OilPrice.comPresident Biden is set to visit Saudi Arabia this week, and while he may get some modest concessions he is unlikely to make the Kingdom boost production by much.
Read more »
First Lady Jill Biden Coming to Boston to Speak at Teachers Union ConventionFirst lady Jill Biden is one of several prominent officials set to speak at a teachers union convention happening in Boston later this week. The American Federation of Teachers’ biennial event will be held at the Boston Convention and Exhibition Center Thursday through Sunday. It’s the 1.7 million-member union’s first in-person meeting in four years, the organization said in a…
Read more »
Biden Administration: Doctors Must Offer Abortion If Mom's Life Is At RiskFederal law on emergency treatment guidelines preempts state laws in jurisdictions that now ban the procedure without any exceptions.
Read more »
Biden administration says doctors must provide abortions when mom's life at riskBREAKING: Joe Biden’s administration says doctors must provide abortions when mom’s life is at risk.
Read more »