(C) Common Dreams
This story was originally published by Common Dreams and is unaltered.
. . . . . . . . . .



Timeline: Oil Dependence and U.S. Foreign Policy [1]

['Lindsay Maizland', 'Olivia', 'Angelino', 'Thomas J. Bollyky', 'Will Freeman', 'With Carolyn Kissane', 'Max Boot', 'Steven A. Cook', 'Linda Robinson', 'Ray Takeyh']

Date: 2023-10

Russia’s invasion of Ukraine causes turmoil in global oil markets. Biden blocks U.S. imports of oil from Russia, and Western sanctions cause energy companies to withdraw from the country. Oil prices, already rising in the wake of the pandemic, surge to their highest level since 2008. In response to near-record gasoline prices, U.S. lawmakers on both sides of the aisle call for boosting domestic oil production, though some in Congress urge a quicker transition to renewable energy. The United States and other members of the International Energy Agency announce plans to collectively release sixty million barrels of oil from strategic reserves. Meanwhile, the Biden administration considers smoothing rocky relations with Iran, Saudi Arabia, and Venezuela in the hope that those countries will supply more oil. Senior U.S. officials travel to Caracas for the first time since 2019, and the Biden administration pushes to finalize negotiations on reviving the 2015 Iran nuclear agreement and lifting U.S. sanctions on Tehran.

[END]
---
[1] Url: https://www.cfr.org/timeline/oil-dependence-and-us-foreign-policy

Published and (C) by Common Dreams
Content appears here under this condition or license: Creative Commons CC BY-NC-ND 3.0..

via Magical.Fish Gopher News Feeds:
gopher://magical.fish/1/feeds/news/commondreams/

You are viewing proxied material from magical.fish. The copyright of proxied material belongs to its original authors. Any comments or complaints in relation to proxied material should be directed to the original authors of the content concerned. Please see the disclaimer for more details.