{"id":1027287,"date":"2021-11-18T11:58:33","date_gmt":"2021-11-18T16:58:33","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1027287"},"modified":"2021-11-18T11:58:37","modified_gmt":"2021-11-18T16:58:37","slug":"biden-asks-asian-countries-to-release-oil-reserves-as-administration-scrambles-to-combat-high-gas-prices-report","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-asks-asian-countries-to-release-oil-reserves-as-administration-scrambles-to-combat-high-gas-prices-report\/","title":{"rendered":"Biden Asks Asian Countries To Release Oil Reserves As Administration Scrambles To Combat High Gas Prices: REPORT"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">34<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-asks-asian-countries-to-release-oil-reserves-as-administration-scrambles-to-combat-high-gas-prices-report%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1027287&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The Biden administration asked China, Japan, South Korea and India to tap into their emergency oil reserves as the president continues to grapple with rising gasoline prices, Reuters reported.<\/p>\n<p>The effort to simultaneously release oil reserves represents a rebuke of the Organization of the Petroleum Exporting Countries (OPEC), the cartel that controls oil production throughout the Middle East, several anonymous sources familiar with the request <a href=\"https:\/\/www.reuters.com\/business\/energy\/exclusive-us-asks-big-countries-coordinate-releases-oil-reserves-sources-2021-11-17\/\">told<\/a> Reuters on Wednesday. OPEC has <a href=\"https:\/\/dailycaller.com\/2021\/10\/04\/oil-prices-organization-of-the-petroleum-exporting-countries-russia-white-house\/\">repeatedly rejected<\/a> <a href=\"https:\/\/dailycaller.com\/2021\/08\/11\/white-house-opec-energy-oil-gas-keystone\/\">requests<\/a> from President Joe Biden and other top administration officials to increase oil production amid rising gasoline prices.<\/p>\n<p>The four Asian nations the president appealed to represent some of the largest energy consumers and greenhouse gas emitters, <a href=\"https:\/\/ourworldindata.org\/energy-production-consumption\">according<\/a> to a University of Oxford database.<\/p>\n<p>\u201cWe\u2019re talking about the symbolism of the largest consumers of the world sending a message to OPEC that \u2018you\u2019ve got to change your behavior,&#8217;\u201d one of the sources told Reuters. <strong><a href=\"https:\/\/dailycaller.com\/2021\/11\/17\/joe-biden-federal-trade-commission-gasoline-prices-big-oil\/\">(RELATED: Biden Asks FTC To Probe Alleged Price Gouging By Gasoline Providers: \u2018Mounting Evidence\u2019)<\/a><\/strong><\/p>\n<p>China confirmed that it is \u201ccarrying out crude oil release work,\u201d Bloomberg <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-18\/china-says-release-from-strategic-oil-reserves-in-the-works\">reported<\/a>. However, a Chinese National Food and Strategic Reserves Administration spokesperson wouldn\u2019t comment on whether the action was in response to a U.S. request.<\/p>\n<div id=\"attachment_7323362\" class=\"wp-caption alignnone\" readability=\"33\">\n<p id=\"caption-attachment-7323362\" class=\"wp-caption-text\">President Joe Biden meets with Chinese President Xi Jinping during a virtual summit on Monday. (Mandel Ngan\/AFP via Getty Images)<\/p>\n<\/div>\n<p>A South Korean official confirmed that it had been approached by American counterparts with a request for the release, but said the nation is still reviewing the request, according to Reuters. The official noted, however, that it is the nation\u2019s policy not to release reserves in response to increasing prices.<\/p>\n<p>A Japanese official wouldn\u2019t confirm the U.S. requested a coordinated release, but added that the law prohibits the government from taking such action to lower gasoline prices, Reuters reported.<\/p>\n<p>In 2011, the U.S. coordinated a similar release of petroleum from reserves during the civil war in Libya, an OPEC nation, according to Reuters.<\/p>\n<p>On Wednesday, Biden <a href=\"https:\/\/dailycaller.com\/2021\/11\/17\/joe-biden-federal-trade-commission-gasoline-prices-big-oil\/\">penned a letter<\/a> to Federal Trade Commission Chair Lina Khan asking her to conduct an investigation into whether U.S. gasoline providers are engaging in price gouging. Gas prices are currently at their highest in eight years, <a href=\"https:\/\/www.eia.gov\/petroleum\/gasdiesel\/\">according<\/a>&nbsp;to the Energy Information Administration.<\/p>\n<p>The White House didn\u2019t immediately respond to the Daily Caller News Foundation\u2019s request for comment.<\/p>\n<p>Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Biden administration asked China, Japan, South Korea and India to tap into their emergency oil reserves as the president continues to grapple with rising gasoline prices, Reuters reported.The effort &#8230;<\/p>\n","protected":false},"author":181,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1027287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1027287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/181"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1027287"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1027287\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1027287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1027287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1027287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}