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How did the communication platforms react to Biden’s decision to withdraw from the oil reserve?

Communication platforms witnessed a state of controversy over US President Joe Biden’s decision to release 50 million barrels of strategic oil reserves, in an attempt to calm energy prices.

“Today I announce measures to reduce the cost of gas and oil for American families, and the Department of Energy will provide 50 million barrels of oil from the Strategic Petroleum Reserve to reduce gas and oil prices for Americans,” Biden said in a tweet.

“I have been working with countries around the world to address supply shortfalls, and as a result of our diplomatic efforts this step will be taken in parallel with other major energy consuming countries including China, India, Japan, the Republic of Korea and the United Kingdom,” he added.

Opinions differed about the US President’s decision, and tweets expressed their optimism about this step, which, in their opinion, would contribute to reducing energy prices, thanking Biden for this decision.

Arab tweeters considered that taking this step was useless, especially since the experiment proved to be a failure during the era of US President Bill Clinton, noting that Biden is trying to besiege the Saudi economy, they said.

On the other hand, economic experts warned that the decision would be a solution to the problem of high prices only in the short term, and that it would cause a major crisis in the future if it was not supported by a set of policies that increase energy sources in America.

For his part, Indian journalist and political analyst Anshumman Tiwari criticized the decision, saying, “Oil prices may not decrease. Golden Man Sachs for Financial Investments says that liberating the global government stockpile of oil will add between 70-80 million barrels only, which is less by about 100 barrels of what the market needs.”

As for Britain, economic analyst Daniel Lakeley published, through his account on Twitter, a chart of the continued rise in oil prices around the world, and commented, “Oil prices are rising despite the announcement of the release of the strategic reserve, why?: (Because) the release ( represents) less than one day of the request…”.

Canadian journalist and political analyst Cory Morgan quipped, “As Biden drains US oil reserves, I can’t help but rub my hands together in gleeful anticipation. Canadian (dirty) oil will look very good soon; of course we will gladly fill it.”

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Reference-www.aljazeera.net

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