The Biden administration’s foreign policy is proving to be a huge failure, and it’s the American people who are the ones suffering the consequences. The latest example of this is Saudi Arabia and other major oil producers’ surprise cuts totaling up to 1.15 million barrels per day from May until the end of the year, a move that could raise prices worldwide.
This move comes at a time when the Biden administration is trying to bring down prices and squeeze Russia’s finances by calling on Saudi Arabia and other allies to increase production. The production cuts alone could push U.S. gasoline prices up by roughly 26 cents per gallon, in addition to the usual increase that comes when refineries change the gasoline blend during the summer driving season. If this holds true, Americans could be looking at gasoline prices over $4 per gallon during the summer.
The Biden administration’s failed foreign policy is allowing our adversaries, like China and Russia, to gain strength and embolden them to act in ways that are damaging to our interests. For example, Saudi Arabia recently joined another Chinese bloc and is looking to join BRICS, a development that could tank our dollar.
Meanwhile, China isn’t sleeping and is doing all it can, Xi told Vladimir Putin “Changes” are coming after 100 years.
Biden says that "we vastly exaggerate" the closeness of China and Russia and then creepily whispers "they haven't yet" given each other weapons. pic.twitter.com/OvA0n64Ph1
— Greg Price (@greg_price11) March 24, 2023
Despite the facts staring him in the face, President Biden has the audacity to claim he is the one building alliances when in truth it’s our adversaries who are forming alliances.
The Biden administration’s failed foreign policy is not only hurting us domestically with higher energy prices, but it’s also allowing our adversaries to gain strength and enter into alliances that could tank our dollar and cause even greater economic hardship.
We can’t afford to have the President of the United States be so wrong on such an important issue.
US Dollar has enjoyed a reserve currency status for the last 100 years which enabled them to export inflation by printing money for all nations of the world to trade in.
If Saudi Arabia, Iran, Russia and other countries start to trade oil in Yuan, then pic.twitter.com/FCEipTybJo…
— 🌋🌋 Deep₿lueCrypto 🌋🌋 (@DeepBlueCrypto) March 27, 2023
