'Neither Republicans nor Biden have the right solutions when it comes to dealing with the U.S. energy crisis,' writes Gregory Brew
, where he is expected to push Crown Prince Mohammed bin Salman to increase Saudi oil production in order to bring down world oil prices.
Republican rhetoric aside, there is little the U.S. can do to bring down oil or gasoline prices in the short term. There are material constraints to boosting domestic oil production, and even with more output the U.S. cannot lower crude oil prices on its own. Similarly, President Biden’s gas tax holiday is unlikely to lower prices very much or for very long and may even contribute to the problem by encouraging more gasoline consumption at a time when supply and demand are extremely tight.
Rather than boosting production or encouraging greater demand, the President could take positive steps to
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