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Biden’s Push for Lower Energy Prices Amounts to a ‘Declaration of Bankruptcy’

FP columnist Adam Tooze discusses how fluctuating oil and gas prices are changing the world as we know it.

By , a deputy editor at Foreign Policy.
U.S. President Joe Biden delivers remarks.
U.S. President Joe Biden delivers remarks.
U.S. President Joe Biden delivers remarks on efforts to lower high gas prices in the South Court Auditorium at the Eisenhower Executive Office Building in Washington on June 22. JIM WATSON/AFP via Getty Images

Russia’s War in Ukraine

U.S. President Joe Biden’s visit to Saudi Arabia this weekend is just one of several things the U.S. leader is doing to try to bring down energy prices—which have surged since Russia invaded Ukraine this year. His administration has also called for a gas tax holiday and eased restrictions on the import of oil from Venezuela.

Cameron Abadi is a deputy editor at Foreign Policy. Twitter: @CameronAbadi

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