link to article: https:\/\/www.aljazeera.com\/economy\/2021\/11\/23\/japanese-indian-officials-working-on-release-of-oil-reserves <\/p>\n\n\n\n
Officials in Japan and India are currently working on a way to release crude oil reserves together with the US and other larger countries. Announcements could be made about the plan starting Tuesday November 30, 2021, although no official date has been announced. Joe Biden has asked countries such as China, India, South Korea and Japan for an oil release following the rising gas prices in the US, as well as President Biden\u2019s approval ratings going down right before the election. The US was not able to convince some other oil producers (such as Russia) to release some oil stock to the US, but have heard from South Korea and India that they are willing to send a small amount of oil barrels to the US. Three Indian sources have come out and said that India is having discussions with the US on the release of barrels from strategic Indian reserves. <\/p>\n\n\n\n
I feel that this is largely politically motivated. Part of the problem is the high gas prices right now which is part of why Biden\u2019s approval ratings are so poor. Biden has struggled to make gains in many of the promises he pledged when elected and the US economy remains somewhat locked down by the continuing pandemic. This appears to me to be an attempt to increase the supply of oil to achieve a reduction in price that will eventually result in lower gas prices in the US. The concern of the larger countries not in favor of this plan is the increasing threat of COVID related lockdowns in Europe further reducing demand and that would exacerbate releasing reserves and flooding the market too much.<\/p>\n\n\n\n
This can be tied back to class by using a level of analysis to figure out why India may have chosen to help supply the US with more oil. The US and India have a fairly strong relationship, and India may be thinking that if they help the US out now, that if they ever need help from the US in the future, they can look back at this instance and use it as a reason the US owes them. India may be using a pragmatic approach, by looking at what is possible and what causes the least amount of harm. It is possible that by giving the US some oil now, it may help India strengthen their relationship with the US and therefore have a positive impact for the future. This would cause them less harm because we are somewhat living in a unipolar world right now with the US being the strongest power, so India having a strong relationship with the strongest power will have a fairly positive impact for them.<\/p>\n","protected":false},"excerpt":{"rendered":"
link to article: https:\/\/www.aljazeera.com\/economy\/2021\/11\/23\/japanese-indian-officials-working-on-release-of-oil-reserves Officials in Japan and India are currently working on a way to release crude oil reserves together with the US and other larger countries. Announcements could be made about the plan starting Tuesday November 30, 2021, although no official date has been announced. Joe Biden has asked countries such as China, India, South Korea and Japan… Read more »<\/a><\/p>\n","protected":false},"author":193,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4783","post","type-post","status-publish","format-standard","hentry","category-analysis-post"],"_links":{"self":[{"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/posts\/4783","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/users\/193"}],"replies":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/comments?post=4783"}],"version-history":[{"count":2,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/posts\/4783\/revisions"}],"predecessor-version":[{"id":4788,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/posts\/4783\/revisions\/4788"}],"wp:attachment":[{"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/media?parent=4783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/categories?post=4783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/tags?post=4783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}