Regardless of the motives, the move to release reserves was ill-conceived (that's being very nice) and destined to fail in delivering what Biden represented. Anybody observing the lack of impact of China releasing some of their reserves over the summer would have known that. Or basically anybody capable of doing basic math. I find it bizarre that you are pushing back on this conclusion.

If you believe the WSJ article I linked above, the maneuvere may have acutally been counter-productive.

Bigger picture, Biden's appointement of a political crony as Department of Energy and John Kerry as "Climate Advisor", his signalling to markets about drilling leases and increased regulation, his entirely unrealistic green energy plan, his demonizing of natural gas and nuclear as energy sources, etc etc. has not really instill investor confidence needed to restore US production to previous levels. That is a contributing factor to surpressed US production levels and subsequent higher oil prices. That also is not a huge leap.

[Post edited by nyhoo at 11/24/2021 11:08AM]