President Joe Biden’s move to release oil from strategic reserves in coordination with top oil-consuming nations including China represents a unique bet that finding common ground with the United States’ biggest economic rival can help lower fuel prices for Americans. The rare moment of possible cooperation comes as inflation, and especially high gasoline prices, eat at Biden’s popularity at home. In China, high energy prices have led to power rationing, hurting the industry and sparking concern about winter heating supplies. It is a risky proposition. Biden is trying to craft a more constructive relationship on climate change and trade out of complex ties between two nations with opposing political systems that are locked in an economic arms race. The two […]