President Joe Biden speaks about status of the country's fight against COVID-19 in the South Court Auditorium on the White House campus, Wednesday, March 30, 2022, in Washington.
President Joe Biden speaks about status of the country's fight against COVID-19 in the South Court Auditorium on the White House campus, Wednesday, March 30, 2022, in Washington. WASHINGTON — President Joe Biden is preparing to order the release of up to 1 million barrels of oil per day from the nation’s strategic petroleum reserve, according to two people familiar with the decision, in a bid to control energy prices that have spiked as the U.S. and allies have imposed steep sanctions on Russia over its invasion of Ukraine
The announcement could come as soon as Thursday, when the White House says Biden is planning to deliver remarks on his administration’s plans to combat rising gas prices. The duration of the release hasn’t been finalized but could last for several months. The people spoke on the condition of anonymity to preview the decision.
High oil prices have not coaxed more production, creating a challenge for Biden. The president has seen his popularity sink as inflation reached a 40-year high in February and the cost of petroleum and gasoline climbed after Russia invaded Ukraine. Crude oil on Wednesday traded at nearly $105 a barrel, up from about $60 a year ago.Still, oil producers have been more focused on meeting the needs of investors, according to a survey released last week by the Dallas Federal Reserve.
Support the president the American way stop unnecessary car usage use public transport, plan car usage or even try a walk. We can help.
Stop lying to the people!! 1millon a day isn’t shit to talk about
The Strategic Oil Reserve is for emergencies not for when your ill conceived political policies drive the price essential commodities out of reach of many Americans.
1 million barrels a day while we use 20 million a day. Huge help said no one ever.
Fire Marshall Joe is a funny dude
Unless he's also setting some expectations around how much this should lower pricing per gallon, it's not particularly helpful to consumers.
America is free country except, - A guy hits a host in award show for talking about his wife - It's army destroying 7 counties - killing Vietnam innocent people by fooling world - people killing each other on point blank range in it's own country Ameriki is great Jesus Christ.
The oil companies are using the war as a bogus excuse to raise prices. Russia only supplies 3% of our oil. As such gas should rise only 3%, not the 20%, or so, they have.
Strategic Reserve or Should name be changed to Political Reserve…🤔
Wonder if there’s some sort of payday in this for those in Dc! Chances are pretty good
Saudi Arabia, UAE, Kuwait have Trillions of litres of oil..... why does the price keep going up.... They are making Billions out of consumers and they know it and they are all laughing at us who suffer in the long run!
Who voted for Joe Biden to be a 'WAR HERO'? His advisors seems to think so!!! avenging their kin billionaires Putin put in prison
Wouldn't need to tap reserves if we had a president that believed in self sufficiency.
And to make money from it where is d $800m u where sending to Ukraine I mean we haven't had any News of d money where about
Well, just one more reason to Electric. Every thing else is nonsense.
Wait in February didn't they say there was nothing the administration could do? Lol 81,000,000 voted for this
Golden opportunity to promote sustainable energy and NetZero being squandered by the elites including POTUS and vonderleyen
Worst decision in American history. With the brink of war possibly on America from Russia. Biden decides to drain our oil reserves. How do you think Putin feels about this? America won’t be able to fuel a military assault without oil. If I can think this Putin has days ago
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True sick bussiness man !!.. using shoulders of Ukrainian people to built up their defence economy ..
You guys are desperate to cover for biden it’s sad. You used to actually be respected journalists around the world, now your just a trump gossip magazine.
Gas prices were 'surging' prior.
The bad (tactically poor) decisions just keep coming. But why?
Because it worked out so well before
Suicide is a permanent solution to a temporary problem. This sounds an awful lot like that. Bad idea.
Its $6.50 And $25 for not even 1/4 tank gas. Americans cannot keep doing that POTUS its almost food or gasoline now.
does the us produce about 12 million barrels of crude oil a day?
Let's see if the oil Companies actually lower prices. These companies make billions upon billions every quarter in profit, think they would help normal people with prices, HELL NO THEY WONT.
I believe gas prices started going up right around when folks were going back to work and school.. then ok.. it spiked even higher when they had Putin as an excuse eventhough the US gets less than 10% of its gas from Russia .. this is just price gouging
Waste of time