US President Joe Biden spoke about his administration’s plan to address soaring gas prices on Thursday. Biden said he authorized the release of one million barrels of oil per day from the nation’s strategic reserve for six months. He called on companies to increase production and asked Congress to impose fees on oil and gas companies that fail to use wells they have leased on public land.
The Biden administration announced the release of an average of 1 million barrels of oil per day from the nation’s petroleum reserve in response to rising energy prices.
Starting in May, the United States will release one million barrels of crude oil a day from the Strategic Petroleum Reserve for six months, Biden said, launching the largest ever release from the U.S. emergency oil reserve, to try to bring gas prices down.
What people are saying?
I_sell_seashells Europe pays more because our government forgives billions to our gas companies in subsidies. So we can consume so much more. We are one of the top 3 in the world for oil reserves, we just find it cheaper to buy that to develop because America has more rigorous environment laws.
svn mylz The Keystone pipeline is Canadian oil going through the U.S. to the Gulf of Mexico. It’s not oil for the U.S. to use. I thought everyone knew that. Wasn’t it explained that permits are out for companies to use? They just have to use it.