Don Posted March 31, 2022 Report Share Posted March 31, 2022 The federal oil reserves, kept for the nations and military use during emergencies is fixing ta get tapped according to president Biden... USA Today: Biden to release up to 180 million barrels of oil from reserve to drive down gas prices President Joe Biden has ordered the release of up to 180 million barrels of oil from the nation's emergency reserves over the next six months in a bid to provide relief to Americans from gas prices that have soared since Russia's invasion of Ukraine. Biden's order, announced Thursday, calls for the release of 1 million barrels of oil per day over the next six months from the Strategic Petroleum Reserve. The action will represent the largest release from the reserve in its nearly 50-year history. "This is a moment of consequence and peril for the world and pain at the pump for American families," Biden said. Gas prices at the pump have jumped by nearly $1 per gallon in the month since Russia's invasion of Ukraine and now average $4.20 per gallon, with even higher prices in some areas. The war means less Russian oil is getting to the market, and the reduction in supply is raising prices at the pump. apnews.com/article/business-ap-news-alert-biden-orders-release-of-oil Hopefully this will help keep the prices of not only vehicle fuel, but things like groceries likely to be hit by rising fuel prices from hurting too much in the coming months... Quote Link to comment Share on other sites More sharing options...
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