Pres. Biden announces plan to release roughly 1 million barrels of oil per day from the nation's strategic petroleum reserve over the next six months to reduce energy and gas prices.
"The action I'm calling for will make a real difference over time, but the truth is, it takes months, not days, for companies to increase production. That's why the next part of my plan is so important," he said."Today I'm authorizing the release of 1 million barrels per day over the next six months.
"No company should take advantage of a pandemic or Vladimir Putin at the expense of American families," Biden said."Production and innovation, that's what they should do." "We're not focused right now on sort of the immediate short-term price movements," an official said on a call with reporters earlier Thursday, adding that the focus is on addressing the gap in supply as Russian oil comes off the market.The first barrels from the announcement are set to come to the market in May for delivery that month. Officials said all the funds from the sale of the oil will go to restocking the reserves.
This would be the third time Biden has had to tap into the strategic petroleum reserve. In November, he authorized the release of 50 million barrels as gas prices surged ahead of the holidays, and along with 30 other countries, the U.S. released 30 million barrels following the start of the war in Ukraine, though that did little to ease skyrocketing prices.President Joe Biden delivers a speech at the Royal Castle in Warsaw, Poland, March 26, 2022.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Sean Hannity: Hunter Biden laptop story raises concerns if Joe Biden was compromisedFox News host Sean Hannity exposes the Biden family’s questionable business dealings on ‘Hannity.’
Leer más »
Mark Levin calls out media for protecting Joe Biden during Hunter Biden laptop scandalMark Levin speculated that Joe Biden may be the 'most corrupt president in American history,' calling out media outlets for protecting him during the 2020 election.
Leer más »
President Joe Biden receives 2nd COVID booster, presses Congress on virus fundsPresident Joe Biden called on Congress to pass billions of dollars in additional funding to fight the COVID-19 pandemic on Wednesday, as he received a second booster dose of the Pfizer vaccine.
Leer más »
Joe Biden Celebrates Transgender Day of Visibility: 'Your President Sees You'President Joe Biden celebrated transgender people on Wednesday, issuing a statement to commemorate 'Transgender Day of Visibility.'
Leer más »
President Joe Biden receives 2nd COVID booster, presses Congress on virus fundsPresident Joe Biden called on Congress to pass billions of dollars in additional funding to fight the COVID-19 pandemic on Wednesday, as he received a second booster dose of the Pfizer vaccine.
Leer más »
President Joe Biden receives 2nd COVID booster, presses Congress on virus fundsPresident Joe Biden called on Congress to pass billions of dollars in additional funding to fight the COVID-19 pandemic on Wednesday, as he received a second booster dose of the Pfizer vaccine.
Leer más »