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Monday, Nov 29, 2021

Release Of Oil Reserves Will "Make A Difference": Joe Biden

Release Of Oil Reserves Will "Make A Difference": Joe Biden

"It will take time but before long you should see the price of gas drop," said US President Joe Biden in a White House speech.
President Joe Biden said Tuesday that the release of strategic oil reserves by the United States and other major consumers will "make a difference" for Americans anxious about fuel prices.

"It will take time but before long you should see the price of gas drop," the president -- who has seen his popularity sink amid a surge in fuel prices and overall inflation -- said in a speech at the White House.
Comments

Ken 3 days ago
50 million barrels is less than three days consumption in the US at 18 to 20 million barrels per day, or less than 1% of the yearly consumption. It won’t make an even noticeable difference in the price of gasoline at the pump. It will reduce our strategic reserve of 604 million barrels by 8%, leaving the US a bit less prepared for a hurricane refinery disaster in the Gulf.

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