"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.
What’s in his mouth? Does he ever speak without a teleprompter ? Come on man
Hi God bless you Joe hope you have a great weekend
WorstPresidentEver
Took long enough you 🤡
But I thought psaki said the president doesn’t influence the price of gas?
As if the planet isn't already dying
It will make little difference and on May 15th - price will increase again, when the US switches over to the 'summer blend' The federally mandated dates for summer-grade gasoline and reformulated gasoline is May 1 to September 15 for refiners and terminals = 15 cents increase
Y cuánto le durará la reserva, si nada más tienen para ellos
Why is he getting incompetent lately?
Is that a good idea? How will the 'reserve' be replenished ? What if there is a war? Any other emergency...?
Where’s all my the president doesn’t control gas prices at? He just reduced prices with this move. Wonder why he didn’t do this to begin with and stop the prices from going past $4? Oh that’s right he’s buddies with all the oil owners in this country. 🤦🏽♂️
What do people do with oil gas nowadays?
just increase production. It’s that simple.
Like a cat in a little box tryin to cover up its mess
Of course it will work,that is what a reserve is for. An emergency, why have it if you never use it ?
As a tax payer, I want to know it is of the same quality.
What you don’t like reporting Hunter Biden laptop
How bout he releases his head from his ass
Very strategic
why does this joe look differenT? strange,,,,
When I was a kid I remember my parents could only buy fuel on certain days of the week and I believe the limit was 10 gallons. When I was a teenager my friends and I took week about driving to save money. Maybe Americans are too privileged and waste too much allowing greed.
It's called using oil from the US.
Somebody tell Joel to open his eyes please. The world is watching
POTUS Biden can release all the oil reserves in China + America, it won't lower the price of gas at the pump, if big oil don't wanna. Free market capitalism means greedy corporations set prices. Big govt is helpless to control when capitalism runs amok, like it has since Biden..
NoOneUnscripted this country should not be this dependent on fossil fuels
FreeBrendanDassey FreeStevenAvery MakingAMurderer Tony4WI GovEvers RosemaryScapicc NBC26 48hours RebeccaforReal people VanityFair Oprah TheEllenShow TiffanyYounger4
Short term relief during political szn from a long term problem. Domestic supply largely offline and we’re now dwindling reserves.
why not increase production by eliminating regulations that he introduced? This was his administrations plan all along, increase regulations, increase gas prices to force people to electric vehicles because of the environmental 'crisis', ie cash for 'The Big Guy'
Are producers here will hold onto even more then they already are just to continue screwing things up.
Yesterday's news. Not BREAKING NEWS.
R u kidding me ?
- Ask Joe how many muscle cars he owns! Then ask him if owns any electric cars!!!