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Wednesday, Dec 08, 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 12 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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