dChan
Anonymous ID: acc500 Jan. 1, 2022, 8:24 p.m. No.15293846   🗄️.is 🔗kun   >>3871 >>3933

Douche head doesn't mention release of strategic oils reserves back in late november as teh reason for the 10% drop in price.

 

Biden announces release of oil reserves, but says gas prices will not drop overnight

By Kate Sullivan, Betsy Klein and Devan Cole, CNN

 

Updated 2044 GMT (0444 HKT) November 23, 2021

How Biden's oil reserve plan will likely lower gas prices in weeks

 

The Department of Energy will release 50 million barrels of oil from the Strategic Petroleum Reserve, according to the White House – the largest release from the reserve in US history, Biden said.

 

Biden on Tuesday noted that the administration's actions "will not solve the problem of high gas prices overnight."

"It will take time, but before long, you should see the price of gas drop where you fill up your tank," he said during his remarks. "And in the longer term, we will reduce our reliance on oil as we shift to clean energy."

The release is aimed at addressing the lack of oil supply around the world, but its actual effect may be limited. In 2019, US petroleum use averaged approximately 20.5 million barrels of oil per day and in 2020 the US used on average about 18.1 million barrels per day, according to the Department of Energy's Energy Information Administration. The EIA reports petroleum usage was lower in 2020 due to the Covid-19 pandemic.

 

https://edition.cnn.com/2021/11/23/politics/biden-oil-reserves-gas-prices/index.html

https://twitter.com/Breaking911/status/1477438640343199745