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President Joe Biden taps oil reserve for 6 months to control gas prices

President Joe Biden has ordered the release of 1 million barrels of oil a day from the country’s strategic oil stockpile for six months, the White House said Thursday in a bid to curb energy prices as US and allies push Strict sanctions on Russia for its invasion of Ukraine.

Biden made the official announcement later Thursday in remarks about his government’s plans to combat rising gas prices.

The White House says Biden will also call on Congress to impose financial sanctions on oil and gas companies that lease public lands but do not generate energy.

The video shown above is from a previous report.

Copyright © 2022 by the Associated Press. All rights reserved.



President Joe Biden taps oil reserve for 6 months to control gas prices Source link President Joe Biden taps oil reserve for 6 months to control gas prices

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