Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Fighting gas prices, US to release 50 million barrels of oil

 

November 24, 2021

Paul Sancya, Associated Press file

FILE - Storage tanks are shown at a refinery in Detroit, Tuesday, April 21, 2020. The White House on Tuesday said it had ordered 50 million barrels of oil released from strategic reserve to bring down energy costs.

WASHINGTON - President Joe Biden on Tuesday ordered a record 50 million barrels of oil released from America's strategic reserve, aiming to bring down gasoline and other costs, in coordination with other major energy consuming nations including India, the United Kingdom and China.

The U.S. action is focused on helping Americans coping with higher fuel and other prices ahead of Thanksgiving and winter holiday travel. Gasoline prices are at about $3.40 a gallon, more than 50% higher than a year ago, according to the American Automobile Association.

"While our combined actions will not solve the problems of high gas prices overnight, it will make a difference," Biden promised in remarks at the White House. "It will take time, but before long you should see the price of gas drop where you fill up your tank."

https://www.startribune.com/fighting-gas-prices-us-to-release-50-million-barrels-of-oil/600119929/

 

Reader Comments(0)

 
 

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2021

Rendered 12/07/2021 18:47