Biden questions if gas vendors are squeezing consumers for extra dollars at the pump amid soaring prices.
Gas prices, all over the $5 per gallon mark, are displayed at a gas station in Rancho Cordova, Calif., Monday, March 7, 2022
Biden has been criticized by both sides of the aisle for high gas prices, which have risen sharply under his administration even before Russia’s invasion, and many have publicly called for him to open up oil and gas drilling in the United States to lessen the country’s dependence on foreign oil. However, in making the announcement, the administration did not make any mention of Russia, despite pinning all blame for increasing costs on the country just a few months later.On March 1, Energy Sec.Jennifer Granholm committed to collectively releasing 60 million barrels of oil from the strategic reserves, in conjunction with allies of the U.S., 30 million of which would come from the U.S. Strategic Petroleum Reserve.
"In line with this decision, President Biden authorized me to make an initial commitment on behalf of the United States of 30 million barrels of oil to be released from the Strategic Petroleum Reserve. We stand prepared to take additional measures if conditions warrant," Granhom stated.The Biden administration had said that the petroleum reserves would begin rebuilding their holdings to ensure the emergency resources would not be depleted.
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