The White House is hoping transitions to clean energy and continued dips into the strategic oil reserves will help offset OPEC's decision to cut back oil production.
An oil pumping jack, also known as a"nodding donkey", in an oilfield near Dyurtyuli, in the Republic of Bashkortostan, Russia, on Thursday, Nov. 19, 2020.
She added, "We are making a historic investment in accelerating the transition to clean energy as it relates to Russia." While the cuts will likely negatively impact consumer wallets, they are expected to spur a recovery in oil prices for producing nations like Russia,Strategic Petroleum Reserve."The Department of Energy will deliver another 10 million barrels from the Strategic Petroleum Reserve to the market next month as part of the historic 180 million barrel release the president ordered back in March," the press secretary said.
White House press secretary Karine Jean-Pierre speaks during the daily briefing at the White House in Washington, Wednesday, May 18, 2022. Prices at the pump range from $3.06 per gallon in Mississippi to as much as $6.41 per gallon in California, according to AAA. The national average gas price is currently sitting at $3.80 per gallon.
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