CHICAGO, ILLINOIS – MAY 21: A sign displays gas prices at a gas station on May 21, 2024 in Chicago, Illinois. President Joe Biden has said he will release 1 million barrels of gasoline from the strategic reserve to help reduce prices ahead of the July 4th holiday and summer driving season. (Photo by Scott Olson/Getty Images)
OAN’s Abril Elfi
6:01 PM – Tuesday, May 21, 2024
The Biden Administration has announced that it will sell 1 million barrels of gasoline that was being held in case of emergencies, in an effort “to keep gas prices low” over the summer, a spokesperson claimed.
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The fuel will be released from the Strategic Petroleum Reserve’s Northeast Gasoline Supply Reserve, which was formed in 2014 in response to Superstorm Sandy’s disruption of the region’s gasoline supply in the New York City area.
“The Biden-Harris Administration is laser-focused on lowering prices at the pump for American families, especially as drivers hit the road for summer driving season,” Energy Secretary Jennifer Granholm said in a statement. “By strategically releasing this reserve in between Memorial Day and July 4th, we are ensuring sufficient supply flows to the tri-state and northeast at a time hardworking Americans need it the most.”
Many still slammed Biden’s statement and accused him of trying to “buy votes,” while also referencing his many promises to “forgive student loan debt,” which has only helped some college students so far. Meanwhile, other college students have wondered why they weren’t included in that promise.
Senator Mike Lee (R-Utah) accused Biden of “yet again using America’s emergency fuel reserves to cover for his disastrous inflationary policies in an election year.”
“Releasing 1 million barrels of gasoline from the Northeast reserve is a desperate move by Joe Biden to lower prices that HE raised,” tweeted Sen. Marsha Blackburn (R-Tenn.).”This reserve is meant for emergencies, not as a cover-up for Biden’s failed economic policies.”
According to the U.S. Energy Information Administration, the U.S. consumed 8.94 million barrels of gasoline per day, as of 2023. Therefore, the amount released on Tuesday would not cover more than three hours of the country’s average gasoline use.
The White House later released a statement on Tuesday afternoon, arguing that his energy policies focused on promoting “environmentally friendly” technologies.
“This builds on other actions by President Biden to lower gas and energy costs—including historic releases from the Strategic Petroleum Reserve and the largest-ever investment in clean energy,” said press secretary Karine Jean-Pierre.
“While Congressional Republicans fight to preserve tax breaks for Big Oil at the expense of hardworking families, President Biden is advancing a more secure, affordable, and clean energy future to lower utility bills while record American energy production helps meet our immediate needs.”
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