Biden boasts about ‘largest ever release’ from strategic petroleum reserve

[sharenow]

Daily Caller News Foundation

President Joe Biden boasted during a Tuesday speech about ordering releases from the Strategic Petroleum Reserve to address inflated gas prices.

“Across the country, the common price at the pump is $2.99 a gallon. It’s much higher here. And the prices continue to go down. This isn’t accidental,” Biden said during a speech in Bay City, Michigan. “We’ve been on this for months. Remember, I got criticized in the face of Putin using energy as a weapon. It took some decisive action. I ordered the largest ever release from the petroleum reserve, 180 million barrels of oil. And I rallied our international partners to come up with their fair share as well. That helped put pressure, downward pressure on price, because we’re producing more gasoline that helps stabilize crude oil markets and reduce prices at the pump.”

WATCH:

Biden authorized the sale of up to 180 million barrels of oil from the reserves in March, following Russia’s Feb. 24 invasion of Ukraine. Biden and the White House have often called increased gas prices the “Putin price hike,” while also blaming oil companies for high energy prices, but some experts have said Biden’s hostility to fossil fuel production has fueled higher gas prices.

The Biden administration released 10 million barrels from the Strategic Petroleum Reserve in October, putting it at its lowest level since the 1980s, according to Forbes.

The average price of gas soared to as high as $5.016 a gallon on June 14, according to AAA, while the average price for a gallon of diesel remains above $5.

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact [email protected].

DONATE TO BIZPAC REVIEW

Please help us! If you are fed up with letting radical big tech execs, phony fact-checkers, tyrannical liberals and a lying mainstream media have unprecedented power over your news please consider making a donation to BPR to help us fight them. Now is the time. Truth has never been more critical!

Success! Thank you for donating. Please share BPR content to help combat the lies.
[sharenow]

Comment

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.

PLEASE JOIN OUR NEW COMMENT SYSTEM! We love hearing from our readers and invite you to join us for feedback and great conversation. If you've commented with us before, we'll need you to re-input your email address for this. The public will not see it and we do not share it.

Latest Articles