{"id":1047466,"date":"2021-11-23T08:13:31","date_gmt":"2021-11-23T13:13:31","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1047466"},"modified":"2021-11-23T08:13:37","modified_gmt":"2021-11-23T13:13:37","slug":"biden-announces-release-of-50-million-barrels-of-oil-from-strategic-petroleum-reserve","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-announces-release-of-50-million-barrels-of-oil-from-strategic-petroleum-reserve\/","title":{"rendered":"Biden Announces Release Of 50 Million Barrels Of Oil From Strategic Petroleum Reserve"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-announces-release-of-50-million-barrels-of-oil-from-strategic-petroleum-reserve%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1047466&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>President Joe Biden announced the release of 50 million barrels of oil from the Strategic Petroleum Reserve (SPR) on Tuesday as high gas prices continue to affect Americans across the country.<\/p>\n<p>The U.S. Department of Energy has a two-pronged plan for the release, with 32 million barrels being part of an exchange over the course of several months, according to the White House. Eighteen million more barrels \u201cwill be an acceleration into the next several months of a sale of oil that Congress had previously authorized,\u201d according to the administration.<\/p>\n<p>The SPR is a supply of <a href=\"https:\/\/dailycaller.com\/2021\/11\/19\/joe-biden-department-of-the-interior-oil-gas-gulf-of-mexico\/\">oil<\/a> kept for emergencies and hasn\u2019t yet been used to help with oil prices, <a href=\"https:\/\/www.cbsnews.com\/news\/strategic-petroleum-reserve-release-biden\/\">according<\/a> to CNBC. While tapping into the SPR could help with prices for the short-term, its long-term results may be less effective, the network added.<\/p>\n<p>\u201cThis is the first time we have done something like this in parallel with other major energy consuming nations,\u201d one senior administration official said, noting that the release is being taken in parallel with China, India, Japan, the Republic of Korea and the U.K. <strong><a href=\"https:\/\/dailycaller.com\/2021\/11\/18\/joe-biden-treasury-department-comptroller-saule-omarova-gasoline-prices\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED:\u2018A Tricky Question\u2019: Top Biden Nominee Saule Omarova Struggles To Answer Question On Whether High Gas Prices Are Bad For Americans)<\/a><\/strong><\/p>\n<div id=\"attachment_7325843\" class=\"wp-caption aligncenter\" readability=\"38\">\n<p id=\"caption-attachment-7325843\" class=\"wp-caption-text\">WASHINGTON, DC \u2013 NOVEMBER 21: U.S. President Joe Biden walks to the West Wing from Marine One on the South Lawn off the White House on November 21, 2021 in Washington, DC. The President spent the weekend at his home in Wilmington, DE. (Photo by Samuel Corum\/Getty Images)<\/p>\n<\/div>\n<p>House Democrats, in a Monday letter, pushed Biden to release crude oil from the SPR and reimplement an oil exports ban in an effort to help with prices, Reuters <a href=\"https:\/\/www.reuters.com\/article\/usa-biden-oil-idAFL1N2SE00S\">reported<\/a>. The American Automobile Association <a href=\"https:\/\/gasprices.aaa.com\">noted<\/a> that gas prices have more than doubled in price compared to one year ago, though it\u2019s <a href=\"https:\/\/www.cnn.com\/2021\/11\/18\/investing\/premarket-stocks-trading\/index.html\">reportedly<\/a> begun to ease in some parts of the country.<\/p>\n<p>\u201cThe President stands ready to take additional action, if needed, and is prepared to use his full authorities working in coordination with the rest of the world to maintain adequate supply as we exit the pandemic,\u201d the White House said Tuesday morning.<\/p>\n<p>Prior to <a href=\"https:\/\/dailycaller.com\/2021\/11\/19\/cnn-joe-biden-gasoline-prices-oil-china\/\">tapping<\/a> into the SPR, the president asked the Federal Trade Commission to investigate gas and oil companies for illegal price gouging. In a letter sent Nov. 17, Biden claimed there\u2019s \u201cmounting evidence of anti-consumer behavior by oil and gas companies,\u201d Axios reported at the time.<\/p>\n<p>Tuesday afternoon, Biden is scheduled to give remarks to the nation on \u201cthe economy and lowering prices for the American people.\u201d It\u2019s likely he will speak on this recent announcement. The latest effort to lower prices coincides with Biden\u2019s struggling poll numbers and a series of <a href=\"https:\/\/dailycaller.com\/2021\/11\/11\/joe-biden-supply-chain-issues-stimulus-checks-spending-fed-inflation\/\">crises<\/a> plaguing the country, including supply chain issues and inflation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden announced the release of 50 million barrels of oil from the Strategic Petroleum Reserve (SPR) on Tuesday as high gas prices continue to affect Americans across the &#8230;<\/p>\n","protected":false},"author":125,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1047466","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1047466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/125"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1047466"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1047466\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1047466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1047466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1047466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}