DALLAS (AP) — President Joe Biden is again dipping into the nation's petroleum stockpile to try to corral rising energy prices. The White House announced Thursday that Biden ordered the daily release of 1 million barrels of oil from the strategic petroleum reserve for the next six months. The administration hopes that tapping the petroleum reserve will buy time and tamp down gasoline prices long enough until domestic producers can boost output. This is the third time Biden has turned to the strategic petroleum reserve in a little over four months. Back in November, he ordered the release of 50 million barrels of oil.

Source: Libya Today April 01, 2022 14:37 UTC