Sources told Reuters news agency that the Biden administration is discussing its plans with energy companies.
Joe Biden’s administration is preparing to release an additional 10 to 15 million barrels of crude from the US strategic stockpile as part of its effort to balance it and prevent a potential spike in gas station prices, the U.S. government said on Twitter. Jennifer Jacobs, a reporter for the Bloomberg news agency, citing unnamed sources.
The White House intends to replenish American strategic reserves at the same time, the journalist added.
Sources also told the Reuters news agency on Monday that the Biden administration is discussing its plans with companies in the energy sector.
High retail fuel prices are fueling inflation, the highest in the US in decades, which could prove very costly for Mr Biden and his Democratic party in next month’s midterm elections.
RES-EMP
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I am currently a news writer for News Bulletin247 where I mostly cover sports news. I have always been interested in writing and it is something I am very passionate about. In my spare time, I enjoy reading and spending time with my family and friends.
