Monday, November 8, 2021
HomeNewsBiden Could Declare Act On Oil This Week: US Energy Secretary

Biden Could Declare Act On Oil This Week: US Energy Secretary

On Monday, Energy Secretary Jennifer Granholm said, “US President Joe Biden could take action as soon as this week to address soaring gasoline prices.”

Granholm told MSNBC in an interview, “He’s certainly looking at what options he has in the limited range of tools a president might have to address the cost of gasoline at the pump because it is a global market.” 

She added, “Hopefully there will be an announcement or so this week.” 

On Saturday, Biden said, “The United States had tools to respond to high oil prices, after the oil-producing countries that make up OPEC+ rebuffed US pleas to pump cruder.”

Oil prices have exceeded $80 a barrel, raising the cost of gasoline for consumers.

While the as of late passed foundation bill incorporates broad efforts pointed toward getting away from oil and other fossil fuels in the long haul, Granholm said: “immediately, the president does not want to see people hurt at the pump, home heating oil, etcetera, which is why he is calling for an increase in supply right now.”

She noted OPEC controls by far most of the world’s oil supply, saying Biden “wants to see added supply from all.”

Biden could approve a deal from the US Strategic Petroleum Reserve, which is held in a progression of caves on the Texas and Louisiana coasts.

Read More:- Months Before Oil Spill, Pipeline May Have Taken Quiet Damage

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