QUOTES-US Lawmakers, Officials, Trump, On Releasing Oil Reserves
The White House said on Tuesday it would make 50 million barrels of oil available from the United States’ strategic oil reserves as part of a coordinated effort with other major economies to help cool oil prices. oil. MARKET REACTION
Brent crude futures rose 21 cents, or 0.26%, to $ 79.91 per barrel at 1229 GMT, after falling to $ 78.55 per barrel. US West Texas Intermediate (WTI) crude futures fell 33 cents, or 0.43%, to $ 76.42.
WHITE HOUSE ON THE RELEASE OF OIL RESERVES âAmerican consumers are feeling the impact of high gas prices at the pump and on their home heating bills, and American companies are feeling it too, because the supply of oil has failed. not keeping up with demand as the global economy emerges from it.This is why President Biden is using every tool at his disposal to work to lower prices and address the lack of supply.
ENERGY SECRETARY JENNIFER GRANHOLM âAs we emerge from an unprecedented global economic downturn, the supply of oil has not kept up with demand, forcing families and businesses to pay the price. This action underlines @POTUS ‘commitment to use the tools available to reduce costs for families and continue our economic recovery. “
US SENATOR JOHN BARRASSO, RANKED REPUBLIC ON THE SENATE COMMITTEE ON ENERGY AND NATURAL RESOURCES âPresident Biden’s policies increase inflation and energy prices for the American people. Tapping the strategic oil reserve will not solve the problem. We are experiencing higher prices because the administration and Democrats in Congress are waging a war on American energy.
âPresident Biden has either eliminated or severely restricted access to US oil and gas resources on federal lands and waters. At the behest of Democrats and environmental activists, the investment banking industry has also withheld capital from companies seeking to produce oil and natural gas in the United States. Begging OPEC and Russia to increase production and now use the strategic oil reserve are desperate attempts to deal with a disaster caused by Biden. They do not replace American energy production. CHIEF OF MAJORITY IN THE SENATE CHARLES SCHUMER
“President Biden’s announcement is good news for American families and will strengthen our economy. Using the SPR will provide much-needed temporary relief to the pump and signal OPEC that it cannot recklessly handle the pump. offer to artificially inflate gas prices. The only long-term solution to rising gas prices is to continue our march to eliminate our dependence on fossil fuels and create a robust green energy economy. “THE FORMER US PRESIDENT DONALD TRUMP
“I understand Joe Biden will announce an ‘attack’ on new strategic oil reserves so that he can approach artificially lowered record oil prices. We were energy independent a year ago, now we are in grace. OPEC, gasoline sells for $ 7 in parts of California, goes up across the country, and they pull oil from our strategic reserves. Is that a way to run a country? âREPUBLIC REPRESENTATIVE BYRON DONALDS
âThe fact that @POTUS releases 50 million barrels of oil from our strategic reserve proves how ridiculous its energy policies have been. America was energy independent and prosperous. Rely on OPEC, so that ‘it could be the new green POTUS deal, was stupid from the start! ”
(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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