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Should Biden Give New Stimulus To Offset Inflation?

by Market FinancePosted onMay 29, 2022May 29, 2022

Should Biden Give New Stimulus To Offset Inflation?

Biden Destroys America’s Backup Plan

Republicans have began attacking President Biden about his decision to drain the United States’ strategic oil reserves in hopes of lowering gas prices.

The GOP is now asking what Biden is going to do to refill these oil reserves for the future.

According to Fox, in a new letter written to Energy Secretary Jennifer Granholm a group of GOP lawmakers demanded answers from the Department of Energy explaining how they will once again refill the Strategic Petroleum Reserve after President Biden depletes it.

The letter clearly stated, “The American people deserve to know more about DOE’s plan to backfill the SPR. The SPR is intended for emergency supply chain disruptions — not as a stop gap to make up for the Biden administration’s war on domestic energy.”

Currently, gas prices are highest in the north east portion of the United States along with much of the West coast.

The letter further criticized Biden saying, “Numerous times throughout the past year, the Biden administration has released oil from the SPR with the hopes of lowering domestic gas prices. However, despite these actions, gas prices continue to rise and now stand on average at $4.60, the highest-ever average price since AAA began collecting data in 2000.”

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Published by Market Finance

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