Biden’s Oil Crisis Worsens
Biden is getting desperate.
Instead of giving U.S. oil companies the green light to begin drilling for more oil here, President Biden and his administration is now planning to release a whopping 1 million barrels of oil each day from the U.S. oil reserves for the next six months straight.
Biden is hoping this plan will combat inflation and lower gas prices across America.
According to Fox, the White House explained, “This record release will provide a historic amount of supply to serve as bridge until the end of the year when domestic production ramps up.”
Biden also pointed the finger at oil companies and threatened to fine them for unused leases. Biden is claiming oil companies are “hoarding without producing.”
“Companies that are producing from their leased acres and existing wells will not face higher fees,” the White House explained. “But companies that continue to sit on non-producing acres will have to choose whether to start producing or pay a fee for each idled well and unused acre.”
