Biden’s Plan To Lower Gas Prices
Will this work?
In an attempt to lower gas prices for Americans, President Biden will now meet with leaders of other countries to reach an agreement to release oil from the global petroleum reserve.
According to Fox, Brent Crude oil which is the global standard shot above $105 per barrel due to the Russia-Ukraine conflict and economists began to panic.
After coming up with the plan, President Biden stated, “We are actively working with countries around the world to elevate collective release from the strategic petroleum reserves of major energy-consuming countries. The United States will release additional barrels of oil as conditions warrant.”
This decision would mark the second time in Biden’s Presidency that he would have to release oil from petroleum reserves.
In November, Biden released 50 million barrels of oil from America’s Strategic Petroleum Reserve in an attempt to lower gas prices.
