Biden administration announces it will tap into oil reserves
BATON ROUGE, La. (WAFB) - The price of gas across the country has hit a record-breaking average of $4.60 per gallon. On Tuesday, May 24, U.S. Secretary of Energy Jennifer Granholm visited a strategic petroleum plant in Plaquemine to talk about why gas prices continue to climb.
“A number of things are happening around the globe, obviously Russia’s invasion of Ukraine. Russia has been a major exporter of oil,” said Granholm.
Putting the blame largely on Russia for the price hikes, she announced her and the president’s plan to lower the cost at the pump.
“The President has decided that he’s going to use the biggest tool in our arsenal, which is the strategic petroleum reserve, to release one million barrels per day for the next six months, so that we can do our part to stabilize the mismatch of supply and demand globally,” Granholm continued.
Congressman Garret Graves was the only Republican in the mix among Gov. John Bel Edwards and Congressman Troy Carter. Graves says he was there today to tell the secretary himself that he believes the administration’s energy policies are reckless.
“You either leave the reserves more depleted than when you found them, or you come back later and buy more oil. Well, so they’re gonna come back and buy more oil, and it’s going to be very difficult to predict what energy markets are going to look like in several months when they plan on doing it. But right now, I expect gas and especially diesel prices to continue climbing,” said Congressman Graves.
Congressman Graves says he believes the administration either does not understand energy policy or is intentionally trying to force people to convert to electric vehicles.
“What we’re seeing right now appears so incoherent, so irrational that it’s got to be intentionally designed,” Graves added.
But Secretary Granholm says that’s not accurate.
“That is absolutely false. The price is on the global market, as you heard me tell you what the people across the world are paying. We do want to see a movement toward electrification of transportation, but we know that people aren’t in a position to buy an electric vehicle today,” said Granholm.
The White House plans to begin tapping into the reserves soon, but there is no telling how quickly you’ll notice a difference the next time you go to fill your tank.
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