strategic oil reserve
U.S. House passes legislation barring sales of strategic reserve oil to China
U.S. House Republicans wrapped up their first week in the majority Thursday by passing with bipartisan support a bill to prohibit the Energy Department from selling the nation’s stockpile of crude oil to China or affiliated entities. The bill, written by Energy and Commerce Committee Chairwoman Cathy McMorris Rodgers, a Republican from Washington, would prevent releases […]
In attempt to curb gas prices, Biden will release oil from emergency reserve
President Biden authorized the release of 15 million barrels of oil from the nation’s reserves Wednesday, part of an effort to lower gas prices as polling shows concerns over inflation are likely to hurt Democrats in congressional elections next month. The release from the Strategic Petroleum Reserve, a four-site complex of deep underground storage caverns […]