More short-term fixes. This won’t do much to take the edge off oil prices for US citizens but it will provide useless publicity for a flailing administration and most importantly, it will take some chips off the table that might come in quite precious one day. Biden has killed Keystone, he puts the shackles on shale where he can, he pimped the EPA to make O&G miserable but he does not like the blowback. I don’t blame him – everyone wants to have it easy on all sides – it just never works.
U.S. President Joe Biden “is looking at” a potential release from the Strategic Petroleum Reserve to bring down gasoline prices after OPEC+ rejected his request to increase crude production faster, said Energy Secretary Jennifer Granholm.