President Biden remarks on oil and gas prices | USA Today

President Joe Biden will order the release of up to 180 million barrels of oil from the nation's emergency reserves over the next six months in a bid to provide relief to Americans from high gas prices that have soared since Russia's invasion of Ukraine.

RELATED: Why gas prices change in the U.S.

The action, which Biden will formally announce later Thursday, will represent the largest release from the reserve in its nearly 50-year history.

Gas prices at the pump have soared by nearly $1 per gallon in the month since Russia's invasion of Ukraine. The war means less Russian oil is getting to the market, and the reduction in supply is raising prices at the pump.

Senior administration officials who briefed reporters ahead of Biden's announcement could not say how much the release of oil from the strategic reserves is expected to lower prices at the pump or how soon prices will start to fall.

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38 comments

  1. This is so painful to watch someone who cannot even read anymore. At the 14:29 mark he said that “Biden” has announced he was going to release oil.

    1. Repent to Jesus Christ
      “I waited patiently for the Lord; he turned to me and heard my cry. He lifted me out of the slimy pit, out of the mud and mire; he set my feet on a rock and gave me a firm place to stand.”
      ‭‭Psalms‬ ‭40:1-2‬ ‭NIV‬‬
      M

    1. Repent to Jesus Christ
      “I waited patiently for the Lord; he turned to me and heard my cry. He lifted me out of the slimy pit, out of the mud and mire; he set my feet on a rock and gave me a firm place to stand.”
      ‭‭Psalms‬ ‭40:1-2‬ ‭NIV‬‬
      J

  2. Releasing oil from the reserve will lower the value of the US dollar. The us dollar is backed by the federal oil reserve.

    1. Repent to Jesus Christ
      “I waited patiently for the Lord; he turned to me and heard my cry. He lifted me out of the slimy pit, out of the mud and mire; he set my feet on a rock and gave me a firm place to stand.”
      ‭‭Psalms‬ ‭40:1-2‬ ‭NIV‬‬
      M

    1. Repent to Jesus Christ
      “I waited patiently for the Lord; he turned to me and heard my cry. He lifted me out of the slimy pit, out of the mud and mire; he set my feet on a rock and gave me a firm place to stand.”
      ‭‭Psalms‬ ‭40:1-2‬ ‭NIV‬‬
      K

    2. Hello 👋, how’re you doing, this is me my name is Mike., have a good day with your thoughts.!!! I don’t mind share my feelings with you!!!

      You deserve happiness, joy, and blessing. I hope this new month offers you all that you deserve. From the bottom of my heart, I wish you the best (HAPPY NEW MONTH🌹⚘) an. May light shine upon your way, may all the force of the universe join hands to promote you in all you do , stay blessed for it’s a month to be blessed….. stay safe and be positive … have a blessed day ahead pretty.. replied to this back and wish me same as you can thanks for the reading 📚…

  3. Things were much better for America and the rest of the world under Trump.
    Invoque the 25th ammendment before this guy does more damages…

  4. Just allow us to drill more oil. This is just a virtue signal to improve tanking approval ratings. This is like 3% of our total supply.

  5. Repent to Jesus Christ
    “I waited patiently for the Lord; he turned to me and heard my cry. He lifted me out of the slimy pit, out of the mud and mire; he set my feet on a rock and gave me a firm place to stand.”
    ‭‭Psalms‬ ‭40:1-2‬ ‭NIV‬‬

  6. 1st time in history our 4 military branches cant get enough volunteers for recruitment. Even with the Army offering $50,000 sign on bonuses for infantry. lol. There is hope for humanity

  7. dumb-o-crats: “the president has nothing to do with gas prices”

    also dumb-o-crats: “thank you for doing all you can to lower gas prices mr president”

  8. If the government approved so many permits, why did they cancel that pipeline? Was it from Alaska? What’s the difference? Confusing.

  9. If he can’t or will not admit that it’s his fault for the high gas prices, then he is not dealing in reality! Shutting down the Keystone pipeline was a massive mistake!

  10. Except…. gas prices will go UP because of this.

    It’s not Putin’s price hike, pal. We get less than 10% of our oil from Russia.

    In no way shape or form would that impact our gas prices THAT much. But, can’t wait to see the 25% increase by July!

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