Biden Administration to release 50 million barrels of oil from national reserves

President Joe Biden has given the order to release 50 million barrels of oil from the national Strategic Petroleum Reserve, according to The Hill

The publication reported that the Department of Energy will release the oil after the Tuesday order that is meant to fend of raising energy and gas prices. 

Of the 50 million barrels, there is a plan for 32 million to be returned to the reserve over the next few years once the price of fuel comes into a reasonable trajectory. 

According to The Hill, officials said that the plan for the reserve maintenance is their nod toward possible future crisis, saying they hope to keep the reserve stocked. 

Biden’s attempt to circumvent skyrocketing gas prices comes as the White House announced that China, India, Japan, South Korea, and the United Kingdom are all tapping into their own reserves.

The White House is fending off, not just rising gas prices, but record-breaking inflation and other economic challenges as the workforce attempts to regain control despite coronavirus restrictions and vaccine mandates. 

Republicans, however, are placing the blame with Biden for the shortages, including Sen. John Barrasso (R-Wyo.) the ranking member of the Senate Energy and Natural Resources Committee:

“We are experiencing higher prices because the administration and Democrats in Congress are waging a war on American energy,” Barrasso said in a statement Tuesday’s, saying Biden’s solution alone won’t fix the problem at hand.

“Begging OPEC and Russia to increase production and now using the Strategic Petroleum Reserve are desperate attempts to address a Biden-caused disaster,” Barrasso added. “They’re not substitutes for American energy production.”