Biden announced gas reserves would be released to offset prices....March 31st 2022

[spanone]

When is this going to happen? or has it happened?

CNN has been railing against gas prices....day after day along with our local news.

[onecaliberal]

1. BP's profits increased from 3 billion to over 10 billion in 1 quarter.

It’s easier to blame the people helping when you’re a fascist piece of shit that wants to destroy.

[DetroitLegalBeagle]

2. Its in progress right now

[link:https://www.energy.gov/articles/doe-announces-second-emergency-notice-sale-crude-oil-strategic-petroleum-reserve-address|]

The first 90 million barrels will be released between May and July, through two notices of sale totaling 70 million barrels, and 20 million barrels already scheduled to be released in May 2022. The remaining 90 million barrels will be released between August and October 2022.

[spanone]

3. Thanks, tried to find it on the net and didn't.

[former9thward]

4. Releasing the reserves will not affect prices.

Other presidents have done it -- and Biden has twice before -- and the prices are not affected. The announcement was to release one million barrels a day. The global demand for oil is 100 million barrels a day. So the release is a tiny fraction of what the world uses. And the price of oil is set by global demand.

[spanone]

5. Biden said they would.

President Biden announced a plan Thursday to draw 1 million barrels of oil per day for the next six months from the U.S. Strategic Petroleum Reserve — an unprecedented push to use the emergency stocks to try to take the edge off of soaring gasoline prices.

He said gas prices could drop by as much as 35 cents per gallon, but that it would depend on a number of factors, including how many barrels are released by allies holding oil reserves of their own. Prices average $4.22 per gallon for regular — up from $3.61 a month ago and $2.87 a year ago, according to AAA.

https://www.npr.org/2022/03/31/1089887254/biden-considering-to-tap-oil-reserves-to-control-gas-prices

[former9thward]

6. I go by what actually happens in life.

[ClimateHawk]

7. Gas prices usually go up during the summer. Is this news to CNN?