Independent news has never been so important.

Did you know that you can get Democracy Now! delivered to your inbox every day? Sign up for our Daily News Digest today! Don't worry, we'll never share or sell your information.

U.S. and Other Nations to Tap Oil Reserves in Attempt to Lower Consumer Fuel Prices

HeadlineNov 24, 2021

President Biden announced the U.S. will tap into its strategic oil reserves in hopes of reducing energy prices. The U.S. will release 50 million barrels of crude oil. Biden spoke Tuesday.

President Joe Biden: “It will take time, but before long you should see the price of gas drop where you fill up your tank. … And in the longer term, we will reduce our reliance on oil as we shift to clean energy. But right now I will do what needs to be done to reduce the price you pay at the pump.”

Britain, China, India, Japan and South Korea will also authorize the release of oil. Climate groups condemned the move, which comes less than two weeks after the U.N.’s global climate summit.

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation