The last sentence is what's important. This is something that Trump and the GOP could never do - work with other nations.President Joe Biden on Tuesday will announce the release of emergency oil reserves to combat high energy prices ahead of the busy holiday travel season, but it will be weeks before the barrels hit the market.
The Department of Energy will release 50 million barrels of oil from the Strategic Petroleum Reserve, according to the White House. The release is aimed at addressing the lack of oil supply around the world, but its actual effect may be limited. In 2019, US petroleum use averaged approximately 20.5 million barrels of oil per day and in 2020 the US used on average about 18.1 million barrels per day, according to the Department of Energy's Energy Information Administration. The EIA reports petroleum usage was lower in 2020 due to the Covid-19 pandemic.
The barrels of oil involved in Tuesday's announcement will not hit the market until "mid to late December, depending on market take up," according to a senior administration official.
This release will be in coordination with several other countries, including China, India, Japan, the Republic of Korea and the United Kingdom. Officials believe the coordinated effort could potentially have more of an effect on lowering gas prices.
THIS is what a real President does. Of course, Glenn will never praise Biden on anything. Gas prices could be a dime a gallon and Glenn would bitch.