Zeke Miller and Josh Boak

Government, Business, Fuel

Biden Plans to Tap Oil Reserve to Control Gas Prices

pump jacks Pump jacks in Midland, Texas, by Angus Mordant/Bloomberg News

WASHINGTON — President Joe Biden is preparing to order the release of up to 1 million barrels of oil per day from the nation’s strategic petroleum reserve, according to two people familiar with the decision, in a bid to control energy prices that have spiked as the U.S. and allies have imposed steep sanctions on Russia over its invasion of Ukraine.

Zeke Miller and Josh Boak | Associated Press
March 31, 2022