US Considers Tapping Strategic Reserves as Oil Hits New HighsTHE US government yesterday revealed it was considering the unusual step of dipping into its strategic oil reserves as crude prices hit a fresh all-time high yesterday.
Biden has pointed to declining gas prices as a sign that his policies— including large releases from the nation’s strategic oil reserve — are helping lessen the higher costs that have hurt household finances, particularly for lower-income Americans and Black and Hispanic households. There are ...
US Seeks to Buy up to 3 Million Barrels for Oil Reserve for Jan Delivery More Reuters An oil storage tank and crude oil pipeline equipment is seen during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 20...
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In addition, the Federal Reserve’s preferred measure of inflation, the PCE deflator, came in at 2.1% year over year in September, almost hitting the Fed’s target. We expect inflation to continue falling into 2025. The potential tariffs and deportations, however, represent the biggest changes...
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“We are prepared to use every tool available to us to limit disruption to global energy supply as a result of [Russian] President [Vladimir] Putin’s actions,” White House spokeswoman Jen Psaki said in a statement.
"We will drill, baby, drill," Trump said,. "We will bring prices down, fill our strategic reserves up again right to the top, and export American energy all over the world."
With these geopolitical issues largely outside of the White House’s control, the Department of Energy has decided it will cancel the acquisition of 3 million barrels of oil meant to be delivered to the Strategic Petroleum Reserve (SPR) later this year. The administration has had to balance ...
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