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Biden taps into U.S. strategic petroleum reserve to lower cost of gas

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President Joe Biden has authorized release from the strategic petroleum reserve of the United States of America (USA) in order to lower the cost of gas in his country.

TheNewsGuru.com (TNG) reports Biden authorized the Department of Energy to make available releases of 50 million barrels of oil from the Strategic Petroleum Reserve to lower gas and oil prices for Americans.

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“Today I’m announcing action to lower the cost of gas and oil for American families. The Department of Energy will make available releases of 50 million barrels of oil from the Strategic Petroleum Reserve to lower gas and oil prices for Americans.

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“I have been working with countries across the world to address the lack of supply. As a result of our diplomatic efforts, this step will be taken in parallel with other major energy consuming nations including China, India, Japan, Republic of Korea and the United Kingdom,” Biden said.

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Facing rising consumer discontent ahead of Americans hitting the road for the Thanksgiving holiday, Biden called it the “largest-ever release” when announcing the action in remarks on Tuesday.

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