Biden spurs record emergency oil release in 'moment of peril' for world | Reuters

WASHINGTON, March 31 (Reuters) - President Joe Biden on Thursday launched the largest release ever from the U.S. emergency oil reserve and challenged oil companies to drill more in an attempt to bring down gasoline prices that have soared during Russia's war with Ukraine. The announcement comes as part of a broad effort by Biden to tackle raging inflation that has hurt U.S. consumers and threatens Biden's fellow Democrats as they seek to maintain control of Congress in the November elections. Starting in May, the United States will release 1 million barrels per day (bpd) of crude oil for six months from the Strategic Petroleum Reserve (SPR), he said. "This is a moment of consequence and peril for the world, and pain at the pump for American families,” Biden said at an event at the White House. "It's also a moment of patriotism," Biden said, as he asked oil company executives to serve their customers and American families, instead of the investors they have rewarded with billions of dol

WASHINGTON, March 31 (Reuters) - President Joe Biden on Thursday launched the largest release ever from the U.S. emergency oil reserve and challenged oil companies to drill more in an attempt to bring down gasoline prices that have soared during Russia's war with Ukraine. The announcement comes as part of a broad effort by Biden to tackle raging inflation that has hurt U.S. consumers and threatens Biden's fellow Democrats as they seek to maintain control of Congress in the November elections. Starting in May, the United States will release 1 million barrels per day (bpd) of crude oil for six m