Biden Announces Historic Oil Release From Strategic Reserve

Biden Announces Historic Oil Release From Strategic Reserve

Biden Announces Historic Oil Release , From Strategic Reserve.

NPR reports President Joe Biden has ordered a never-before-seen release of oil from the United States' stockpile.

NPR reports President Joe Biden has ordered a never-before-seen release of oil from the United States' stockpile.

He's also moving forward to punish oil conglomerates who haven't increased output on unused leases on federal land.

Biden hopes these steps will help to lower gas prices in America.

Officials say this will be the largest release of oil reserves in the history of the United States.

After consultation with allies and partners, the president will announce the largest release of oil reserves in history, , White House, via statement.

After consultation with allies and partners, the president will announce the largest release of oil reserves in history, , White House, via statement.

... putting one million additional barrels on the market per day on average -- every day -- for the next six months.

, White House, via statement.

... putting one million additional barrels on the market per day on average -- every day -- for the next six months.

, White House, via statement.

Biden says lawmakers must "make companies pay fees on wells from their leases that they haven't used in years and on acres of public lands that they are hoarding without producing.".

Biden says lawmakers must "make companies pay fees on wells from their leases that they haven't used in years and on acres of public lands that they are hoarding without producing.".

Companies that are producing from their leased acres and existing wells will not face higher fees, , Via White House fact sheet, as reported by CNN.

... but companies that continue to sit on non-producing acres will have to choose whether to start producing or pay a fee for each idled well and unused acre.

, Via White House fact sheet, as reported by CNN.

... but companies that continue to sit on non-producing acres will have to choose whether to start producing or pay a fee for each idled well and unused acre.

, Via White House fact sheet, as reported by CNN.

As the price of gasoline in the United States continues to soar, experts say there isn't much more Biden can do.

As the price of gasoline in the United States continues to soar, experts say there isn't much more Biden can do