Senate Majority Leader Chuck Schumer (D-N.Y.) urged the Biden administration on Sunday to make use of the Strategic Petroleum Reserve in order to curb increasing gasoline prices as Americans enter the holiday season. “COVID’s wreaked havoc on our supply chains. No industry is spared but fuel, gasoline is the worst of all. When fuel is in a crunch, everything dominoes. But we can put our finger on the scale with something called the SPR,” Schumer said at a news conference in New York, referring to the Strategic Petroleum Reserve. “We’re here today because we need immediate relief at the gas pump and the place to look is the Strategic Petroleum Reserve. It’s temporary but it has reduced prices significantly in the past, and it also says to the monopoly that controls oil, ‘Don’t mess around because we’re going to counter what you do.’” Last week, a group of 11 Senate …
Schumer Encourages Biden to Tap Petroleum Reserves to Control Surging Fuel Prices
November 15, 2021
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Brent crude oilBusiness & EconomyChuck Schumer (D-NY)EconomieseconomyOPEC oilStrategic Petroleum ReserveUS
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