Biden taps US gas reserves as energy costs soar

President Joe Biden orders release of 50 million barrels from US oil reserves in a coordinated international bid to ease rising energy prices

Biden has scrambled to reshape much of his economic agenda around the issue of inflation, saying that his recently passed $1 trillion infrastructure package will reduce price pressures.

Tuesday's move is aimed at global energy markets, but also at helping Americans cope with higher inflation and rising prices ahead of Thanksgiving and winter holiday travel. "This coordinated action will help us deal with a lack of supply, which in turn helps ease prices," he said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

trtworld /  🏆 101. in US

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Beto O'Rourke declines to say if he wants Joe Biden to campaign for himThe gubernatorial candidate stressed Sunday his campaign is 'about the people of Texas' as Biden suffers in the polls.
Read more »

Joe Biden monitoring 'tragic' Waukesha parade incident, White House says'Our team is in close touch with local officials to offer any support and assistance needed,' White House press secretary Jen Psaki said.
Read more »

Joe Biden To Nominate Jerome Powell For New Term As Fed ChairPresident Joe Biden will nominate Jerome Powell for a new term as chairman of the Federal Reserve. Biden also will nominate Lael Brainard as vice chair. “While there’s still more to be done, …
Read more »

How popular is Joe Biden?Weekly opinion polls from The Economist and YouGov, tracking Joe Biden's approval ratings and the issues that are most important to voters
Read more »

Waukesha Parade Live Updates: President Biden addresses tragedy in WaukeshaWaukesha Police Chief Dan Thompson said he will recommend Darrell Brooks is charged with five counts of first-degree intentional homicide. More from our live blog:
Read more »

Gas prices dip before Thanksgiving, easing pressure on drivers and Joe BidenExperts predict that average U.S. gas prices could drop up to 30 cents per gallon over the next few weeks.
Read more »