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Biden Taps Reserves (Again) to Try to Lower Prices at the Pump

AP Photo/Jeff Chiu

Remember when gasoline prices spiked after President Joe Biden was inaugurated and shut down everything that had made America energy-independent? Biden called it the "Putin Price Hike" and his supporters assured us that the president had no control over gasoline prices … until they started coming back down. Then he got the credit. 

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Biden tapped the Strategic Petroleum Reserve, dropping it to its lowest level in 40 years. Karine Jean-Pierre had no answer this April when asked about the administration's plan to refill the reserve, except that it was too expensive at the moment.

The Associated Press is reporting Tuesday that the Biden administration plans to release one million barrels of gasoline "in a bid to lower prices at the pump."

That's as good as his last plan, which was to demand that gas stations stop price gouging.

Matthew Daly reports:

The Biden administration said Tuesday it is releasing 1 million barrels of gasoline from a Northeast reserve established after Superstorm Sandy in a bid to lower prices at the pump this summer.

The sale, from storage sites in New Jersey and Maine, will be allocated in increments of 100,000 barrels at a time. The approach will create a competitive bidding process that ensures gasoline can flow into local retailers ahead of the July 4 holiday and sold at competitive prices, the Energy Department said.

The Energy Department said the sale of 1 million barrels, about 42 million gallons, was timed to provide relief for motorists as the summer driving season begins.

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Biden does know this will do nothing at all to reduce costs, right?

Three hours tops … more like 45 minutes.

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When Biden promised on the campaign trail to end fossil fuels, we didn't know he meant to use them all up.

How is a few hours' worth of gasoline supposed to lower prices at the pump?

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