It's the latest of several attempts by the Biden administration to try and tame gas prices via the SPR.
and during a campaign season in which elevated pump prices — while far lower than their June peak — likely pose political jeopardy for Democrats.The administration is calling on the Department of Energy to be ready to move forward with additional significant SPR sales this winter if needed due to Russian or other actions disrupting global markets.
This would occur "if needed due to Russian or other actions disrupting global markets," a White House summary states.Biden will also announce that the administration intends to repurchase crude oil for the SPR when prices are at or below about $67-$72 per barrel. is the latest of several attempts by the Biden administration to try and tame gas prices via the SPR.
The coalition's move angered the White House, which had appealed to Saudi Arabia — OPEC's dominant producer — not to slash output. The White House says it's now reevaluating its relationship with the kingdom.
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