Manchin says US releasing 50 million barrels of oil to lower gas prices is a ‘Band-Aid’

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Sen. Joe Manchin, D-W.Va., speaks with reporters during a news conference on Capitol Hill, Monday, Nov. 1, 2021 in Washington. (AP Photo/Alex Brandon)

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December 25 2021 12:00 am

President Joe Biden on Tuesday ordered 50 million barrels of oil released from the strategic reserve to help bring down energy costs, in coordination with other major energy-consuming nations, including China, India, and the United Kingdom.

U.S. Senator Joe Manchin issued the following statement on President Biden’s decision to release 50 million barrels of oil from the Strategic Petroleum Reserve in an effort to lower gas prices.

“Today’s release from the Strategic Petroleum Reserve is an important policy Band-Aid for rising gas prices but does not solve for the self-inflicted wound that shortsighted energy policy is having on our nation. With an energy transition underway across the country, it is critical that Washington does not jeopardize America’s energy security in the near term and leave consumers vulnerable to rising prices. Historic inflation taxes and the lack of a comprehensive all-of-the-above energy policy pose a clear and present threat to American’s economic and energy security that can no longer be ignored. I continue to call on President Biden to responsibly increase energy production here at home and to reverse course to allow the Keystone XL pipeline to be built which would have provided our country with up to 900,000 barrels of oil per day from Canada, one of our closest allies. To be clear, this is about American energy independence and the fact that hard working Americans should not depend on foreign actors, like OPEC+, for our energy security and instead focus on the real challenges facing our country’s future.”

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