Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Information Minister in Pakistani-administered Kashmir: Five civilians killed and at least 29 others injured in shelling across the border with India
Israeli Army Radio's diplomatic correspondent quoted a senior Israeli official as saying: So he [Trump] decided to cut off contact. That might still change, but that’s the situation right now
Israeli Army Radio's diplomatic correspondent quoted a senior Israeli official as saying: Trump’s circle told him [Dermer] that Netanyahu was manipulating him, and there’s nothing Trump hates more than being portrayed as someone being played
Senior Palestinian official to Al Mayadeen: Meetings between the Israelis, Egyptians, and Qataris are all centered around the Israeli proposal, which does not guarantee an end to the war [on Gaza]
Senior Palestinian official to Al Mayadeen: “Israel” is threatening to expand the ground offensive if Hamas rejects the proposal
Senior Palestinian official to Al Mayadeen: Hamas rejects the Israeli proposal, viewing it as failing to guarantee an end to the war
Senior Palestinian official to Al Mayadeen: “Israel” is sticking to its proposal, and insists there is no alternative offer on the table for negotiation
Senior Palestinian official to Al Mayadeen: The meetings between the Israelis and the Egyptians and Qataris all revolve around the Israeli proposal
The administration was clearly looking for an off-ramp for this campaign against Ansar Allah, NBC News reports, citing US official
Trump's operation against Ansar Allah cost more than $1 billion, NBC News reports, citing US official

Biden told his team to prepare for future releases of petrol reserves

  • By Al Mayadeen English
  • Source: Agencies
  • 19 Oct 2022 23:27
3 Min Read

In the face of such a decision, the future of the US economy remains uncertain.

  • x
  • Biden Says Told Team to Prepare for Strategic Petroleum Reserve Releas
    Biden Says Told Team to Prepare for Strategic Petroleum Reserve Releas

US President Joe Biden on Monday said he informed his team to be ready for potential future releases from the national Strategic Petroleum Reserve (SPR) in the coming months ahead for the administration to alleviate soaring oil prices. 
 
"Independent analysts have confirmed that drawdowns from the reserve so far have played a big role in bringing down oil prices. So, we’re going to continue the responsible use of that national asset," Biden said during remarks on lowering gas prices.

"I’ve told my team to be prepared to look for further releases in the months ahead if needed. We’re calling it a ‘ready and release’ plan." 
 
Biden further added that this strategy is intended to prevent oil price spikes and respond to international events. 

When asked whether the decision to release additional oil from the strategic petroleum reserve was politically motivated, Biden responded "No it's not."

"It is making sure there's enough oil that's been pumped by the companies so that we have the ability to be able to produce enough gas that we need here at home, oil we need here at home," he added.

Biden further stressed that "We need to responsibly increase American oil production without delaying or deferring our transition to clean energy."

"You can increase oil and gas production now while still moving full speed ahead to accelerate our transition to clean energy." 
 
The US president said he urged Congress to pass a bill reforming energy production so that energy costs can be alleviated. 
 
He further stated that there are plans to continue resorting to the national Strategic Petroleum Reserve in order to offset larger fluctuations in oil prices, and called on companies to pass savings to consumers.

Read more: WH considers recommending US firms of pulling out from Saudi Arabia

Yesterday, the White House announced that the Energy Department issued a Notice of Sale for 15 million barrels from the Strategic Petroleum Reserve (SPR) to be drawed in December.

The new tranche of oil from the Strategic Petroleum Reserve will be "completing the 180 million barrel release authorized in the spring," in response to price hikes linked to Russia's military operation in Ukraine, a senior US official said Tuesday.

According to a person familiar with White House talks, Biden is looking to lower gas costs before the upcoming midterm elections. "The administration has a small window ahead of midterms to try to lower fuel prices, or at least demonstrate that they are trying," the unnamed source said.

"The White House did not like $4 a gallon gas and it has signaled that it will take action to prevent that again," they added. 

Earlier today, a Bloomberg Economics model forecasted that a recession in the US is effectively certain within the next twelve months, during which it will hit a downturn reaching 100% in October 2023 compared to 65% within a comparable period during the 12-month estimate.

Read more: US industries losing battle against their own currency - WSJ

  • strategic oil reserves
  • US
  • Biden
  • Oil reserves
  • Biden's administration
  • white house

Most Read

Pro-Palestinian protesters march toward the US Immigration and Customs Enforcement (ICE) headquarters, Saturday, April 5, 2025, in Washington (AP)

US House to vote on bill criminalizing boycott of 'Israel'

  • Politics
  • 3 May 2025
Throughout Operation Prosperity Guardian, current and former US military and intelligence officials expressed disquiet at the enormous “cost offset” involved in battling Ansar Allah. (Al Mayadeen English; Illustrated by Zeinab El-Hajj)

Ansar Allah triumphant: US facing Red Sea defeat again

  • Opinion
  • 3 May 2025
Pakistan downs an Indian jet and hits a military base in Kashmir escalation.

Pakistan downs 3 Indian jets, hits military base in Kashmir escalation

  • Politics
  • 7 May 2025
Trump cut off contact with Netanyahu, senior Israeli official says

Trump cut off contact with Netanyahu: Israeli media

  • US & Canada
  • Today

Coverage

All
Gaza prevails against genocide

Read Next

All
UN experts warn: Stop the genocide or witness Gaza's end
Politics

Stop the genocide or witness end of life in Gaza: UN experts warn

Israeli police attack mourners as they carry the casket of killed Al Jazeera veteran journalist Shireen Abu Akleh during her funeral in occupied al-Quds, Friday, May 13, 2022. (AP)
Politics

Israeli sniper who killed journalist Shireen Abu Akleh identified

The Department of Defense logo is seen on the wall in the Press Briefing room at the Pentagon, Oct. 29, 2024, in Washington. (AP)
Politics

Pentagon’s unused properties drain billions in taxpayer funds

Haaretz
Palestine

Israeli military avoids calling up unwilling reservists: Haaretz

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS