UPDATED 10:55 AM PT – Friday, April 1, 2022
Joe Biden announced he will tap U.S. oil reserves again for the 3rd time in less than a year. The administration will release 1 million barrels of oil a day from the National Petroleum Reserve in an effort to lower gas prices. The U.S. Energy Information Administration said the U.S. uses about 20 million barrels of oil a day, so releasing 1 million barrels a day is about 5 percent of what we consume.
Economic expert and CEO of Opimas, Octavio Marenzi joined OAN’s Alicia Summers to discuss what impact, if any, this will have on gas prices and the economy.