Sen. Schumer: Biden must tap oil from National Reserve to ease gas prices

FILE - Senate Majority Leader Chuck Schumer of N.Y., appears at a news conference following a Democratic strategy meeting at the Capitol in Washington, on Oct. 26, 2021. Democrats’ $1.85 trillion package of social and climate initiatives seems afflicted by a maddening parade of hurdles. Looming ahead is the Congressional Budget Office, which could cause problems that would be messy but probably surmountable. (AP Photo/Andrew Harnik, File)

FILE – Senate Majority Leader Chuck Schumer of N.Y., appears at a news conference at the Capitol in Washington, on Oct. 26, 2021. (AP Photo/Andrew Harnik, File)

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UPDATED 11:46 AM PT – Monday, November 15, 2021

Senate Majority Leader Chuck Schumer (D-N.Y.) is sounding the alarm against Joe Biden’s energy policies, saying he must increase the supply of oil in America’s domestic market. On Sunday, the Democrat said gas prices are hurting millions of Americans and Biden must open up the national petroleum reserve.

“We’re here today because we need immediate relief at the gas pump and the place to look is the Strategic Petroleum Reserve,” stated the lawmaker. “So that’s why I’m urging the administration to tap that reserve, get the prices down.”

Those reserves were built up by 45th President Donald Trump who stockpiled millions of barrels of oil during a period of low prices. On the contrary, Biden restricted oil drilling and blocked Keystone XL pipeline earlier this year, resulting in an explosive growth of fuel prices and a surge in inflation.

With fuel prices skyrocketing nationwide, the cost of oil soared to over $80 a barrel back in October.

“Let me say what we all know: we’re all feeling the pain at the pump right now,” said Schumer. “Today, the national average for gasoline is$3.14 . It was $2.23 cents a year ago.”

Schumer noted that as the economy begins to recover from the coronavirus pandemic, “supply and demand cannot keep up with the global desire to return to normal,” especially with the holiday season closing in. The Democrat assessed that no industry is spared, but fuel gasoline is the worst of all.

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