The President points out that crude oil barrel prices are dropping as gas prices are rising…
As gas prices remain stubbornly high before the midterms, President Joe Biden will unveil actions Wednesday aimed at bringing down costs at the pump and expand the production of batteries for electric vehicles.
- Biden is set to announce he’s releasing 15 million barrels of oil from the nation’s emergency reserves, completing his March directive to release 180 million barrels over six months.
- Later in the afternoon, he will kick off the creation of a new federal government initiative to boost the production of criterial minerals used in batteries for electric vehicles and a range of other products such as laptops and smartphones.
Efforts come as Biden faces increasing pressure to find answers to lower gas prices that have flatted after decreasing over the late summer. It has strengthened headwinds for Democrats as they look to hold onto power of the Senate and House in next month’s midterm elections. …
More on Biden’s efforts to deal with the energy sector …