House Republicans passed a bill that aims to curb Biden’s ability to use the nation’s oil reserves. The bill was largely a messaging effort to rebuke the White House for using massive oil releases last year to tamp down runaway gasoline prices.
House Republicans passed a bill Friday that aims to curb President Joe Biden’s ability to tap the nation’s petroleum reserves, a bid by the chamber’s new majority to rebuke the White House for using massive oil releases last year to tamp down runaway gasoline prices.was largely a messaging effort by Republicans. The Democratically controlled Senate has no intention of taking it up and the White House has already vowed to veto the bill if it makes it to Biden’s desk.
The extensive floor time spent on the SPR bill — the second such measure passed by the House this month — “If there’s a hurricane that hits the Gulf [and] disrupts the oil markets, you’ve got oil there to make sure you can continue to flow oil to your refineries to keep the supply going. It’s not there to mask bad policies,” Majority Leaderhas proposed a plan for replenishing
Democrats said the GOP’s latest proposal would hamstring presidents from using the reserve in the event of an emergency that could drive up gas prices during a future oil shortage, arguing Biden appropriately and effectively used the SPR to tame high prices that worsened after Russia invaded Ukraine. The Treasury Departmentthat the Biden administration’s releases reduced gasoline prices by up to 40 cents per gallon.
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