With crude oil prices hitting five-year highs and gas at the pump following right along, consumers are wondering what’s next.
President Joe Biden has released 8% of the U.S. strategic petroleum reserves in an attempt to cool prices. But it has made little difference. The 50 million barrels set loose are only about half of a normal day’s flow in global markets. As large a player as the United States is, the global petroleum market is larger yet.
Stay informed.Stay ahead.
Join Washington Examiner for unlimited access to the news, analysis, and commentary that matter most.
See Options
Already a member? Log in
Already a print subscriber? Click here to login/register your account
