ICYMI: BIDEN STRENGTHENING ENERGY SECURITY, LOWERING COSTS

In Case You Missed It — President Biden delivered remarks today and detailed the actions his administration is taking to lower energy costs and boost American energy security. To lower gasoline costs for Americans, the President announced the sale of 15 million barrels of oil from the nation’s Strategic Petroleum Reserve.

The announcement builds on President Biden’s Inflation Reduction Act, which takes a number of steps to bring down the cost of necessities and save families money on prescription drugs, health care, and energy.

READ COVERAGE FROM NBC NEWS HERE

KEY POINTS: 

  • President Joe Biden on Wednesday announced he would authorize the sale of more oil from the nation’s Strategic Petroleum Reserve as his administration scrambles to rein in high gas prices ahead of the midterm elections.

  • Speaking at the White House, Biden said the Department of Energy would sell the remaining 15 million barrels of the 180 million barrels authorized for sale in March — a move that the president argued would help drive down the price of gas and give families a bit of “breathing room.”

  • “I have been doing everything in my power to reduce gas prices since Putin’s invasion of Ukraine caused these prices to spike and rattled international oil markets,” Biden said.

  • “You can increase oil and gas production now while still moving full speed ahead to accelerate our transition to clean energy. That way we can lower energy costs for American families and enhance our national security at a very difficult moment,” Biden said.

About Invest in America

Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.

The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.

Learn more at InvestInAmericaNow.com and @InvestNowUSA, and InvestinAmericaProject.com.

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