U.S. President to unveil plan to lower oil prices, control inflation and support local oil drillers
The plan is aimed to increase enough oil supply within U.S. to prevent massive inflation, economic crisis and increase in energy prices.
WASHINGTON (The HQ News) – United States President Joe Biden will announce his govt.’s key plan on Wednesday for the utilization of country’s emergency oil reserve amidst the ongoing Russia-Ukraine conflict and Saudi govt.’s recent decision to decrease oil production.
The plan will include selling off the last portion of nation’s emergency oil reserve by year’s end and a strategy to store the oil reserve again when prices drop as per sources.
The plan is aimed to increase enough oil supply within U.S. to prevent massive inflation, economic crisis and increase in energy prices.