State of the Union 2022

Biden Announces Oil Reserve Release

State of the Union
Jabin Botsford, Pool via AP

To reassure Americans worried about the rising cost of gas, Biden announced the release of 60 million barrels of oil from reserves worldwide.

"America will lead that effort, releasing 30 million barrels from our own strategic petroleum reserve," he said. "And we stand ready to do more if necessary, unified with our allies."

"These steps will help blunt gas prices here at home," he said.

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