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In remarks on the House floor Thursday, Rep. Frank Pallone (D-NJ) shot back at Rep. Marjorie Taylor Greene (R-GA) over her energy amendment.

Fox News host Tucker Carlson weighs in on the energy crisis stemming from the Russia-Ukraine war on 'Tucker Carlson Tonight.' #FoxNews #tucker

When things are bad, it’s Putin’s fault. “I have been doing everything in my power to reduce gas prices since Putin’s invasion of Ukraine caused prices to spike,” Biden said. ....snip..... Biden also absurdly claimed he will be refilling the oil reserve at $70 a barrel to make money. “By selling from the [oil reserve] at the higher price of $90 earlier this year and then re-filling it in the future at a lower price around $70 will actually make money,” said Biden. Just two years ago the Democrats blocked President Trump from filling the Strategic Oil Reserves at $24...

Senate Democrats say they were able to eliminate a “bailout for Big Oil” to help secure a bipartisan agreement on a $2 trillion coronavirus economic relief package Wednesday. Democratic leader Chuck Schumer released a summary of the agreement that says it no longer contains $3 billion to fulfill President Trump’s order to buy low-priced oil to restock the nation’s emergency Strategic Petroleum Reserve.

Transportation Secretary Pete Buttigieg said Wednesday on MSNBC’s “The 11th Hour” that to combat oil prices skyrocketing amid the Russian invasion of Ukraine, President Joe Biden did not want to authorize the Keystone Pipeline. According to Buttigieg, it would be “galloping after permanent solutions to immediate short term problems.” Anchor Stephanie Ruhle said, “I want to stay on gas for another moment. You’re absolutely right, the president does not set the price of gas, but he can influence it. And while releasing some strategic reserves matters, given how much has been released, it is really just a drop in the...

Energy Secretary Jennifer Granholm (D) said Sunday that President Biden is considering tapping into the nation’s Strategic Petroleum Reserve amid rising crude oil prices. During an appearance on CNN’s “State of the Union,” Granholm told host Dana Bash that Biden is looking at every tool at his disposal to address high gas prices in the U.S. Granholm noted that Biden had already asked the Organization of the Petroleum Exporting Countries to increase supply, but it declined.

Some 10 million barrels of crude from the U.S.’s strategic reserve are scheduled to be sold later this month, the Department of Energy said. The shipment is part of a total 25 million barrels, to be sold over a period of three years, as per the 21st Century Cures Act, signed in December last year. Sales from the SPR are conducted, according to the DoE, to “respond to a severe energy supply interruption, to prevent or address lesser supply shortages or to conduct evaluations of drawdown and sales procedures.” The Department added that the bidding is open to all companies...

NEW YORK (AP) — The U.S. has so much crude that it is running out of places to put it, and that could drive oil and gasoline prices even lower in the coming months. For the past seven weeks, the United States has been producing and importing an average of 1 million more barrels of oil every day than it is consuming. That extra crude is flowing into storage tanks, especially at the country's main trading hub in Cushing, Oklahoma, pushing U.S. supplies to their highest point in at least 80 years, the Energy Department reported last week.

US Faces Stiff Opposition to Oil Release For Political Gain Published: Saturday, 18 Aug 2012 | 5:27 AM ET President Barack Obama faced stiff resistance to the possibility of releasing emergency oil reserves to quell rising energy prices on Friday, with Asian allies and the head of the West's energy agency rejecting any need for action now. A day after Reuters reported that the White House was "dusting off" plans for potentially tapping the Strategic Petroleum Reserve, the executive director of the International Energy Agency, Maria van der Hoeven, was blunt in her assessment: "There is no reason for a...

I do not believe that we should use the strategic oil reserves at this point. I have said and, in fact, supported a congressional resolution that said that we should suspend putting more oil into the strategic oil reserve, but the strategic oil reserve, I think, has to be reserved for a genuine emergency. You have a situation, let’s say, where there was a major oil facility in Saudi Arabia that was destroyed as a consequence of terrorist acts, and you suddenly had huge amounts of oil taken out of the world market, we wouldn’t just be seeing $4-a-gallon oil....

US commodity regulators were examining Friday whether word of a decision to coordinate a release of global oil stockpiles was leaked ahead of Thursday's announcement by the International Energy Agency, a person familiar with the matter said. Officials with the Commodity Futures Trading Commission as well as market participants have pointed to unusual trading in the oil futures market before the IEA's announcement that it would release 60 million barrels of oil, the person said. Member countries of the IEA agreed to take two million barrels of oil a day from their emergency stocks over the coming months, marking the...

IEA asks for release of emergency oil reserves NHK has learned that the International Energy Agency is finalizing talks to release emergency oil reserves of its oil-consuming member nations to help stabilize crude oil prices. The autonomous organization of 28 major oil consuming countries, including Japan and the United States, is said to be close to securing agreement for the coordinated operation. The release operation, the first of its kind since 2005, is being planned ahead of an expected rise in gasoline use in the northern hemisphere during the summer holiday season. Rising crude oil prices since January, due mainly...

China on buying spreeJohn Garnaut, Beijing May 14, 2009 CHINA has shifted from merely the fastest-growing consumer to the biggest buyer by far of Australia’s key metals since the start of the financial crisis. China set import records in April for copper, aluminium, zinc, nickel and iron ore, in each case beating the previous record, set in March. The unprecedented Chinese buying spree, at a time when the rest of the world is shutting down, has caused metals analysts to dust off the belief that the Chinese economy can grow strongly without help from the United States. "Decoupling is alive...

Barack Obama on 7/7/08 (much more recent than the 2005 comments): "I do not believe that we should use the strategic oil reserves at this point. I have said and, in fact, supported a congressional resolution that said that we should suspend putting more oil into the strategic oil reserve, but the strategic oil reserve, I think, has to be reserved for a genuine emergency. You have a situation, let's say, where there was a major oil facility in Saudi Arabia that was destroyed as a consequence of terrorist acts, and you suddenly had huge amounts of oil taken out...

Barack Obama is proposing tapping the nation's strategic oil reserves to help drive down gasoline prices, his campaign said Monday. Obama supports releasing light oil from the emergency oil stockpile now and replacing it later with heavier crude more suited to the country's long-term needs, according to a campaign fact sheet. Light crude oil is easier to refine into gasoline than heavier oil. Also on Monday, the Obama campaign unveiled a television ad that criticizes Republican John McCain's energy policies. "After one president in the pocket of big oil we can't afford another," says the ad, referring to President Bush's...

“The Democratic leaders in Congress will not allow us to explore for oil and gas in parts of Alaska, offshore America, and now is the time for them to change their mind,” President Bush said at the conclusion of the G-8 summit in Japan on Wednesday. Bush, in his concluding statement on the summit, said he firmly believes that oil exploration can be done in “environmentally friendly ways.” High energy prices were among the major topics of discussion at the summit of the world’s leading industrialized nations. According to President Bush, the G-8 leaders agreed that to bring oil prices...

US will stop sending oil into strategic reserves By H. JOSEF HEBERT, Associated Press Writer 16 minutes ago The Energy Department says it has canceled oil shipments into the Strategic Petroleum Reserve beginning in July when the current purchase contract expires. The move came days after Congress passed legislation requiring the president to suspend the shipment into the reserve in hopes of lowering gasoline prices. The Energy Department said it will not sign contracts for new shipments of 76,000 barrels of oil a day for the six-month period beginning July 1. President Bush had opposed halting the shipments, arguing that...

WASHINGTON (Reuters) - President Bush will direct the U.S. Energy Department on Tuesday to temporarily halt deliveries of oil to a strategic reserve in order to get more fuel on the market and help reduce rising gasoline prices, a senior administration official said. The official said Bush in a morning energy speech, will tell the Energy Department to suspend deliveries this summer while supplies are tight "and defer the deposits until the fall, and then you have more oil on the market."

NEW YORK (Reuters) - U.S. commercial crude supplies shot to the highest level in nearly seven years last week on sluggish refinery use and high imports, the government said on Wednesday. U.S. oil stocks jumped 6.8 million barrels in the week ended March 3 to 335.1 million barrels, or 10 percent higher than last year, according to the Energy Information Administration (EIA), the statistical arm of the Department of Energy. "The crude build is huge," said Jason Schenker, an economist at Wachovia Bank in Charlotte, North Carolina. Oil futures on the New York Mercantile Exchange fell more than $1.00 after...

U.S. President George Bush said Monday he will release supplies from the nation's strategic oil reserve to deal with hurricane-related fuel shortfalls. Speaking at the Department of Energy, Bush said Hurricane Rita's strike Saturday missed much of refining capacity along the Texas coast, but that the effect of it following last month's Hurricane Katrina was bound to affect supply. There was about 5.4 million barrels per day that were shut in as a result of Rita and Katrina, Bush said. A million of it is back up already, and we expect another 1.8 million barrels a day to get back...