Posted by on November 23, 2021 9:02 pm
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Categories: Breaking News Epoch Times News

Trump, Graham Decry Biden Plan to Tap Strategic Petroleum Reserve

Former President Donald Trump and Sen. Lindsey Graham (R-S.C.) decried President Joe Biden for his decision to pull from the Strategic Petroleum Reserve (SPR) amid skyrocketing energy costs. The announcement, made in a White House press release, comes as the United States faces unprecedented inflation, which has had the most notable effect on the energy sector. According to the Labor Department’s Consumer Price Index (CPI), October saw a 30 percent increase in the price of all sources of energy while the price of gasoline itself increased by a staggering 49.6 percent. Democrats and Republicans are divided on the reasons for these increasing prices. Democrats have blamed collusion by the Organization of Petroleum Exporting Countries (OPEC), who have reduced fuel production over the past several months in order to raise prices. Biden has undertaken extensive negotiations with the organization, but these have largely been fruitless. Republicans, while agreeing that OPEC has played …

Originally appeared on The Epoch Times

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