The U.S. action, announced this week in coordination with countries such as India, the United Kingdom and China, is aimed at global energy markets and helping lower gasoline prices that have risen more than a dollar per gallon since January. But it could also undermine Biden’s climate goals, including a 50% cut in greenhouse gas emissions by 2030.
Some leading climate hawks, however, said they were not concerned by the move because they see it as a short-term fix to meet a specific problem. Sen. Ed Markey, D-Mass., who has focused on combating climate change, said Biden was “taking effective action to protect Americans from oil price gouging” even as the administration continues to boost renewable energy that it hopes will eventually mean less dependence on fossil fuels.
“This is what reserves are for — defending our economy against disruption, “Markey tweeted. “Profiteering can’t go unanswered, especially as Big Oil makes billions and fuels the climate crisis through exports.”
The Strategic Petroleum Reserve is an emergency stockpile to preserve access to oil in case of natural disasters, national security issues and other events. Maintained by the Energy Department, the reserves are stored in caverns created in salt domes along the Texas and Louisiana Gulf Coasts. There are roughly 605 million barrels of petroleum in the reserve.
Continue reading your story on the app
Continue reading your story in the magazine
GOLF GOES TO NETFLIX AND IT HAS COMPETITION FROM TENNIS
Formula One racing got a huge boost in interest in North America through the Netflix series “Drive to Survive.”
A DIGITAL DIVIDE HAUNTS SCHOOLS ADAPTING TO VIRUS HURDLES
When April Schneider’s children returned to in-person classrooms this year, she thought they were leaving behind the struggles from more than a year of remote learning.
THE HOTTEST CARS TO LOOK OUT FOR IN 2022
The chip and supply chain shortages of 2021 have been difficult for automakers and consumers alike.
GOP OHIO CONGRESSIONAL DELEGATION WANTS CHIP LAW FUNDED
GOP members of the Ohio congressional delegation asked House and Senate leaders to fully fund a law meant to address a global shortage of semiconductor chips used in phones, cars and video games.
EXPLAINER: MICROSOFT'S ACTIVISION BUY COULD SHAKE UP GAMING
Microsoft stunned the gaming industry when it announced this week it would buy game publisher Activision Blizzard for $68.7 billion, a deal that would immediately make it a larger video-game company than Nintendo.
iPad vs Mac
The ultimate devices for work from anywhere
MICROSOFT BUYS GAME MAKER ACTIVISION BLIZZARD FOR ABOUT $70B
Microsoft is paying nearly $70 billion for Activision Blizzard, the maker of Candy Crush and Call of Duty, to boost its competitiveness in mobile gaming and virtual-reality technology.
REPORT: MANDATORY OLYMPIC APP HAS SERIOUS SECURITY FLAWS
A smartphone app that athletes and others attending next month’s Winter Games in Beijing must install has glaring security problems that could expose sensitive data to interception, according to a report published this week.
TESLA INKS DEAL TO GET KEY BATTERY COMPONENT OUTSIDE CHINA
Tesla is turning to Mozambique for a key component in its electric car batteries in what analysts believe is a first-of-its-kind deal designed to reduce its dependence on China for graphite.
HOW NEW ROBIN HOOD CEO BUERY PLANS TO FIGHT NYC POVERTY
Richard R. Buery Jr., is starting his first full year as CEO of Robin Hood. But he’s no stranger to New York City’s largest poverty-fighting organization.
Hole in the Net
What good is a social safety net if the people who need help the most can’t access it?
THE CHRISTIAN PROPHETS WHO PREDICTED DONALD TRUMP WOULD BE REINSTATED AS PRESIDENT IN 2021 AREN'T READY TO ADMIT DEFEAT YET
BLUNDERING BIDEN'S DEADLY WEB OF LIES!
Joe conspiring to fool America with tall tales of conquering COVID
Biden's Year 2 Test
As the pandemic wears on and prices rise, many Americans are disillusioned with the president. Can he win them back?
Cyberwar at the White House
Anne Neuberger and the competition to set Biden’s cybersecurity agenda
BIDEN MILLIONS MADE IN THE SHADE!
Joe & family feast on get-rich-quick schemes & brazen influence peddling
Data-tracking failures at the CDC are fueling political support for an overhaul of the agency
Realtors Are Sorry About All the Discrimination
The National Association of Realtors wants to make amends. As long as it doesn’t have to talk about that 6% commission
BIDEN DELUSIONAL & SUFFERING DEMENTIA!
Experts warn president, 79, isn’t up to Oval Office job
January 6 Was Practice
Donald Trump is better positioned to subvert an election now than he was in 2020.