Members of the Republican Party in the U.S. House of Representatives are to vote on a new bill that would prohibit the sale of oil from the Strategic Petroleum Reserve (SPR) without increasing drilling on federal lands. At the same time, the Senate, which is dominated by Democrats, is not expected to pass this legislation.
Democratic Party members argue that by restricting the use of the Strategic Reserve, Republicans will deprive the government of the possibility to use its resources in emergencies. It should be noted that in 2022, the reserve was used by President Biden after the surge in gasoline prices.
His actions were criticized by Republicans, who called it a ploy to lower gasoline prices on the eve of the midterm elections.
As it was said by Steve Scalise, House Majority Leader, Biden used the reserve as his own stash in an attempt to improve the Democratic Party's position in Congress.
Meanwhile, Energy Secretary Jennifer Granholm noted that the price of gasoline has dropped to $1.60 a gallon after hitting a high of $5 in the summer. She added that the president still can veto the law if Congress passes it.