Biden announces "historic" oil reserve release amid elevated gas prices

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Biden announces "historic" oil reserve release amid elevated gas prices

STORY: Biden announces "historic" oil reserve release amid elevated gas prices DATELINE: April 1, 2022 LENGTH: 00:01:54 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE (English): JOE BIDEN, U.S. President STORYLINE: U.S. President Joe Biden on Thursday announced that his administration will release one million barrels of oil per day for the next six months from its strategic reserve in an effort to tame the elevated gas prices. The authorization of releasing over 180 million barrels from the U.S. Strategic Petroleum Reserve is the "largest" release from national reserve in U.S. history, Biden said in a speech from the Eisenhower Executive Office Building. SOUNDBITE (English): JOE BIDEN, U.S. President "As Russian oil comes off the global market, supply of oil drops and prices are rising. Look, I'm a capitalist. I have no problem with corporations turning a good profit. But companies have an obligation that goes beyond just their shareholders: to their customers, their communities,

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