President Joe Biden tried to deliver a Thanksgiving gift for US drivers on Tuesday, announcing the country’s largest-ever release of stored oil in a bid to drive down petrol prices.
It was a striking move for a leader who put climate change at the centre of his legislative plan, and as a candidate said the US must “transition from the oil industry”.
What was announced?
The US said it would release 50m barrels of oil from its roughly 600m-barrel Strategic Petroleum Reserve — an underground stockpile created in the wake of the 1970s oil crises.
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