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Following Push from Senator Hassan, Administration to Release Oil from Strategic Petroleum Reserve

Releasing Oil is One Step to Lower Gas Prices

WASHINGTON – Following a bipartisan push led by U.S. Senator Maggie Hassan (D-NH) calling on the Biden administration to help lower energy costs for New Englanders – including releasing oil from the Strategic Petroleum Reserve – President Biden announced today that the administration will release fuel from this reserve.

 

“Granite Staters are already struggling with rising fuel costs, which is why I called on the President to act,” said Senator Hassan. “Today’s announcement is one step to help more Granite Staters afford fuel for their cars and their homes, and I will continue to push the administration to do everything in its power to help address this urgent issue.”

 

In October, Senator Hassan, Susan Collins (R-ME), and Jack Reed (D-RI) led New England Senators in calling on the Biden administration to take steps, including utilizing stock from the Strategic Petroleum Reserve, to reduce energy costs for New Englanders. You can read their letter here

 

The push to increase domestic energy supplies is one way that Senator Hassan is working to help New Hampshire families with their heating costs. Following a push from Senator Hassan and colleagues, the administration recently released $25 million in Low-Income Home Energy Assistance Program funding to New Hampshire. Earlier this year, Senators Hassan and Collins also reintroduced the bipartisan Home Energy Savings Act to help lower energy costs for families and reduce carbon emissions by expanding and extending a tax credit for energy efficient home upgrades. 

 

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