Senate urged Biden to ban oil exports

Senate urged Biden to ban oil exports

Eleven Democratic senators wrote a letter to U.S. President Joe Biden calling for a moratorium on oil exports and to use the strategic reserve to stabilize fuel prices on the domestic market. They cited expert data showing that gasoline in the U.S. has not cost this much since 2014.

“We ask you to consider all the tools available to reduce gasoline prices in the United States. This includes using the strategic oil reserve and a ban on oil exports. We hope you will explore the use of these and other measures to make gasoline more affordable for all Americans,” the message reads.

The senators blamed the crisis on OPEC, which, they said, “deliberately manipulates prices by restricting supply” and on U.S. oil producers who continue to supply foreign markets.

The White House also blamed OPEC, which remained indifferent to the calls to increase production, for the rising gasoline prices, but has not yet decided what means will be used to solve the problem.

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