Decline in diesel inventories causes concern.
The next step for President Joe Biden in mitigating the damage of supply shortages and rampant inflation could be tapping into the strategic diesel fuel reserve. The administration is in talks to release the diesel fuel, after receiving a recommendation from a team of advisers monitoring East Coast diesel supply.
Calling current conditions “worrisome,” the advisory panel stated, “The team has prepared emergency declarations for [the] president to authorize release from the Northeast Home Heating Oil Reserve if conditions deteriorate. We would call this a bridge to deal with short term supply shortfalls.”
Northeast Home Heating Oil Reserve holds about 1 million barrels of home heating oil since it was created in 2000. The relatively small size of the reserve would provide one day’s supply for the region, according to the White House.
The only time it was tapped was during President Obama’s administration in 2012 after Hurricane Sandy battered the East Coast.
As the Lord Leads, Pray with Us…
- For the president and his administration as their commitment to climate and energy policies continues.
- For federal legislators as they deliberate ways to address inflation and the rising price of fuel.
- That the president and his advisors would seek God’s direction in managing domestic resources.
Sources: CNN, Newsmax
