In a recent move to combat rising gasoline prices, the Biden administration has announced the release of one million barrels of gasoline from a northeast gasoline supply reserve. The decision is a short-term political ploy by the Biden administration to alleviate costs for American consumers heading into Memorial Day.
This release from the reserve, is strategically timed between Memorial Day and July 4th, is intended to ensure a sufficient supply of gasoline during a peak demand period. Americans are feeling the pinch at the pump, and in their energy bills, and combine that with overall inflation and increased cost of borrowing, one can understand that some relief, even temporary is a good thing. However, opponents of this policy by the Biden Administration would be right to call out the politically expedient maneuver aimed at gaining favor in an election year rather than a sustainable solution to the underlying issues plaguing the energy sector and the cost at the pump.
Since taking office, President Biden has implemented over 170 regulatory actions that have made producing and delivering American energy more difficult and costly. These actions include banning liquefied natural gas (LNG) exports, canceling the Keystone XL pipeline project—which eliminated approximately 11,000 potential jobs—and severely limiting offshore oil development in the Gulf of Mexico. Additionally, the administration has advanced regulations to end drilling on federal lands, canceled leases in the Alaska National Wildlife Refuge, and reduced access to the National Petroleum Reserve in Alaska.
The consequences of these policies have been costly to the American people. By hindering domestic energy production, the administration has contributed to higher energy costs and increased dependence on foreign oil. The decision to deplete the northeast gasoline reserve is particularly troubling as it diminishes a critical buffer that is meant to be used in genuine emergencies, not as a stopgap measure for a politically induced crisis.
The cost at the pump did not have to be this way. These were choices made by the Biden administration. Voters remember gas prices under Trump and can compare them to cost under Biden. The graph from Yahoo Finance, is a visual representation of that.
The administration’s efforts to lower gasoline prices by releasing reserves are seen by many as a temporary fix that does not address the root causes of the problem. The increased regulatory burden on the energy sector has constrained supply and driven up costs, contributing to the current inflationary pressures that are impacting the broader economy.
The decision to release one million barrels of gasoline from the northeast reserve reflects a reactive rather than proactive approach to energy policy. It highlights the administration’s failure to balance environmental goals with the immediate needs of the American people. Instead of depleting reserves and imposing restrictive regulations, a more balanced and strategic energy policy is needed—one that supports domestic production, ensures energy security, and promotes economic growth while gradually transitioning to a more sustainable energy future.