The U.S. action, announced Tuesday in coordination with countries such as India, the United Kingdom and China, is aimed at global energy markets and helping lower gasoline prices that have risen more than a dollar per gallon since January. But it could also undermine Biden’s climate goals, including a 50% cut in greenhouse gas emissions by 2030.
Some leading climate hawks, however, said they were not concerned by the move.
Sen. Ed Markey, D-Mass., who has focused on combating climate change, said Biden was “taking effective action to protect Americans from oil price gouging” even as the administration continues to boost renewable energy that it hopes will eventually mean less dependence on fossil fuels.
Markey and other Democrats had urged Biden to release oil from the reserve to ease prices on consumers.
There have also been calls on the president to reinstate a ban on crude oil exports that was lifted in 2015.
Biden has authority under the legislation to declare an emergency and limit or stop oil exports for up to a year but is not expected to do so.
Some leading climate hawks, however, said they were not concerned by the move.
Sen. Ed Markey, D-Mass., who has focused on combating climate change, said Biden was “taking effective action to protect Americans from oil price gouging” even as the administration continues to boost renewable energy that it hopes will eventually mean less dependence on fossil fuels.
Markey and other Democrats had urged Biden to release oil from the reserve to ease prices on consumers.
There have also been calls on the president to reinstate a ban on crude oil exports that was lifted in 2015.
Biden has authority under the legislation to declare an emergency and limit or stop oil exports for up to a year but is not expected to do so.