OIL ICYMI - US energy Secretary says Biden would veto House Republican bill on oil reserve<p>Energy Secretary Jennifer Granholm spoke on Monday, US time, at a White House press briefing. </p><p>In summary, via Reuters:</p><ul><li>President Joe Biden will veto a bill by U.S. House of Representatives Republicans on the Strategic Petroleum Reserve (SPR) if it passes Congress</li><li>The bill, called HR21, would prohibit the energy secretary from tapping the SPR without producing a plan to increase oil and gas leasing on federal lands - unless the release is for a severe oil supply emergency.</li><li>"He will not allow the American people to suffer because of the backwards agenda that House Republicans are advancing" Granholm, speaking to reporters at a White House briefing, said of Biden.</li></ul><p>Biden drew from the SPR multiple times to address high oil prices from H1 last year:</p>
This article was written by Eamonn Sheridan at www.forexlive.com.
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