Cortez Masto called on the Biden Administration to release oil from the Strategic Petroleum Reserve (SPR) in a Senate Energy and Natural Resources Committee hearing last week.
Washington, D.C. – Today, U.S. Senator Catherine Cortez Masto (D-Nev.) sent a letter to President Joe Biden to commend him and his Administration’s decision to release crude oil from the nation’s Strategic Petroleum Reserve (SPR) to provide near-term relief for American families struggling with high gas prices ahead of the holiday season. She also urged the Administration to develop a long-term, government-wide strategy to lower gas prices for Nevadans and all Americans.
At last week’s Senate Committee on Energy and Natural Resources hearing, Cortez Masto called on the Biden Administration to release oil from the SPR. Following the hearing, the Senator spoke with Energy Secretary Granholm and personally advocated for the Administration to act and help lower prices for Nevada families.
“I write to you today to urge you to develop a long-term, coordinated strategy to address high gas prices in the State of Nevada and throughout the country. Rising gas prices are hurting Nevadans, and it is critical for the Administration to work to protect our workers, small businesses, and families,” wrote Senator Cortez Masto.
Cortez Masto urged the Administration to consider implementing a government-wide approach to further address current energy prices. She continued, “I appreciate your recent inquiry with the Federal Trade Commission (FTC) regarding the behavior of energy companies and ask for transparency and expediency throughout this process. I also encourage you to continue to consider implementing a government-wide approach to further address current energy prices, including efforts to address the Organization of the Petroleum Exporting Countries’ (OPEC) stronghold on global energy markets along with our international partners, and to effectively implement key provisions of the recently enacted Infrastructure Investment and Jobs Act as quickly as possible.”
According to the U.S. Energy Information Administration, gas prices are rising faster than any time since 2014. Prices per gallon in Nevada are higher than the national average by more than $0.50/gallon, according to data from AAA. These high prices stem from a multitude of factors, including the COVID-19 pandemic and extreme weather events.
The full text of the letter can be found here.