The Biden administration is hoping to bring down fuel prices with its latest move, and the Alabama Trucking Association (ATA) says it’s a step in the right direction.
BIRMINGHAM, Ala. - The Biden administration is hoping to bring down fuel prices with its latest move, and the Alabama Trucking Association says it’s a step in the right direction.Thursday to do that, which includes releasing one million barrels per day from the strategic reserves over the next six months. Biden says that could lower gas prices by “anything from 10-cents to 35-cents a gallon.
The latest high gas prices are impacting the trucking industry and the consumers. That’s because shipping costs to stores and restaurants will show up in the prices you pay. While it’s unknown exactly how much of an impact the president’s plan will have on fuel prices, Colson says its a good move. He says ATA has been on the frontlines advocating for domestic energy production, so they don’t have to rely on foreign oil.
“Hopefully it’s a step, one of many, towards energy independence in this country,” said Colson. “Obviously, those reserves are there for this reason. We need to utilize them in times of crisis. They also need to be, I think, just thankful that the trucking industry is gong to continue to do what it does every day and that’s deliver the goods so they can live their lives.”
President Biden is also calling on Congress to create financial penalties on oil and gas companies that lease public lands but are not producing oil from them.
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