The US government allowed ExxonMobil to exploit the strategic oil reserves to replace gasoline production in Louisiana, after Hurricane Ida destroyed much of the state’s refining and oil production.
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And the website of the Al-Sharq channel Bloomberg stated, that it stipulates that the company obtain 1.5 million barrels of crude oil from government emergency stocks, after President Joe Biden said, yesterday, Thursday, that the United States will use all available capabilities at its disposal in order to provide gasoline and relieve pressure on Prices at petrol stations.
“This is the first such use of the Strategic Reserve in 4 years, and underscores the President’s use of all of his available powers to promote an effective response and recovery in the region,” the White House said in a statement.
More than 90% of oil production continues to be suspended in the Gulf of Mexico 4 days after Hurricane Ida swept the region with winds of up to 150 miles per hour, as many refineries that represent about a fifth of the crude oil processing capacity in America are located. It left Louisiana running out of fuel, hampering relief efforts, and driving up gasoline prices across the country.
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