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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessBiden Announces "Three Critical Steps To Reduce Gas Prices At The Pump"
US President Joe Biden has outlined three steps that the Biden administration is taking to reduce gas prices.
- Biden's plan: "First, the DOE will release another 15 million barrels from the strategic petroleum reserve, extending our previously announced release to the month of December."
- Biden says the reserve is more than half full "more than enough for any emergency drawdown."
- Biden: "Second, we need to responsibly increase American oil production without delaying or deferring our transition to clean energy."
- Biden says that, contrary to what the GOP says, his administration has not stopped or slowed oil production.
- Biden says the US will look to replenish the SPR when the price of oil falls to USD$70per/barrel. Biden claims that refilling the reserve at this level is good for energy companies and will turn a profit for taxpayers.
- Biden: "Third, I'm calling for oil companies to pass the saving onto consumers."
- Biden claims that oil companies are using record profits to buy back stock but should be using profits to invest back into industry.
- Finally, Biden says that Congress must pass permitting reform. A permitting reform bill proposed by Senator Joe Manchin (D-WV) was blocked by the GOP and progressive Democrats last month.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.