President Joe Biden‘s move to release 50 million barrels of oil from U.S. reserves has faced a growing chorus of criticism from those who see it as a political move rather than a genuine attempt to ease gas prices.
With Americans paying an average of 50 percent more at the pump than this time last year, Biden said the largest release in history from the nation’s Strategic Petroleum Reserve (SPR) showed he was “taking action.”
Or at least his administration is seen to be taking action, which is just as important. That’s according to Frank Maisano, energy expert at Bracewell PRG, which represents energy groups.
“He had to have some sort of virtue signaling to show people that he was doing something and that really what this is,” he told Newsweek.
“This is him laying out things he can do even though it is not going to have much impact. When the market comes back, people will say, ‘he did…