President Biden announced this morning he’s ordering the release of 50-million barrels of oil from the Strategic Petroleum Reserve in an effort to bring down gas prices, what Iowa Senator Chuck Grassley says is exactly the wrong move to make. Grassley spoke with KIOW /KHAM News Director A. J. Taylor in an upcoming Sunday Talk segment on kiow.com and says the President should only tap the reserve in a “real emergency” or in the case of critical national security issues.
The news comes as tens of millions of Americans plan to gas up their vehicles this week before heading off to visit loved ones for Thanksgiving. Grassley blames the administration for escalating gas prices, which are more than a $1.20 a gallon higher in Iowa than they were a year ago.
Iowa’s senior senator says he’s convinced the president’s gesture will have little-to-no significant impact on gasoline prices.
AAA Iowa reports gasoline prices in Iowa are averaging $3.16 a gallon. A year ago, they averaged a $1.95, a difference of a $1.21 a gallon. Local stations say that $3.50 a gallon may not be out of the question by Christmas.