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Market
Public opinion on primary purpose of gasoline release from reserve
5
Resolution / Starting Odds
To lower gasoline prices • 33%
Political motives ahead of elections • 33%
Legal requirement under Congressional act • 33%
Major national polls such as Gallup or Pew Research
Story
Biden to Release 1 Million Barrels of Gasoline from Northeast Reserve to Lower Prices Ahead of July 4
May 21, 2024, 06:15 PM
President Joe Biden has announced the release of 1 million barrels of gasoline from a Northeast reserve to lower prices at the pump. This reserve, established after Superstorm Sandy, is being sold off as part of a law passed by Congress in the Consolidated Appropriations Act. The Department of Energy has timed the sale to coincide with the summer driving season, particularly ahead of July 4. The move has sparked debate, with some critics arguing it is politically motivated ahead of the upcoming election year, while supporters emphasize it is a legal requirement. The U.S. strategic reserves have dropped to 450 million barrels, a 40-year low.
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Viewed as politically motivated • 33%
Viewed as economically motivated • 33%
Viewed as security compromised • 33%
Significant increase • 25%
Slight increase • 25%
No change • 25%
Decrease • 25%
Yes, Biden's approval ratings improve • 50%
No, Biden's approval ratings do not improve • 50%
Increased • 50%
Unchanged/Decreased • 50%
Mostly viewed as legitimate • 33%
Divided opinions • 34%
Mostly viewed as politically motivated • 33%
Yes • 50%
No • 50%
Mostly legitimate • 25%
Mostly illegitimate • 25%
Divided opinion • 25%
Indifferent • 25%
Majority support • 33%
Majority oppose • 33%
Divided opinion • 34%
Continuation of strategic reserve use • 25%
Restriction or cessation of reserve use • 25%
Expansion of reserve capacities • 25%
No change in policy • 25%
Significant increase in summer travel • 33%
Moderate increase in summer travel • 33%
No increase in summer travel • 33%
Majority in favor • 33%
Majority against • 33%
Equally divided • 34%
Yes, national average gas prices decrease • 50%
No, national average gas prices do not decrease • 50%