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Will there be additional gasoline releases from US strategic reserves by September 30?
5
Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcements from the Department of Energy or the President's office.
Story
Biden to Release 1 Million Barrels of Gasoline from Strategic Northeast Reserve on Tuesday to Lower Prices
May 21, 2024, 05:00 PM
President Joe Biden has announced the release of 1 million barrels of gasoline from a strategic Northeast reserve on Tuesday in an effort to lower prices at the pump. The reserve, established after Superstorm Sandy, is being tapped as part of the administration's strategy to address rising fuel costs. The Department of Energy will oversee the sale of the gasoline from the U.S. managed stockpile, as required by law. This move aims to provide temporary relief to consumers facing high gas prices this summer.
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Continuation of strategic reserve use • 25%
Restriction or cessation of reserve use • 25%
Expansion of reserve capacities • 25%
No change in policy • 25%
Less than 50 million barrels • 25%
50-100 million barrels • 25%
100-150 million barrels • 25%
More than 150 million barrels • 25%
Increase of more than 10% • 33%
Decrease of more than 10% • 33%
Stay within +/- 10% • 33%
To lower gasoline prices • 33%
Political motives ahead of elections • 33%
Legal requirement under Congressional act • 33%
Yes, national average gas prices decrease • 50%
No, national average gas prices do not decrease • 50%
Yes, Biden's approval ratings improve • 50%
No, Biden's approval ratings do not improve • 50%
Prices decrease significantly • 25%
Prices decrease slightly • 25%
Prices remain stable • 25%
Prices increase • 25%