Schumer Calls on Trump to Release Oil Reserves as Iran War Sends Prices Surging

Senate Minority Leader Chuck Schumer (D-N.Y.) on March 8 called on President Donald Trump to release oil from the nation’s Strategic Petroleum Reserve, saying the ongoing U.S. military conflict with Iran is driving up gas prices for American families and that the administration has the tools to act. America’s Strategic Petroleum Reserve was created following the 1970s Arab oil embargo to store oil that could be accessed in an emergency. Former President Joe Biden tapped it in an effort to lower prices in 2022, releasing 180 million barrels. The Trump administration said that the move by the Biden administration was “reckless” and has worked to replenish the reserves since Trump took office again last year....