President Joe Biden is mulling taking action to release federal diesel stockpiles in an attempt to curb the worsening supply shortage of the key fuel in New England, CNN reported Monday.
Biden recently asked officials to begin preparing a plan to order a release of fuel from the Northeast Home Heating Oil Reserve (NEHHOR), a government stockpile of ultra-low-sulfur diesel last tapped in 2012 during Hurricane Sandy, a senior administration official told CNN.
The move reportedly reflected the president’s and White House officials’ concerns about surging diesel fuel prices and declining private sector inventories in the northeast.
“The system is definitely under strain,” the senior administration official told CNN.
“We think this looks like the exact circumstance where consideration of the release should be done and that’s what the president has directed,” the official continued.
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11.24.2024