What to Know in Washington: GOP Probes Biden Tapping Oil Reserve
House Republicans are launching an investigation into what they say could be the “potential misuse” by the Biden administration of the nation’s emergency oil reserves to lower gasoline prices, as well as White House deliberations over a fuel-export ban.
The move by the Republicans on the House Committee on Oversight and Reform previews a more robust probe if the GOP takes control of the chamber after the November midterm elections, a development that would grant them the power to subpoena key administration officials of President Joe Biden.
Committee Republicans, in a letter Wednesday, said they were examining the use of the Strategic Petroleum Reserve by the administration amid a historic 180 million barrel release that began in the Spring. The Republicans also said in the letter to Energy Secretary Jennifer Granholm that it was seeking information about a possible export ban of refined petroleum products.
“We are concerned that the president may soon impose an oil and gas export ban that will result in even higher gas prices, supply chain issues, global market upheaval, and reduced energy security for the US and our allies,” said the letter which was led by Rep. James Comer (Ky.), the committee’s top Republican, and Rep. Nancy Mace (R-S.C.).
The letter comes amid Republican ire over the administration’s use of the SPR to tame high gasoline prices ahead of the Nov. 8 midterm elections that will decide control of Congress. The White House announced last week it was offloading 15 million barrels of oil from the reserve, the final tranche of the 180 million barrel release aimed at stemming soaring gasoline and oil prices as a result of Russia’s invasion of Ukraine and surging demand as the pandemic came to an end. Biden said further releases from the oil reserve are possible in the months ahead. Ari Natter has the story.
Happening on the Hill
NJ Democratic Senator Menendez Facing New Federal Investigation
Sen. Robert Menendez (D-N.J.) faces another federal investigation about five years after a trial on federal corruption charges ended in a mistrial, a Menendez adviser confirmed Wednesday.
Boyle Eyes Top Democratic Slot on House Budget Panel in 2023
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Pallone Grills AT&T, Comcast Over Affordable Internet Practices
Internet service providers are facing scrutiny from the head of the House Energy and Commerce Committee for allegedly engaging in predatory behavior through a government internet subsidy program.
Elizabeth Warren Sharpens Attack Against Zelle Payments System
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Election, Politics & Probes
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Fetterman Concedes a ‘Bad Day’ at Debate but Says Oz Did Worse
Democrat John Fetterman said that his rocky showing at Tuesday night’s Pennsylvania Senate debate “wasn’t exactly easy” but insisted Wednesday that he got the best of his Republican rival, Mehmet Oz, despite his stumbles.
Trump Special Master Asked to Rule on Privilege to Speed Review
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Trump’s Legal Team Accepts Service of Congressional Subpoena
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High Court Justice Temporarily Blocks Jan. 6 Panel Subpoena
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Arizona Democrat Katie Hobbs’ Campaign Office Burgled: Local TV
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Iowa ‘Heartbeat’ Abortion Ban Heads to Trial Court Showdown
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Affirmative Action Defenders Eye History in Supreme Court Fight
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Yellen Playing More Political Role With Ohio Battleground Visit
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Around the Administration
PRESIDENT’S SCHEDULE
- Biden at 3:30 p.m. will give a speech in Syracuse, New York on Micron’s semiconductor manufacturing plans there.
Biden Team Reworks Plan for Russia Oil-Price Cap as Markets Sour
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White House Eyes Expanding Northeast Diesel Reserve Amid Crunch
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Biden’s Regulations Nominee Left in Limbo With Rules Spree Ahead
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Regional Bank Boom Spurs Fed, FDIC to Eye New Capital Mandates
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Climate Change Financial Risk Prompts Treasury to Seek Remedies
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Amazon CEO Jassy Violated Labor Laws, NLRB Regional Head Says
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Tesla Faces US Criminal Investigation Around Self-Driving Claims
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US Trade Chief Says Indo-Pacific Deal Improves Upon Predecessor
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Student Debt Headaches Return for Millions Despite Biden Relief
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Xi Says China Can Work With US Before Possible Biden Meeting
Chinese President Xi Jinping said his nation is willing to work with the US to find ways to cooperate, comments that come before a potential meeting with Biden at a Group of 20 summit next month.
To contact the reporters on this story: Brandon Lee in Washington at blee@bgov.com; Michaela Ross in Washington at mross@bgov.com
To contact the editor responsible for this story: Giuseppe Macri at gmacri@bgov.com