White House Studies Options on Gas Prices

“The White House is studying a range of potential responses to rising gas prices as top Democrats in Congress push the administration to embrace a new tax on large corporate profits ahead of the 2022 midterm elections,” the Washington Post reports.

“With the price of gas jumping after Russia’s invasion of Ukraine and remaining high, Biden administration officials have in recent days conducted what is described as wide-ranging internal talks about potential ideas for bringing relief to consumers.”

“The ideas they have discussed include a major release of the nation’s oil reserves, loans and other incentives to energy producers to encourage production, and a federal gas tax holiday.”