[Cyprus Times] Biden's measures to tackle the energy crisis. This is how he plans to bring down prices

Biden's measures to deal with the energy crisis This is how he plans to lower prices Among the measures that Biden's staff has activated and the release of one million dollars of energy. quote]

The US administration has taken extraordinary measures to deal with the energy crisis that is rocking the international community due to the Russian invasion, which has caused oil prices to rise, while at the same time Russia is cutting gas supplies.

A package of measures has been announced by Joe Biden's staff, including the release of one million barrels a day from strategic reserves, the release of another 240 million barrels with the participation of allied countries, expanded access to biofuels, which will lead to lower prices in the US.

Recall that in March, the US president issued an order to pump 1 million barrels a day from strategic oil reserves for six months, in an "unprecedented" decision in US history in an attempt to stem the rise in oil prices.

This release of black gold is expected, according to the US presidential statement, to serve to "transition until (US) production rises at the end of the year".

Europe prepares for gas cutoff Germany returns to coal

Under the threat of Russia shutting off the gas "spigot" to Europe, Germany is already taking measures ahead of winter. As the Financial Times reports, one of the measures it will take is to resort to coal, even though it is considered the number one source of environmental pollution.

"In order to reduce gas consumption, we need to use less gas to generate electricity. Instead, coal plants must be used more," the Economy Ministry said in a statement."

The decision represents a shift by the coalition government, particularly for the Greens, who have promised to end coal use by 2030. "It's tough, but it's necessary in order to reduce our gas consumption," the Green economy minister Robert Habeck said in a statement."

Russia this week cut by 60 percent its gas supply to Germany, with Europeans believing Moscow was responding to sanctions over its invasion of Ukraine.

Italy is also ready to implement the contingency plan regarding gas supplies.

Among other measures in the plan are the use of alternative energy sources, the voluntary reduction of energy supplies to industries and an increase in imports from third countries.

This new phase is caused by the continuous reduction in supplies from Russia in the last three days.

However, the Italian press underlines that in recent weeks Italy has already started to import more gas from Algeria than from the Russian Federation.

Source: protothema.gr

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