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Here's a recent one. Dumping some of the strategic oil reserve into the supply to artificially lower fuel costs, otherwise known as a subsidy (Monetary assistan
by cronix 5y ago
Here's a recent one. Dumping some of the strategic oil reserve into the supply to artificially lower fuel costs, otherwise known as a subsidy (Monetary assistance granted by a government to a person or group in support of an enterprise regarded as being in the public interest).
> Today, the President is announcing that the Department of Energy will make available releases of 50 million barrels of oil from the Strategic Petroleum Reserve to lower prices for Americans and address the mismatch between demand exiting the pandemic and supply.
https://www.whitehouse.gov/briefing-room/statements-releases/2021/11/23/president-biden-announces-release-from-the-strategic-petroleum-reserve-as-part-of-ongoing-efforts-to-lower-prices-and-address-lack-of-supply-around-the-world/ https://www.whitehouse.gov/briefing-room/statements-releases...
- fallingknife 5y agoThis would be the opposite of a subsidy as it lowers the market price and will actually lower the profits of oil producers.