Plus, Putin authorizes martial law in Ukraine.
Biden draws from US oil reserves to fight rising gas prices; Putin declares martial law in occupied Ukraine. Tonight's Sentences was written by Jariel Arvin. |
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The US to release 15 million barrels of oil reserves |
- President Joe Biden announced the December release of 15 million barrels from the US strategic reserve to help keep gas prices down. [New York Times / Alan Rappeport]
- This completes the 180 million barrels he directed be released in March after Russia's invasion of Ukraine sent energy prices soaring. [USA Today / Maureen Groppe]
- Recently, OPEC+ countries announced production cuts of 2 million barrels a day, which raised fears of a surge in US gas prices. [CNN / Phil Mattingly and Sam Fossum]
- However, experts say Biden's announcement is unlikely to lower prices at the pump. The US consumes 20 million barrels of oil daily. [NBC News / Lauren Egan]
- Biden also asked oil companies not to raise prices and urged them to pass some of their high profits on to consumers. [NPR / Dustin Jones]
- There are now about 400 million barrels left in the reserves. The administration plans to replenish resources when prices fall to around $67-$72 a barrel. [Politico / Ben Lefebvre]
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📍 If you read just one story Vox's Jonathan Guyer explains why the OPEC+ oil production cuts should not surprise the Biden administration. [Vox / Jonathan Guyer] |
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Putin declares martial law in occupied Ukraine |
- President Vladimir Putin said Russia would impose martial law in four regions Moscow illegally annexed in Ukraine. [Washington Post / Robyn Dixon]
- Putin didn't offer immediate details. But the decision, effective Thursday, will likely grant local authorities power to restrict travel and increase censorship in Donetsk, Kherson, Luhansk, and Zaporizhzhia. [AP]
- The announcement comes after Ukraine handed Russia a series of military defeats that have seen the Kremlin escalate missile and drone strikes. [Reuters / Mark Trevelyan]
- Meanwhile, as many as 60,000 Russians evacuated Kherson as Ukraine mounts a counteroffensive to take back the region. [BBC / Paul Kirby and Paul Adams]
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Actress Anna May Wong, who rose to prominence in the 1920s, will be the first Asian American featured on US currency. [NPR / Ashley Ahn] |
- Hurricane Ian triggered an increase in flesh-eating bacteria cases in Lee County, Florida. [ABC News / Meredith Deliso]
- A group of Wisconsin taxpayers asked the Supreme Court to block the Biden administration's student loan forgiveness program after a lower-level court dismissed their case. [CNN / Katie Lobosco]
- Former President Donald Trump will be deposed Wednesday in writer E. Jean Carroll's defamation lawsuit. She alleges he raped her in the mid-1990s. [NBC News / Summer Concepcion]
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"My message to oil companies is this: You're sitting on record profits and we're giving you more certainty, so you can act now to increase oil production." |
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