- President Biden will announce the release of 180 million barrels of oil over six month from the Strategic Petroleum Reserve later on Thursday
- Senior administration officials said it was one part of a plan to lower gas prices
- He will also ask Congress to impose fees on oil and gas companies that lease federal land but are not using permits to produce energy
- And he will use the Defense Production Act to accelerate switch to electric cars
- The White House has been desperately looking at ways to lower fuel prices
- Oil prices have surged since President Putin invaded Ukraine
- It would be the largest release in the near 50-year history of the SPR
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