Trump releases heating oil to the northeast to reduce surging prices

Por Mike Soraghan — POLITICO – TOP Stories

The Trump administration announced Wednesday that it will release up to one-third of the Northeast Home Heating Oil Reserve in a bid to lower the cost of the fuel as winter looms — and as Maine’s bitter Senate race hangs in the balance.

The announcement comes as Republican Sen. Susan Collins makes a case to Maine voters amid a tight reelection contest that her years of experience in Congress show she can deliver for them. Democratic challenger Troy Jackson said she should have done more to end the U.S. war with Iran that led to the price surge.

The race is one of a handful across the country that could determine whether Republicans or Democrats control the Senate next year. About 3% of U.S. households rely on heating oil, mostly concentrated in the Northeast, especially in Maine, where Collins and independent Sen. Angus King have both been pushing for a release from the reserve.

The average cost of a gallon of heating oil in the United States is $6.14, according to the most recent Energy Information Administration data. That’s more than double the price a year ago, which was $2.60. In New England, the average price is $6.08.

“I have repeatedly urged the administration to use every tool to increase supply and lower energy prices,” Collins said in a statement from the Senate Appropriations Committee, which she chairs. “The Department anticipates this release will put downward pressure on home heating oil costs and make a real difference for Maine homeowners as they prepare for winter.”

Jackson said she could have voted with Democrats in the Senate to force President Donald Trump to end the war he launched against Iran in February that has since spread through the Middle East, causing oil and fuel prices to increase.

“Two weeks before Election Day, she wants Mainers to believe she’s coming to the rescue,” Jackson said in a statement Wednesday. “Susan Collins is like an arsonist who sets the house on fire and then wants credit for bringing you a cup of water.”

In the announcement today, the Department of Energy said it has released a Request for Proposal for an exchange of up to 315,000 barrels of fuel oil from the reserve. Under the terms of the exchange, borrowing companies must return the same volume of fuel oil plus a premium, ensuring that the reserve is refilled ahead of next year’s heating season.

“The Trump Administration is committed to doing everything in our power to lower energy costs for the American people,” Energy Secretary Chris Wright said in a statement.

Wright stressed that the release was a “temporary measure” to alleviate a supply disruption and said that Democratic leaders in the Northeast should join the push for a new natural gas pipeline that would help the region shift away from expensive heating oil.

Fonte: POLITICO – TOP Stories