Biden: We will increase our investments in oil exploration and $ 70 is an appropriate price for a barrel

US President Joe Biden said his country will increase investment in oil exploration, as it needs to increase its oil production without delay.

He added: “We have worked out a plan to replenish the strategic reserve after we withdraw from it. We will buy oil from abroad to replenish the strategic reserve.”

Biden denied that the withdrawal from the strategic oil reserve was for electoral reasons and said: “I ordered the officials in America to work to reduce fuel prices. “

The president of the United States has announced 3 steps to cope with rising gasoline prices in his country.

“The oil companies have made profits they have not made in 17 years and $ 70 a barrel of oil is an appropriate price, “according to Biden.

The US president has asked Congress to pass a clean energy transition law and announced a $ 96 billion investment in clean energy, noting that finding clean alternatives to energy takes a lot. time.

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