Biden will release more oil to fight high prices

Biden will release more oil to fight high prices

　　Transcript¹

　　Gas prices have been soaring. President Biden is announcing he will release oil from the Strategic Petroleum³ Reserve.

　　STEVE INSKEEP, HOST:

　　The White House says President Biden will release oil from the Strategic Petroleum Reserve. Presidents occasionally do this at times of high oil prices. Biden himself has done it, and it's often of symbolic⁴ effect. But the Biden administration is releasing a lot more oil this time. And NPR White House correspondent Tamara Keith is here. Hi, Tam.

　　TAMARA KEITH, BYLINE⁵: Hi.

　　INSKEEP: How much oil?

　　KEITH: A lot of oil. This is the largest release of oil reserves in history, putting 1 million additional barrels on the market per day on average every day for the next six months. The U.S. will then use revenue from this release to restock the country's reserves, which are held in underground salt caverns⁶ in Louisiana and Texas. The White House says this is also being done in coordination⁷ with other countries around the world who will be releasing from their reserves as well. It's also proposing a use it or lose it policy that would force oil companies to pay fees for land that they have leased but where they haven't drilled or produced oil.

　　An administration official says that, you know, they've been talking to oil companies. Some have said that they will ramp⁸ up production in response to the market instability that's been caused by Russia's war on Ukraine. But that is going to take time. So that's why the administration is making this move now. But also they said there are other companies that are focused on dividends⁹ and using high prices to return profits to investors¹⁰ rather than investing in increased production. And you can expect to hear the president shake his fist at them today.

　　INSKEEP: Oh, sure. And there's a lot of politics going on here. The administration is being blamed for blocking oil in some fashion. The administration has responded that the companies need to drill with the leases that they already have. So that's what they're addressing today. Can these moves really make a difference?

　　KEITH: Well, even just the anticipation¹¹ of this move brought down oil prices this morning on the global markets. Now, that may well just be a temporary market movement, but it does indicate that this is a significant move that the president is making. The world uses about 100 million barrels of oil today. So while a million a day is a lot, it is also not that much. The U.S. produces about 11 million barrels a day. Here's the bigger context - AAA says the average price for gasoline for a gallon of regular is now $4.23. That is slightly down from the high, but it's about the same it was last week. It's 60 cents more per gallon than it was just a month ago. And concerns about inflation are real. The president doesn't have a lot of levers to affect the oil prices, but this is the lever he has, and he is using it now. And as you say, he did use it in November on a much smaller scale. And then, it didn't really make a dent².

　　INSKEEP: Anything the administration can do about inflation has got to feel like something politically essential.

　　KEITH: Yeah, Biden's approval rating is in the neighborhood of 40%. And this is an election year, which has Democrats¹² very worried. Using his bully¹³ pulpit to complain about energy companies or to say that these are, quote, "Putin's price hikes" only goes so far. And this is a pretty dramatic action that the president is making to signal to the country that he feels their pain and he is doing what he can do.

　　INSKEEP: NPR's Tamara Keith, always a pleasure talking with you. Thanks.

　　KEITH: Good talking to you, too.

1 transcript   

n.抄本，誊本，副本，肄业证书

参考例句：

• A transcript of the tapes was presented as evidence in court.一份录音带的文字本作为证据被呈交法庭。
• They wouldn't let me have a transcript of the interview.他们拒绝给我一份采访的文字整理稿。

2 dent   

n.凹痕，凹坑；初步进展

参考例句：

• I don't know how it came about but I've got a dent in the rear of my car.我不知道是怎么回事，但我的汽车后部有了一个凹痕。
• That dent is not big enough to be worth hammering out.那个凹陷不大，用不着把它锤平。

3 petroleum   

n.原油，石油

参考例句：

• The Government of Iran advanced the price of petroleum last week.上星期伊朗政府提高了石油价格。
• The purpose of oil refinery is to refine crude petroleum.炼油厂的主要工作是提炼原油。

4 symbolic   

adj.象征性的，符号的，象征主义的

参考例句：

• It is symbolic of the fighting spirit of modern womanhood.它象征着现代妇女的战斗精神。
• The Christian ceremony of baptism is a symbolic act.基督教的洗礼仪式是一种象征性的做法。

5 byline   

n.署名；v.署名

参考例句：

• His byline was absent as well.他的署名也不见了。
• We wish to thank the author of this article which carries no byline.我们要感谢这篇文章的那位没有署名的作者。

6 caverns   

大山洞，大洞穴( cavern的名词复数 )

参考例句：

• Within were dark caverns; what was inside them, no one could see. 里面是一个黑洞，这里面有什么东西，谁也望不见。 来自汉英文学 - 家（1-26） - 家（1-26）
• UNDERGROUND Under water grottos, caverns Filled with apes That eat figs. 在水帘洞里，挤满了猿争吃无花果。

7 coordination   

n.协调，协作

参考例句：

• Gymnastics is a sport that requires a considerable level of coordination.体操是一项需要高协调性的运动。
• The perfect coordination of the dancers and singers added a rhythmic charm to the performance.舞蹈演员和歌手们配合得很好，使演出更具魅力。

8 ramp   

n.暴怒，斜坡，坡道；vi.作恐吓姿势，暴怒，加速；vt.加速

参考例句：

• That driver drove the car up the ramp.那司机将车开上了斜坡。
• The factory don't have that capacity to ramp up.这家工厂没有能力加速生产。

9 dividends   

红利( dividend的名词复数 )； 股息； 被除数； （足球彩票的）彩金

参考例句：

• Nothing pays richer dividends than magnanimity. 没有什么比宽宏大量更能得到厚报。
• Their decision five years ago to computerise the company is now paying dividends. 五年前他们作出的使公司电脑化的决定现在正产生出效益。

10 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

11 anticipation   

n.预期，预料，期望

参考例句：

• We waited at the station in anticipation of her arrival.我们在车站等着，期待她的到来。
• The animals grew restless as if in anticipation of an earthquake.各种动物都变得焦躁不安，像是感到了地震即将发生。

12 democrats   

n.民主主义者，民主人士( democrat的名词复数 )

参考例句：

• The Democrats held a pep rally on Capitol Hill yesterday. 民主党昨天在国会山召开了竞选誓师大会。
• The democrats organize a filibuster in the senate. 民主党党员组织了阻挠议事。 来自《简明英汉词典》

13 bully   

n.恃强欺弱者，小流氓；vt.威胁，欺侮

参考例句：

• A bully is always a coward.暴汉常是懦夫。
• The boy gave the bully a pelt on the back with a pebble.那男孩用石子掷击小流氓的背脊。