Daily Briefing: 15 million barrels of oil

Nicole Fallert, USA TODAY
·6 min read
6

Just weeks ahead of the midterm elections, President Joe Biden is signaling he understands voters' woes about gas prices as he releases 15 million barrels of oil from the nation’s emergency reserves. Also in the news: Many Ukrainians are without power following Russian strikes on infrastructure, and an exclusive column for USA TODAY by Simone Biles.

🙋🏼‍♀️ I'm Nicole Fallert, Daily Briefing author.

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Biden to complete release from emergency oil reserves

President Joe Biden will announce Wednesday he’s releasing 15 million barrels of oil from the nation’s emergency reserves, one of the few actions he can take before next month’s midterm elections to show voters he feels their pain at the pump. The move completes Biden’s March directive to release 180 million barrels from the Strategic Petroleum Reserve, the largest sale in the reserve’s nearly 50-year history. Read more

Context: Biden’s move comes about two weeks after OPEC and its oil-exporting allies announced they would cut oil production by 2 million barrels per day to boost prices.

  • More context: Biden first tapped the reserves last November amid a spike in gas prices and soaring inflation, later exacerbated by Russia’s invasion of Ukraine in February. Now he's searching for "alternatives" to help lower gas prices after OPEC cut oil production.

  • In March, Biden ordered the release of 1 million barrels of oil a day for six months. That’s the largest release from the reserve in its nearly 50-year history. The administration stretched out the release, which will now be completed by the end of the year.

  • How has the pandemic and the war changed what Americans pay? The national average pump price for a gallon of gas has significantly dropped since summer but has ticked up since September and is still higher than it was last year.

  • Pre-winter energy crisis builds in Europe: Leading up to Thursday's start of a key summit, European Union leaders enter a crucial stretch this week to make sure runaway energy prices and short supplies don't further tank their struggling economies and foment unrest.

Protesters march during a demonstration in Paris, on October 18, 2022. Unions in other industries and the public sector have also announced action to protest against the twin impact of soaring energy prices and overall inflation on the cost of living.
Protesters march during a demonstration in Paris, on October 18, 2022. Unions in other industries and the public sector have also announced action to protest against the twin impact of soaring energy prices and overall inflation on the cost of living.

Russia presses on with target on Ukraine's infrastructure

Russia’s current offense on Ukraine left people without power in scores of cities and towns as the war approaches its eight-month milestone. Shelling overnight Tuesday and into Wednesday morning in Energodar, the closest city to the Zaporizhzhia nuclear power plant, reportedly knocked out the power and water supply in some of the city’s districts. Critical infrastructure was attacked with Russian S-300 missiles in the Zaporizhzhia region. Russian forces also heavily shelled two areas in the eastern Dnipropetrovsk region, taking out the power supply in several towns and villages. In his nightly video address, Ukrainian President Volodymyr Zelenskyy urged people to use power sparingly. Read more

  • Former CIA director: Drone attacks are one of Putin's few options left, and they won't change the direction of the war.

Tatiana Alexeyevna mourns over the coffin of her son Colonel Oleksiy Telizhenko during his funeral in Bucha, near Kyiv, Ukraine, Tuesday, Oct. 18, 2022. In March, Colonel Oleksiy was abducted by Russian soldiers from his home in Bucha; six months later, his body was found with signals of torture buried in a forest not far away from his village.
Tatiana Alexeyevna mourns over the coffin of her son Colonel Oleksiy Telizhenko during his funeral in Bucha, near Kyiv, Ukraine, Tuesday, Oct. 18, 2022. In March, Colonel Oleksiy was abducted by Russian soldiers from his home in Bucha; six months later, his body was found with signals of torture buried in a forest not far away from his village.

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'Liar' tossed more than once at Florida Senate debate

The word "liar" and plenty of other tough language was exchanged as Florida Republican U.S. Sen. Marco Rubio and his Democratic opponent, U.S. Rep. Val Demings, met on the debate stage in a heated matchup Tuesday night on the campus of Palm Beach State College. Demings often was on the offensive as she tries to unseat a two-term incumbent and shake up a race where polls show her lagging, in a state that increasingly has trended red. Rubio deflected on some hot-button issues, such as abortion, and tried to ignore others as he sought to avoid major missteps in the home stretch. Here are five takeaways from the debate.

Sen. Marco Rubio (R-FL) and U.S. Rep. Val Demings (D-FL) greet each other before a televised debate at Duncan Theater an the campus of Palm Beach State College in Palm Beach County, Fla., on Tuesday, October 18, 2022.
Sen. Marco Rubio (R-FL) and U.S. Rep. Val Demings (D-FL) greet each other before a televised debate at Duncan Theater an the campus of Palm Beach State College in Palm Beach County, Fla., on Tuesday, October 18, 2022.

Los Angeles City Council elects new president after leaked racist audio rocked city

A week after a leaked audio recording erupted Los Angeles in scandal and left the city in a state of uncertainty over its leadership, the city council on Tuesday elected Councilmember Paul Krekorian as its new president. In a four-hour meeting, which was held remotely due to exposure to COVID-19, councilmembers listened to hours of public comment before voting Krekorian in. He will replace Nury Martinez's empty seat following her resignation last Wednesday. He took the role of president immediately following the unanimous vote. Read more

📷 Photo of the day: Protests call for Los Angeles City Councilmembers to resign after racist remarks 📷

The demonstrators demanded the city council stop its virtual meeting Tuesday until two of its members resign over racist remarks. Click here to see more photos from the protests.

Protesters chant a slogan outside the Los Angeles City Hall in Los Angeles, Tuesday, Oct. 18, 2022.
Protesters chant a slogan outside the Los Angeles City Hall in Los Angeles, Tuesday, Oct. 18, 2022.

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Simone Biles for USA TODAY Opinion: My life could have been very different

As a young adult, I can’t help but notice that people often identify me for the medals I have won. I get it: They see me on TV doing gymnastics and that is who and what I am to them. Don’t get me wrong, I am so lucky to have people who follow my career and cheer me on. They mean everything to me. I understand why they ask me about my medals, how much work I put into training and how much fun it must all be. Read the rest of Biles' column.

One more thing

Benito Saavedra reunited with his sister Eva Saavedra in Dallas, Texas after being apart for 24 years after he immigrated to the United States.
Benito Saavedra reunited with his sister Eva Saavedra in Dallas, Texas after being apart for 24 years after he immigrated to the United States.

Nicole Fallert is a newsletter writer at USA TODAY, sign up for the email here. Want to send Nicole a note, shoot her an email at NFallert@usatoday.com or follow along with her musings on Twitter. Support journalism like this – subscribe to USA TODAY here.

Associated Press contributed reporting.

This article originally appeared on USA TODAY: Gas prices, Ukraine, Marco Rubio, Los Angeles City Council: Daily Briefing