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Biden orders unprecedented use of oil stockpile to combat US fuel prices

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Factual Pursuit of Truth for Progress

President Joe Biden will announce Thursday a record release from US strategic oil reserves in an attempt to curb a politically damaging surge in domestic fuel prices following Russia’s attack on Ukraine, the White House said.

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The measure will dump a million barrels of US government oil a day for six months onto the overheated global market in hopes of dampening inflationary shockwaves ripping through the American economy.

“The scale of this release is unprecedented,” the White House said in a statement. “This record release will provide a historic amount of supply to serve as bridge until the end of the year when domestic production ramps up.”

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Struggling with bad poll numbers and November’s looming midterm elections, when Republicans are forecast to take over Congress from the Democrats, the White House is scrambling to show Americans that Biden has a solution to a problem rooted in aftershocks from the Covid pandemic and President Vladimir Putin’s brutal war.

Biden was scheduled to address the nation on his plan, which will augment global supplies by about one percent, later Thursday.

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Oil prices fell sharply even on initial reports of the plan, which came as the OPEC+ group of petroleum exporters decided to raise output only modestly despite the jump in crude prices in the wake of key energy supplier Russia’s decision to invade Ukraine.

A senior US official told reporters that the US oil would be “coming to market very soon” and that with other countries making their own coordinated releases of reserves, the total addition to daily supply will be “well in excess of the one million barrels.”

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Fallout from Russia sanctions

The release dwarfs earlier uses of the strategic stockpile announced by the Biden administration in tandem with other countries on March 1 following the Russian invasion, and also last year in response to rising inflation.

Despite a strongly rebounding economy and rapidly receding Covid-19 pandemic, Biden is getting little credit from voters, who instead blame him for rising prices everywhere from the supermarket to car dealerships.

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Supply chain snags related to the different pace of economic recoveries around the world are part of the inflation phenomenon. Also underlying the politically perilous trend, however, are ever higher fuel costs, which in turn push up prices for transport of almost all goods.

And for US motorists, the price shock as they fill cars in gasoline stations is a constant irritation. “I did this,” reads a sticker featuring a picture of Biden that has been fixed next to pump handles in many stations.

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Gasoline prices currently stand at an average of $4.23 a gallon, up 47 percent from their level a year ago.

The price of US benchmark West Texas Intermediate was down 4.6 percent to $102.89 a barrel, while Brent oil futures were down 5.5 percent at $107.20 a barrel.

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Oil prices surged close to $140 a barrel in March. Prices have retreated somewhat since the United States banned Russian energy imports on March 8, but have lingered above $100 a barrel most of the subsequent period.

The senior US official, speaking on condition of anonymity, said that prices paid by motorists “right now are up almost $1 since Vladimir Putin accelerated his military buildup in January.”

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The official said this was directly linked to the US oil sanctions on Russia but said the measure had been “the right thing to do.”

“Russian oil supply is dropping and the price has increased. The president has said from the start that standing up to Putin’s aggression would never be painless, but he is committed to doing everything he can to help American families,” the official said.

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AFP

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Pilot who fell unconscious midflight is home from hospital as doctors say his recovery is ‘miraculous’

Pilot who fell unconscious midflight is home from hospital as doctors say his recovery is

The pilot who fell unconscious last week mid-flight has made a recovery that his doctor is calling “a miracle.”
 

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After the pilot lost consciousness, a passenger with no experience on how to fly a plane succeeded in landing the plane, saving all three people on board from crashing.

 

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Darren Harrison, 39, successfully landed the plane at Palm Beach International Airport, where emergency personnel then rushed the pilot to St. Mary’s Medical Center before he was transferred to Palm Beach Gardens Medical Center.

 

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The pilot, whose name has not been released, is now out of the hospital and resting at home after he underwent surgery for an aortic dissection, according to the hospital.

 

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An aortic dissection is a life-threatening emergency in which a tear occurs in the inner layer of the body’s main artery.

 

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Dr. Nishant Patel, a cardiothoracic surgeon at Palm Beach Gardens Medical Center who treated the pilot, revealed how long the odds were that the man would survive the landing, the trips to the two hospitals and then the surgery.

 

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Patel said on Tuesday, May 17: “Fifty percent of patients won’t make it to the hospital, and then 50% of patients that do make it to the hospital will pass away within 24 hours without prompt diagnosis and treatment.”

 

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The pilot was released from the hospital on Monday, May 16.

 

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It’s a “really quite miraculous recovery, miraculous story,” Patel said.

 

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Emergency personnel initially thought the pilot had potentially suffered a stroke before doctors at St. Mary’s discovered a tear in his aorta, according to Patel. He was quickly transferred to the second hospital for emergency surgery.

 

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“First thing he asked me (after the surgery) is, ‘Doc, when am I going to go home?’ which I thought was really quite amazing,” Patel said. “Everything about this guy is just truly, truly amazing. He definitely understands everything that happened, and how severe the situation was on so many different levels before the hospital, in the operating room, and during recovery.”

 

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Patel said the pilot was in great health before the cardiac event and has already done “remarkably well” in his recovery.

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Court dissolves marriage over doubtful paternity

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Court dissolves marriage over doubtful paternity

An Igando Customary Court in Lagos State has ordered the dissolution of the marriage between Mr. Jose Salami and Mrs. Sola Jaiyeola, on grounds of the doubtful paternity of their only child.

 

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Vanguard reports that in a petition filed before the court, Salami, a resident of Number 9, Bakare St., Igando, Lagos State, said he doubted the paternity of the only child produced by the union.

 

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“In March 2013, she said she was a month pregnant for me; so, I arranged for a traditional marriage to be done. But to my surprise, my wife put to bed in July of that same year, and when I asked how possible it was, she waived it aside.

 

 

In his judgment, the President of the court, Adeniyi Koledoye, said that it appeared the love between the couple had since perished. He noted that the respondent did not show up in court in spite of several summons.

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“There is no doubt that the respondent was in another relationship from which she was pregnant, and perhaps the pregnancy was rejected and she decided to hang it on the petitioner. However, the petitioner ought to have opted out of the marriage immediately he discovered that the paternity of the child was doubtful. It is clear the petitioner was deceived into the marriage by the respondent,” the judge held

 

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Koledoye, therefore, dissolved the marriage and ordered the respondent to pay N200,000 to the petitioner. 

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VeekiRoyce Set To Splash Thousands On Fans To Celebrate Her New Single “Oba”

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VeekiRoyce Set To Splash Thousands On Fans To Celebrate Her New Single

Veekiroyce, Nigeria gospel artiste currently trending with her hit single “On God”  has finally revealed her intentions to help few fans in what she tagged #Obagiveawaychallenge.

 

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Veekiroyce who suddenly got into lime light in December last year with “On God” has taken to her Instagram handle to reveal her plans on celebrating her new single “OBA” .

 

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VeekiRoyce Set To Splash Thousands On Fans To Celebrate Her New Single

 

With this move, veekiroyce is set to become amongst the few gospel artiste to run an online give away in recent time.

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Follow @veekiroyce for the cash splash..

 

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See prove.

 

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https://www.instagram.com/tv/Cdpm2ABF5o1/?igshid=YmMyMTA2M2Y=

 

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