Last edited Mon Jul 25, 2022, 05:10 PM - Edit history (3)
gasoline taxes. They've chosen that route as a main source to fund their government budgets, which also helps to reduce their greenhouse gas emissions to much lower per capita than the U.S.
This International Business Times article from 2013 says...
The average U.S. resident actually pays anywhere between $2 and $0.90 less than the actual market value of gasoline because of government subsidies
Administrations of all stripes have been using the
Strategic Petroleum Reserve in its 50 year history, even to help fund the deficit. I am glad to see it put to good use. A release of SPR reserves of a million barrels / day is about 1.3% of 2021 world oil production.
According to
FactCheck.org, (July 14, 2022), that 1 million/day is about one third of the 3 million barrels that the U.S. exports daily to other countries.
Edited To Add: they aren't saying that most or all or any more than a small percent of SPR releases actually end up overseas. It's only a comparison to indicate the scale of the amounts involved, and to emphasize that the U.S. is part of a world oil market.
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