United States Secretary of the Interior Doug Burgum (pictured) said on Wednesday that now is the "perfect time to think" about the release of strategic oil reserves, commenting on the decision by several other countries to release their reserves.
"These are the kinds of moments that these reserves are used for. What we have here is not a shortage, we have a transit problem," Burgum said in an interview for Fox News, adding that these are measures to "take some pressure off the global price."
The secretary noted that the Texas refinery, together with Venezuela, is expected to bring down some of the gas prices. Regarding the ongoing conflict in Iran, he also stated that the Gulf allies "have never been happier to have US military presence in their country."
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