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<ul class="summary-list"><li>The Philippines' fisheries bureau says China is trying to "intentionally destroy" Scarborough Shoal.</li><li>The fish-rich atoll is hotly contested by China but internationally recognized as the Philippines'.</li></ul>The Philippines' fishing bureau has accused Chinese fishing vessels of using cyanide to destroy Scarborough Shoal, a fish-rich atoll in the South China Sea contested by both Manila and Beijing."These Chinese fishermen use cyanide," Nazario Briguera, a spokesperson for the Bureau of Fisheries and Aquatic Resources, said on Saturday, per a translation from Filipino by <a target="_blank" href="https://www.philstar.com/headlines/2024/02/17/2334104/china-using-cyanide-destroy-scarborough-purpose-bfar">The Philippine Star</a>.<a target="_blank" href="https://wwf.panda.org/wwf_news/?5563/Cyanide-an-easy-but-deadly-way-to-catch-fish">Cyanide fishing</a> is a controversial fishing method that typically involves dumping the highly toxic chemical near coral reefs or in fishing grounds to stun or kill fish so they can be easily captured.It's widely condemned because it indiscriminately affects most marine species in the area, causes severe damage to aquatic ecosystems, and can make fish harmful to handle or eat.But Brigeura accused the Chinese fishermen of using cyanide to also "intentionally destroy Bajo de Masinloc to prevent Filipino fishing boats to fish in the area," The Philippine Star noted. Bajo de Masinloc is the Spanish name for Scarborough Shoal.The spokesperson estimated that the alleged use of cyanide would result in about $17,850,000 in damages to the region, the outlet reported.The bureau said it hadn't conducted a formal study of the total damage but said it was a "serious concern," The Philippine Star reported.<div type="image" title="An aerial view of Scarborough Shoal." height="3717" width="5588" msid="107814579" hostid="261"></div>"We will see clearer, and we will have proof or evidence that this is really being done by Chinese fishermen and, apparently, other foreign fishers," Briguera said, according to a translation by the Philippine outlet <a target="_blank" href="https://www.gmanetwork.com/news/topstories/nation/897865/chinese-coast-guard-removes-barrier-at-bajo-de-masinloc-but-encounters-continue/story/">GMA News</a>.But the Philippine coast guard on Sunday said it hadn't found any evidence of Chinese fishermen using cyanide and couldn't confirm the fisheries bureau's accusation."We don't have any scientific study or any evidence that would suggest that cyanide fishing in Bajo de Masinloc can be attributed to the Chinese or the Vietnamese fishermen," GMA News quoted a coast-guard spokesperson, Commodore Jay Tarriela, as saying.The Philippines' fishing industry was known to <a target="_blank" href="https://www.wri.org/data/destructive-fishing-widespread-southeast-asia">use cyanide fishing</a> back in the 1960s to capture live fish for aquariums and restaurants, though the practice has become less common. In 2023, a study from the <a target="_blank" href="https://mb.com.ph/2023/6/16/poisoned-waters-cyanide-fishing-though-not-common-anymore-is-still-being-practiced">Coastal Conservation and Education Foundation</a> in Cebu, the Philippines, found that some Filipino fishermen still used cyanide in the South China Sea.In response to the accusations, the Chinese state-linked tabloid <a target="_blank" href="https://www.globaltimes.cn/page/202402/1307217.shtml">The Global Times</a> wrote that the Philippines had "groundlessly smeared" China over its cyanide claims. The outlet is known for sticking closely to Beijing's viewpoints.<h2>Scarborough Shoal, a pristine atoll that's now a hotbed for tensions</h2><a target="_blank" href="https://www.businessinsider.com/scarborough-shoal-is-red-line-amid-us-china-tension-in-south-china-sea-2018-10">Scarborough Shoal</a> has been a focal point for territorial disputes in the South China Sea and is claimed by China, Taiwan, and the Philippines.<div type="image" title="The Scarborough Shoal is contested by The Philippines, China, and Taiwan." height="1183" width="2024" msid="107814580" hostid="261"></div>The atoll, abundant with resources, has been used by Filipino fishermen for decades and was claimed by Manila in the 1930s. But China has more recently said the Chinese astronomer Guo Shoujing discovered the shoal in 1279, and Chinese fishermen had plied the area throughout history.In 2016, an international tribunal in the Hague overwhelmingly ruled <a target="_blank" href="https://www.theguardian.com/world/2016/jul/12/philippines-wins-south-china-sea-case-against-china">in favor of The Philippines</a> in a case deciding the ownership of the atoll. China rejected the ruling.Beijing has since <a target="_blank" href="https://www.nytimes.com/2016/09/05/world/asia/south-china-sea-philippines-scarborough-shoal.html">patrolled the region</a> with warships and coast-guard vessels, establishing de facto control of the atoll and often chasing out Philippine fishermen.<div type="image" title="Filipino fishermen aboard their wooden boats sailing past a Chinese coast guard ship near the China-controlled Scarborough Shoal, in disputed waters of the South China Sea." height="3236" width="4854" msid="107814582" hostid="261"></div>Meanwhile, fishing groups in the Philippines have said <a target="_blank" href="https://globalnation.inquirer.net/195237/worse-than-invasion-china-ships-poach-240000-kg-of-fish-daily-in-ph-seas-says-group">hundreds of Chinese vessels</a> are entering the region and overfishing its waters. Researchers in Quezon City accused Chinese vessels in 2018 of <a target="_blank" href="https://globalnation.inquirer.net/195237/worse-than-invasion-china-ships-poach-240000-kg-of-fish-daily-in-ph-seas-says-group">damaging the atoll</a> so much that the destruction could be seen on Google Earth.More recently, the Philippines accused China's coast guard of using "dangerous" maneuvers to harass and <a target="_blank" href="https://news.yahoo.com/philippines-accuses-chinese-boats-dangerous-100712380.html?fr=sycsrp_catchall">block a Philippine ship</a> delivering supplies to fishing vessels.The Bureau of Fisheries and Aquatic Resources and the Chinese embassy in Manila didn't immediately respond to requests for comment from Business Insider.

Chinese fishing vessels are going scorched earth and pumping cyanide into contested waters, Philippine fishing authority says

Riled over low margins, <a href="http://www.businessinsider.in/searchresult.cms?query=petrol+pumps&amp;sortorder=effectivedate">petrol pump </a>owners are planning to shut their outlets on Sundays from May onwards and also operate only from 9am to 6pm to cut costs. 
 
They have threatened to call a “no purchase petrol and diesel day” on May 10 and subsequently shut outlets every Sunday. The weekly Sunday off will start from May 14. 
 
They are demanding higher margin by the<a href="http://www.businessinsider.in/searchresult.cms?query=Indian+government&amp;sortorder=effectivedate"> government</a>. 
 
The petrol dealers association said the 'No Purchase Day' is aimed at telling state-run oil marketing companies that they are opting for 'war path'. 
 
They had earlier withdrawn a strike in January after the OMCs promised dealers to revise commission. They said the agitation would continue till the business becomes viable and higher margins are announced. The decision was taken at a meeting of the consortium of Indian Petroleum Dealers, which has 53,000 members. 
 
"The decision would be applicable after May 10 unless the government intervenes. The resolution has been taken as the oil companies have not released the dealer margins since 2011," said Ravi Shinde from the Petrol Dealers' Association. 
 
Currently, many outlets function between 6 am and 10 pm while some are open round the clock and seven days a week.

Petrol pump owners threaten to shut outlets on Sundays from May. Here’s why

Mumbai, Mar 21 () Fuel outlets in the megapolis and the suburbs will remain open but with skeletal staff on Sunday and will operate only from 7 am to 7 pm from Monday till March 31 as the city is under lockdown. The curtailed operations on Sunday is in response to the voluntary curfew call to public by the prime minister, the city's dealers body said. "The timing will be revised at the end of this month," the Mumbai Petrol Dealers Association said on Saturday. Curtailed time is an attempt to reduce risk of exposure to the pump attendants and yet keep the essential service open to the public albeit in limited hours, the statement said. "No employees will lose their salaries for reduced working hours," the statement added. The 213-odd fuel pumps normally operate 20 hrs a day. It can be noted that Maharashtra chief minister Uddhav Thackeray had ordered closure of all private offices and shops selling non-essential items in Mumbai, and the adjoining metropolitan areas, Pune, Nagpur and other major cities of the from the midnight of Friday through March 31 as the state continues to top the number of Covid cases. The state was the second to report a casualty in the country when a Mumbai resident died of the virus last week. BEN MKJ

City fuel pumps to remain open on Sunday and lockdown days: Retailers body

Petrol dealers across the nation have threatened that they will go on full strike on November 15th, if their demands to increase commission aren’t fulfilled. Presently, the dealers are on a two-day no-purchase strike. 
 Also, it has been confirmed by the Consortium of Indian Petroleum Dealers (<keyword id="281869" type="ORGANIZATION" weightage="20" keywordseo="CIPD">CIPD</keyword>) that from tomorrow onwards, fuel will be sold on <keyword id="116241" type="UNKNOWN" weightage="20" keywordseo="petrol-pumps">petrol pumps</keyword> for limited hours and the petrol pumps won’t be operating on Sundays or any government holidays. 
 <keyword id="1073643" type="PERSON" weightage="20" keywordseo="Rajiv-Amaram">Rajiv Amaram</keyword>, joint secretary of CIPD, a one-day strike will be observed by all the petrol pumps across the country id the companies don’t pay heed to their demands. He also said in Telangana alone, over 1,400 truckloads of petrol and diesel was not lifted yesterday and today by petroleum dealers in the state. 
 
"We have stopped purchasing petroleum products yesterday and today. From tomorrow, we will sell petrol or diesel or any other product according to government office timings like 9 AM to 6 PM. We will also not sell on Sundays or any other government holidays. If the government does not listen to us then we will call for a strike on November 15," Amaram told PTI. 
 The CIPD has demanded implementation of the recommendations made by the <keyword id="3765562" type="UNKNOWN" weightage="20" keywordseo="Apoorva-Chandra-committee">Apoorva Chandra Committee</keyword> in 2011 which were over Rs 4 for petrol and about Rs 3 for diesel per litre

Petrol pumps may observe nationwide strike on Nov 15th, here’s why

<ul class="summary-list"><li>President <keyword id="99719" type="UNKNOWN" weightage="60" keywordseo="joe-biden" source="Orion">Joe Biden</keyword> announced on Tuesday that the US had banned Russian <keyword id="11917806" type="UNKNOWN" weightage="60" keywordseo="energy" source="Orion">energy</keyword> imports.</li><li>This includes imports of Russian <keyword id="11896879" type="UNKNOWN" weightage="60" keywordseo="oil" source="Orion">oil</keyword>, liquefied <keyword id="6354703" type="UNKNOWN" weightage="60" keywordseo="natural-gas" source="Orion">natural gas</keyword>, and coal.</li></ul>President Joe Biden announced on Tuesday the US would ban Russian energy imports, stepping up an economic-sanctions campaign to punish the Kremlin for its invasion of <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword>."We will not be subsidizing Putin's war," Biden said, calling the ban a "powerful blow" against Russian President Vladimir Putin's ability to sustain a military campaign in Ukraine.The ban will affect imports of Russian oil, liquefied natural <keyword id="11955852" type="UNKNOWN" weightage="60" keywordseo="gas" source="Orion">gas</keyword>, and coal. <a href="https://www.bloomberg.com/news/articles/2022-03-08/biden-set-to-ban-u-s-imports-of-russian-oil-as-soon-as-today?sref=lAVQtUwz">Bloomberg first reported</a> the latest sanctions on <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>.The president acknowledged that not every European country would join in a blanket ban on Russian energy imports."We're moving forward with this ban understanding that many of our European allies and partners may not be in a position to join us," Biden said, adding that the US was much less reliant on Russian oil."We can take this step when others can't, but we're working closely with Europe and our partners to develop a long-term strategy to reduce their dependence on Russian energy as well," he added.Separately, the European Commission <a href="https://ec.europa.eu/commission/presscorner/detail/en/ip_22_1511">unveiled a plan</a> Tuesday morning to diversify gas supplies and speed up the rollout of renewable gases, which it said could reduce EU demand for Russian gas by two-thirds before the end of the year.Biden didn't shy away from <a href="https://www.businessinsider.com/gas-price-outlook-forecast-biden-russia-crude-oil-ban-sanctions-2022-3">discussing the effects the ban</a> would have on inflation. Average national gas prices hit a record high of $4.17 a gallon on Tuesday, <a href="https://gasprices.aaa.com/">according to AAA</a>, breaking a record set in July 2008."This is a step that we're taking to inflict further pain on Putin, but there will be costs as well here in the United States," Biden said. "I'm going to do everything I can to minimize Putin's price hike here at home."The development came amid an escalating financial campaign from the US and its Western allies directed at crushing the Russian economy and punishing Putin. The US and other European nations have already taken steps to cut off Russia from <a href="https://www.businessinsider.com/us-putin-sanctions-russia-central-bank-war-chest-ukraine-crisis-2022-2">accessing international cash reserves</a> and propping up the rapidly falling value of the ruble.Sanctions have also sought to bar Russian financial institutions from using SWIFT and making transactions across borders. But the campaign had stopped short of cutting off gas and oil imports, something a growing number of lawmakers from both parties wanted.Republicans and Democrats on the House Ways and Means Committee and the Senate Finance Committee had been drafting legislation over the weekend to that effect. But the White House stepped in on Monday to keep them from rolling out their bill, two aides granted anonymity to share internal discussions told Insider.One of the aides said: "They wanted to scoop us, I'm sure."<a href="https://www.businessinsider.com/antony-blinken-active-discussions-to-ban-russian-oil-imports-2022-3?r=US&amp;IR=T">Secretary of State Antony Blinken</a> told NBC Sunday that the US was in "very active discussions" with Europe about banning the import of Russian oil. Jen Psaki, the White House press secretary, <a href="https://www.whitehouse.gov/briefing-room/press-briefings/2022/03/07/press-briefing-by-press-secretary-jen-psaki-march-7th-2022/">said</a> Monday that Biden had talked to "a number of his European partners" earlier in the day about a ban on Russian gas imports but no determination had been made.Compared with Europe, the US has little reliance on Russian energy supplies. The US imported 8.5 million barrels a day of crude and refined products, such as gasoline or heating oil, last year, <a href="https://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_ep00_im0_mbblpd_a.htm">according to data from the Energy Information Administration</a>. About 672,000 barrels, or 8% of the total, were from Russia.The European Union gets <a href="https://markets.businessinsider.com/news/commodities/too-big-to-sanction-10-facts-russia-oil-commodity-exports-2022-3#natural-gas-2" target="_blank" rel="noopener noreferrer">about 40% of its natural gas</a> from Russia, which has the <a href="https://www.businessinsider.com/europe-buying-russian-gas-ukraine-invasion-putin-sanctions-2022-2?r=US&amp;IR=T" target="_blank" rel="noopener noreferrer">world's largest reserves</a>. Russia is also the <a href="https://markets.businessinsider.com/news/commodities/too-big-to-sanction-10-facts-russia-oil-commodity-exports-2022-3" target="_blank" rel="noopener noreferrer">third-biggest oil producer</a>, accounting for about 12% of global oil production."We must become independent from Russian oil, coal, and gas," European Commission President Ursula von der Leyen said in a <a href="https://ec.europa.eu/commission/presscorner/detail/en/ip_22_1511">statement</a> Tuesday. "We simply cannot rely on a supplier who explicitly threatens us."The West had been <a href="https://www.dw.com/en/european-leaders-wary-of-cutting-off-russian-oil-and-gas/a-61045570" target="_blank" rel="noopener noreferrer">hesitant</a> to stop energy imports from Russia because it would need to find other sources and prices could soar, which would hurt Americans' wallets. Mark Zandi, an economist at Moody's Analytics, <a href="https://twitter.com/Markzandi/status/1501194503893491716?s=20&amp;t=Xm4SQtvBT5WG7G8IwoWMOQ">wrote on Twitter</a> that the price of gas could hit $5 a gallon and $150 a barrel.The Russian government has tried pressuring the West against stepping up its financial campaign. Alexander Novak, Russia's deputy prime minister, said on state television Monday that a ban on Russian oil would lead to "<a href="https://markets.businessinsider.com/news/commodities/russia-warns-300-dollars-barrel-oil-europe-natural-gas-supply-2022-3" target="_blank" rel="noopener noreferrer">catastrophic consequences</a>" for the global market and cause oil to surge to $300 a barrel, "if not more."Crude-oil prices jumped higher after the reports. Brent-crude futures rose 4.6% to $128.88 a barrel. West Texas Intermediate futures rose 4.1% to $124.33, while UK heating-oil futures rallied 10% to $1,320 a ton.

Biden announces ban on Russian oil and gas imports, preparing Americans for 'Putin's price hike' and rising costs at the pump

<ul class="summary-list"><li>The American Automobile Association said <keyword id="4869" type="PERSON" weightage="60" keywordseo="Fuel">fuel</keyword> prices could soar after the <keyword id="1968507" type="PERSON" weightage="60" keywordseo="Colonial-Pipeline">Colonial Pipeline</keyword> cyberattack.</li><li>Some <keyword id="6355653" type="UNKNOWN" weightage="60" keywordseo="gas">gas</keyword> stations reported running out, and the shortages could hit the aviation industry, too.</li><li>Average national retail prices for gas rose to $3.05 a gallon last week, according to the EIA.</li></ul>Gas prices in the US have hit $3 a gallon at gas stations - and experts warn that they could rise further as the US' largest fuel pipeline remains offline following a cyberattack.<a href="https://www.businessinsider.com/colonial-largest-us-fuel-pipeline-operator-shuts-down-operations-after-cyberattack-2021-5">Colonial</a>, the largest US refined fuel pipeline operator, reported a cyberattack involving <a href="https://www.businessinsider.com/what-is-ransomware">ransomware</a> Saturday that took some systems offline and forced it to temporarily halt operations. The FBI said Monday that <a href="https://www.businessinsider.com/pipeline-cyber-attack-darkside-hacker-group-shutdown-ransomware-money-politics-oil-2021-5">DarkSide</a> was behind the attack.The 5,500 miles of pipeline carry nearly half the fuel consumed by the East Coast.Some gas stations are now running low on supplies, but the <a href="https://newsroom.aaa.com/2021/05/gas-prices-jump-six-cents-on-week-likely-to-climb-higher-with-major-pipeline-shutdown/">American Automobile Association</a> (AAA) urged drivers against panic buying, advising them to reduce their fuel consumption instead.<a href="https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&amp;s=EMM_EPM0_PTE_NUS_DPG&amp;f=W&amp;f=W">The Energy Information Administration</a> said Monday that the average national retail prices rose to $3.05 a gallon last week, the highest since November 2014.Read more: <a href="https://www.businessinsider.com/investing-advice-for-biden-infrastructure-spending-tax-hike-plans-jpm-2021-4?inline-read-more">JPMorgan lays out how to invest in the biggest stock-market beneficiaries of Biden's newly released tax and infrastructure-spending plans - and shares the potential losers to avoid</a>The AAA forecasted further price hikes following the shutdown of the Colonial Pipeline.AAA spokesperson Jeanette McGee said in a statement that the impacts of the cyberattack would vary regionally. She said that Mississippi, Tennessee, and the east coast from Georgia into Delaware are "most likely" to suffer from fuel shortages and price increases, which she said could be between $0.03 and $0.07.The AAA said that other areas of the country "will see little impact."Prices at the pump have been rising steadily as <a href="https://www.businessinsider.com/lyft-drivers-making-record-earnings-driver-shortage-ride-hail-2021-5">the US economy reopens</a> after crashing dramatically last spring, hitting lows of around $1.80 in late April 2020.Some motorists have been stocking up on fuel amid reports of shortages. <a href="https://twitter.com/GasBuddyGuy/status/1391395401136316416?s=20">Patrick De Haan</a>, head of petroleum analysis at fuel-supply monitoring site GasBuddy, said that this "will make the problem much much more acute and likely double or triple the length of any supply event, if it comes to that."<a href="https://twitter.com/GasBuddyGuy/status/1391972648331120644">GasBuddy data</a> late Monday night showed that nearly 7% of gas stations in Virginia had run out of gas.The fuel shortage is also affecting the aviation industry.Tom Kloza, global head of <keyword id="6357014" type="ORGANIZATION" weightage="100" keywordseo="energy">energy</keyword> analysis for the Oil Price Information Service, told <a href="https://edition.cnn.com/2021/05/09/business/gas-price-spike-fears/index.html">CNN Business</a> that many major East Coast airports only keep enough jet fuel to last between three and five days. Some, such as Atlanta's Hartsfield Jackson Airport, get their fuel directly from the Colonial Pipeline, he added.American Airlines, meanwhile, <a href="https://www.reuters.com/business/energy/american-airlines-adds-fuel-stops-two-flights-after-pipeline-outage-2021-05-11/">added additional stops to two long-haul flights</a> from North Carolina so that the planes could refuel.Colonial said <a href="https://www.colpipe.com/news/press-releases/media-statement-colonial-pipeline-system-disruption">late Sunday</a> its four mainlines remained offline, but that some smaller lateral lines between terminals and delivery points were operational again. It added <a href="https://www.nytimes.com/2021/05/10/business/colonial-oil-pipeline.html?campaign_id=4&amp;emc=edit_dk_20210511&amp;instance_id=30579&amp;nl=dealbook&amp;regi_id=146666288&amp;segment_id=57737&amp;te=1&amp;user_id=3a2e2327fa43b8ed339e87400d4d613c2327fa43b8ed339e87400d4d613c">Monday</a> that it hoped to restore most operations by the end of the week.The AAA said other pipelines, alongside <a href="https://www.businessinsider.com/colonial-pipeline-us-issues-emergency-measures-after-fuel-cyberattack-2021-5">the Department of Transportation's temporary hours-of-service exemption</a> for tanker trucks transporting fuels, "will be able to ease the strain, but not resolve the issues caused by the pipeline interruption."The association added that there could still be delays even after the pipeline is running again, because it takes between 15 and 18 days for fuel to flow from Texas to New York.

Drivers face $3 gas prices after the Colonial Pipeline cyberattack, and some gas stations have run out completely

<ul class="summary-list"><li>Biden could cool gasoline prices, one of the biggest drivers of today's historic <keyword id="11894140" type="UNKNOWN" weightage="60" keywordseo="inflation" source="Orion">inflation</keyword>.</li><li>The White House is reportedly eyeing options as lawmakers and Americans call for a fix.</li></ul>While Biden <a href="https://www.businessinsider.com/the-gop-is-ecstatic-that-biden-is-struggling-inflation-2021-11">can't do much</a> about overall inflation, he has a few options when it comes to rising gasoline prices. And he's being urged to choose one.Prices of nearly every good and service in the US are soaring at <a href="https://www.businessinsider.com/inflation-cpi-october-price-growth-index-supply-chain-crisis-recovery-2021-11">the fastest pace since 1990</a> — especially when it comes to energy. With Biden's <a href="https://www.businessinsider.com/joe-biden-approval-rating-polling-pandemic-response-independents-obama-comparison-2021-10">approval r</a><a href="https://www.businessinsider.com/joe-biden-approval-rating-polling-pandemic-response-independents-obama-comparison-2021-10">atings plummeting</a> and Americans' <a href="https://www.businessinsider.com/republicans-inflation-soiling-economic-recovery-outlook-consumer-sentiment-partisan-split-2021-11">recovery ho</a><a href="https://www.businessinsider.com/republicans-inflation-soiling-economic-recovery-outlook-consumer-sentiment-partisan-split-2021-11">pes dashed</a>, lawmakers on both sides of the aisle are pressuring his administration to fight back.Energy prices climbed 4.8% in October, according to the <keyword id="11916720" type="UNKNOWN" weightage="60" keywordseo="consumer-price-index" source="Orion">Consumer Price Index</keyword>. Gasoline prices leaped 6.1% — the largest one-month jump since March. While the president can't quash broad inflation like the Federal Reserve can, but the White House has a few tools to solve the problem.<h2>Biden has 3 options to fight inflation at the pump</h2>Likely the easiest one to leverage is the Strategic Petroleum Reserve. The reserve is a government complex of deep underground storage wells that, as of Friday, hold more than 600 million barrels of crude oil. The SPR isn't usually used to change gasoline prices, but key Democrats are already pressing the administration to tap the massive stockpile."We're here today because we need immediate relief at the gas pump and the place to look is the Strategic Petroleum Reserve," Senate Majority Leader Chuck Schumer said during a Sunday news conference in New York. "Let's get the price of gas down right now. And this will do it."To be sure, using the SPR probably wouldn't solve the price problem for good. The reserve stores crude oil, meaning it would take some time for oil to be refined into pumpable gasoline. The stockpile is also limited and it can't permanently close the gap between driver demand and gasoline supply.But the world's most influential oil group has already denied Biden's calls for more product. The Organization of Petroleum Exporting Countries <a href="https://www.businessinsider.com/stock-markets-today-futures-hold-steady-before-us-jobs-data-2021-11">declined to boost production</a> earlier in November despite soaring prices and overwhelming demand.OPEC's refusal has led the White House to prepare a multifaceted approach for lowering prices. Along with tapping the SPR, the <keyword id="11908406" type="UNKNOWN" weightage="60" keywordseo="biden-administration" source="Orion">Biden administration</keyword> is mulling regulatory changes that would allow refiners to turn more crude oil into gasoline, according to <a href="https://www.bloomberg.com/news/articles/2021-11-12/biden-team-debates-whether-to-act-fast-on-gas-prices-or-wait">Bloomberg</a>. Among the actions is a relaxing of the rule to mix gasoline with biofuels. Easing the mandate would help more supply hit the market and, in turn, ease prices.The White House could also ban oil exports to keep more supply in the US, but administration officials have balked at such measures so far. Holding back exports could hurt relations with other countries, particularly those the Biden administration aims to restore diplomacy with after disputes with the Trump administration, Bloomberg reported.No matter what Biden does to cool gasoline inflation, the fixes don't need to last forever. Energy prices will fall by 7% over the next 12 months, <keyword id="12539926" type="UNKNOWN" weightage="60" keywordseo="david-kelly" source="Orion">David Kelly</keyword>, chief global strategist at JPMorgan, said in a Monday note. Oil production is expected to "increase sharply" in the year ahead, he added.The eventual cooldown won't just dampen <keyword id="11994710" type="UNKNOWN" weightage="60" keywordseo="gas-prices" source="Orion">gas prices</keyword>. A 7% drop in energy prices will subtract 0.5% from broad inflation, Kelly said. If the decline in energy prices is the only change in <keyword id="11995266" type="UNKNOWN" weightage="60" keywordseo="cpi" source="Orion">CPI</keyword> from October 2021 to October 2022, the inflation measure will still plunge to 3.5% from 6.2%, he added.In other words, the best long-term solution is to wait it out.

Biden has the power to lower your price at the gas pump, and he's facing increasing pressure to do so

Petrol pumps and LPG retail outlets based in Bengaluru and other urban areas of Karnataka might be mandatorily asked to obtain a No Objection Certificate (NoC) from the oil marketing companies in case they want to switch businesses. 
 
This means that oil companies too will need to approve the changes that the landlord decides in using the land. It was after the ministry of petroleum and natural gas sent a letter to the urban development department, asking it to treat retailing of petrol, diesel and LPG as essential activities that the department sent a circular to this effect to BDA and other state authorities. 
 
The new rule only applies to outlets that are affiliated to public sector oil marketing companies, leaving private retail outlets untouched. 
 However, the new rule has not met the consent of <keyword id="3511610" type="UNKNOWN" weightage="100" keywordseo="IT-Bangalore-Petroleum-Dealers-Association">IT Bangalore Petroleum Dealers Association</keyword>, which has expressed its grief. 
 
Association president BR Ravindranath said that the pumps are closing down because the landlords don't want to renew the lease keeping in mind the poor rentals that these state-run oil firms pay. 
 
"They want to pay peanuts for the land they get. Instead of making rentals attractive, they come up with irrational rules such as this infringing upon the fundamental rights of citizens," he told <a href="http://economictimes.indiatimes.com/industry/energy/oil-gas/noc-must-if-fuel-pumps-want-to-switch-business/articleshow/53374645.cms">ET</a>. 
 
"The oil marketing companies are making no efforts to retain the landlords, and as a result, more than a dozen pumps have closed down in the past two years," he added. 
 
<a href="http://blog.sajithm.com/wp-content/uploads/2008/07/20080703_132213.jpg">Image source</a>

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