Biden implores US oil companies to pass on record profits | First Thing

President announces release of 15m barrels of oil from strategic reserve as he fights to keep gas prices in check before midterms. Plus, why spending time with strangers can make you happy

Good morning.

Joe Biden has called on oil companies to pass on their massive profits to consumers as he announced the release of 15m barrels of oil from the US strategic petroleum reserve.

What did he say? My message to all companies is this: you're sitting on record profits. And we're giving you more certainty. You can act now to increase oil production. You should not be using your profits to buy back stock or for dividends - not while the war is raging."

Why else is Trump in the news? Trump acknowledged in 2019 that letters he wrote to Kim Jong-un and later took with him upon leaving the White House were secret, according to recordings of an interview he gave to the journalist Bob Woodward.

Meanwhile, Trump signed a legal statement alleging voter fraud in the 2020 election despite knowing it was not true. He had been told the numbers underpinning the case were false before signing the document, a federal judge said yesterday.