Biden Released Oil From The National Reserve As Gas Prices Continue To Climb – IOTW Report

Biden Released Oil From The National Reserve As Gas Prices Continue To Climb

Tatum Report

The White House announced this morning that it would be releasing oil from the nation’s petroleum reserve to combat America’s rising gas prices. The Biden Administration blamed the Covid pandemic for the economic hardship while simultaneously claiming that America is having a “strong [economic] recovery,” giving Americans “nearly $100 more per month in disposable income.”

The statement did allow two sentences acknowledging the “impact” Biden’s energy policies have effected Americans’ wallets. more

18 Comments on Biden Released Oil From The National Reserve As Gas Prices Continue To Climb

  1. Biden’s handlers announced with great fanfare that he would be releasing oil from the strategic reserve to help Americans. Turns out that he has already been “releasing” oil from our strategic reserve for months, but he’s selling it to Asian countries instead of using it to help Americans who paid for it with their taxes to begin with. Funny how they didn’t publicize this information.

    https://www.bloombergquint.com/markets/record-spr-crude-leaves-u-s-gulf-coast-as-biden-mulls-release

    From the link:

    “About 1.6 million barrels of crude from the U.S. Strategic Petroleum Reserve — a monthly record — was shipped out in October, according to data from market intelligence firm Kpler. Three cargoes were loaded onto a supertanker in the U.S. Gulf Coast and are headed to Asia.

    “Given the ongoing pace of the current SPR release — 12 million barrels in the last two months and the biggest weekly release so far last week at 3.1 million barrels — it’s fair to assume more SPR barrels are going to leave U.S. shores in the weeks ahead,” said Matt Smith, an oil analyst at Kpler.”

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  2. I’m not sure if anyone knows this but;

    In the Early stages of the Plandemic, Trump refilled & made Huge purchases for the strategic reserves to help the Oil producers, storage, and to save some Tax payer money. Win. Win. Win.

    The “emergency” is entirely Biden created.
    The Saudis Know that domestic Production is a fraction of what it could be, & several pipelines are cancelled and there is little competition currently. Sell High, Buy even Higher.

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  3. Reporter: “How many barrels of oil does the U.S. consume per day?”
    Biden’s energy secretary: “I don’t have that number in front of me”
    “Ohh, ohh, call on me Mr. Kotter.” – Arnold Horshack,
    18 million, so, a weekend with Bernie, err, Brandon, err, Biden.

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  4. According the authoritative sources and if those figures are correct.

    Then the 50M barrels of Oil will on produce about 1B gallon of Gas in a few days, after it reaches the refinery for processing.

    Those sources also say the USA uses about 340M gallon of gas a day. That means the Group running the Biden Admin added about 2.9# days of gas into the consumer chain.

    But it never fixed the cause of the price hikes….
    Their Pipeline shutdowns, extreme environmental agenda and still selling millions of barrels of petroleum products to other countries … like Communist China.
    eg. http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTTEXCH1&f=M

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