Strategic Oil Reserve Could be Further Depleted in Effort to Counter OPEC Cuts – IOTW Report

Strategic Oil Reserve Could be Further Depleted in Effort to Counter OPEC Cuts

National File:

President Biden is evaluating options on how to best counter OPEC’s recently announced production cuts. The administration could decide to release more oil from the Strategic Petroleum Reserve (SPR), an emergency stockpile created after the 1970’s Arab oil embargoes. Biden has already leaned on the strategic reserve — which is currently stocked at its lowest level since the 1980’s — in order to keep gas prices in check over the last six months.

Earlier this year, the Biden Administration announced that 180 million barrels from the reserve would be sold for six months beginning in May. Gas prices were surging past nationwide records at the time of the announcement. more

14 Comments on Strategic Oil Reserve Could be Further Depleted in Effort to Counter OPEC Cuts

  1. Here’s a novel idea – – why not re-open our domestic gas and oil production?

    Naawww, that’ll never happen cuz Traitor Joe knows the chinks would fire his ass in a Beijing moment and probably off his son!

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  2. This is another example of Democrats creating a problem and then creating another problem trying to solve the first problem.
    In other words, Democrats are bumbling imbeciles.

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  3. …when I was a kid, a popular type of computer game involved simple resource management that you’d use to build and advance armies until you could crush your opponent or be crushed by them.
    There were different types and different backstories, but the winning strategy for all was not to go head-on at your enenmy, but to send spies in to disrupt his production and antagonize him just enough to make him bleed his resources, mostly fuel, while you conserved yours, or even took his.

    Then, when he could no longer support his military, you crushed him, in some cases with his own fuel.

    …it’s felt a LOT lately that we as a nation are playing that game.

    …on the losing side.

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  4. When has Shitpants EVER made the right decision?

    That’s why they installed him. Same as his role model, Chocolate Jesus. But in his aviator glasses he’s as manly a sight as Barki lifting pink dumbbells in the gym.

    lol, dumbbells

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  5. Strategic Oil Reserves drained to the last drop. OPEC will insist their political interests are supported by the United States and even after compliance, oil still in short supply.
    Eventually, no more oil from OPEC -“just because”… Then, The US will beg Putin for help. The price for oil will be high and not supplied without more US sovereignty being compromised.

    Since China has Xiden by the um…balls, he will be told by the CCP he CANNOT turn back on the Keystone Pipeline. Now Xiden is between a rock and a hard place as planned by the Deep State.

    This results in blindsided Americans suffering economic collapse – no access to banks, no transportation, no healthcare/emergency service, food shortage, homelessness, no police or fire protection, no heat or air conditioning, etc. No relief. No help.

    That’s the scenario Marxists are counting on. As usually Satan counts God out of the equation. That’s always the enemy’s mistake. However, what the enemy meant for evil, God will turn to good. It’s not over.

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