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When Biden took office, he inherited the over 630 million barrels of oil left behind by the Trump and other previous administrations.
This was not far off the high of 727 million barrels in 2010.
Biden allowed the reserve to begin falling and then catastrophically depleted it to improve his party’s chances in the 2022 midterm elections. And he’s been at it again in 2024.
Now despite failing to refill the strategic oil reserve, he’s talking about emptying it further from the 300 million barrels or so in order to have an outside chance of winning the 2024 election.
Jennifer Granholm, Biden’s Secretary of Energy, the former notoriously inept and radical governor of Michigan, promised in March that the administration would somehow begin refilling the SPR despite high energy prices.
US stockpiles of crude oil in its strategic petroleum reserve (SPR) will equal or exceed the levels seen before a huge 180-million-barrel sale two years ago, US Secretary of Energy Jennifer Granholm said at a conference on Monday.
In March 2022, President Joe Biden announced that 180 million barrels of crude from the reserve would be sold over six months – the largest SPR sale in history – to combat soaring energy prices in the wake of Russia’s war in Ukraine. The US is now replenishing the SPR and hopes to bring stores back to the levels seen before Moscow’s invasion, Granholm told the CERAWeek energy conference in Houston.
Spoiler alert: she lied. Biden will be emptying the SPR bone dry instead.
“The Biden-Harris Administration is laser-focused on lowering prices at the pump for American families, especially as drivers hit the road for summer driving season,” Secretary of Energy Jennifer Granholm said in May.
The government spending money to buy oil and then release it (while blocking domestic drilling) isn’t actually saving American families money.
It’s a bait and switch. And here comes the big one.
President Joe Biden is prepared to release more oil from the country’s strategic reserves if gas prices increase during the summer.
“We will do everything we can to make sure that the market is supplied well enough to ensure as low [a] price as possible for American consumers,” Special Presidential Coordinator for Global Infrastructure and Energy Security Amos Hochstein told the Financial Times. “I think that we have enough in the SPR if it’s necessary.”
We have less than 400 million barrels. And the purpose of the SPR is not an election-day stunt. There’s a reason that “strategic” is in the name.
We use 20 million barrels a day. At the current rate, that means we can last less than a month. Once Biden empties the SPR again, we may not be able to make it through a week.
We’re facing potential wars that would wreak havoc with global energy prices. And with international supply flows.
But the Biden administration doesn’t care about any of that. All it cares about is holding on to power by any means.
Foolhardy and dangerous. That’s what happens when a president is compromised on many different levels. Trump needs to jump on this while campaigning. How convenient to have no oil with a surplus of EV’s no one wants to buy. Wake up America, or rue the day, bigly.
Biden’s high energy prices policy for the past 3 years is deliberately intended to harm ordinary working and middle class citizens US especially.
The ultimate purpose of high energy prices is to to get people out of cars and into public transportation.
Biden and his administration want to force the working and middle class into even more massive dependency on big government and its bureaucracy.
That is how they acquire and maintain their power.
The Eco-Freaks the Anti Fossil Fuels idiots really thought Biden was going to bring a total end the Fossil Fuel Industry not a surprise since t he Eco-Freaks are dumb enough to fall for anything just look how they fell for the Save the Rainforests scam
A weeks supply? More like a day’s supply. 300 million barrels? Gone in an eyeblink. There are AT LEAST 280 million vehicles on America’s roads.
The illegitimate Alzheimer Joe Beijing Biden administration is a criminal enterprise.
Conservatives set up reserves, Democrats squander them.
The need for reserves is one of the fundamental principles.
Yes if you run out of something necessary, no matter what it is, you’re in real trouble. I have six gallons of water and plenty of food that doesn’t require refrigeration in reserve but I know it’s not really enough.
The Alzheimer Joe administration is wasting our oil reserves for election purposes and that should be a criminal offence. They’re such scumbags. Anybody who actually votes for them is just as contemptible and just as much an enemy of America.
On the upside, I met a chick yesterday who I really like and will make my regular girlfriend. Good looking, a good dresser and elegant. She’s older than me but I don’t care.
Another reason for selling oil is that it reduces the deficit in the short run to make Biden look better.
There’s nothing dems will not do for a temporary political advantage, consequences to the country be damned. Now the left is bragging that gas prices dropped a few cents, while they’re pulling from the strategic reserve. Dems would already be impeaching Trump if he did such a thing. I wonder if there’s enough there to keep prices down until the election.
Like Saul Alinsky said, “What you are after is power–the maintenance and wielding of power.”