In one of his most cynical moves yet, upon news that OPEC will cut production by 2 million barrels a day, Joe Biden decided to release ten million barrels of our emergency petroleum up to the election.
He’s doing it to keep the prices down, tricking non-observant Americans into thinking he has lowered gas prices legitimately. It’s nothing but a band-aid on a gaping wound caused by the Biden gas crisis.
Biden said it is to counter gas prices, but it’s to keep prices down for another month.
His decision was announced just hours after the Organization of the Petroleum Exporting Countries (OPEC+) said it would be cut oil production by 2 million barrels a day, Fox Business reports.
The cuts will restore the oil market for top producers like Saudi Arabia and Russia but are also expected to drive up costs at the pump globally.
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He extended the release right up to election day; what a coincidence.
The problem is Traitor Joe and friends don’t know how commodity markets work. Prices are a function of Future Demand. Prices will increase now, not after the election. The 10 Million Barrels will have almost no effect because the Markets know that the SPR supply will run dry early next year. Before next summer, we could see $10 gasoline and Gas Lines!
I filled my tank on Tuesday Morning. Gasoline was 2.929 at my local station. I drove by a few minutes ago and it was 3.178 at the pump. In less the 36 hours there was a two-bit increase. Gas prices are about the future market supply, so a 10 million barrel release from the SPR isn’t going to matter.
“Biden Uses Emergency Oil Reserves as Campaign Funds — Releases 10M Barrels” EXCELLENT title!!!The Democrats are very practiced in using public resources for their campaign funds.
See the following very good comments for what the future holds.
Biden’s ploy is to reduce our security with less reserve. Every major Biden policy is to hurt the USA.
A good gas price increase will ensure GOP victory in the senate. The only factor left to determine the election is fraud. Without fraud the GOP wins both houses.
Just wait until after the election is over and they steal another one, the raiding of the oil reserves will end and prices will go sky high for the next two years. “Unobservant Americans” is a nice way of saying “stupid Americans”. But hey, football season has started for both the pro’s and fantasy clowns, so all is well.
Right on! It seems like a high percentage of voters are shallow in their thinking skills department. Ignorant or deceived? “Fooled me twice, the more shame for me.