Joe Biden is preparing to order the release of up to 1 million barrels of oil per day from the nation’s strategic petroleum reserve. This is how he is going to control spiking gas prices, AP reports.
At the same time, he is doing everything in his power to destroy the oil and gas industry. This misuse of emergency fuel is meant to make him look good and get his poll numbers up while he continues to do the very things that will down the road make our gas and oil cost-prohibitive.
The overall release could be as much as 180 million barrels, according to people familiar with the plan, per Bloomberg. Oil dropped by $5 a barrel in a matter of minutes after the report.
Even the high oil prices [and the danger the EU is in] haven’t coaxed more production, the AP explains.
The president has seen his popularity sink as inflation reached a 40-year high in February, and the cost of petroleum and gasoline climbed after Russia invaded Ukraine.
Biden’s approval was 40% — the lowest of his presidency — in an NBC News poll out this week. And NBC is a Biden-friendly pollster.
The Biden administration announced the release of 50 million barrels in coordination with other countries in November.
After the Ukraine war began, the U.S. and 30 other countries agreed to an additional release of 60 million barrels from reserves, with half of the total coming from the U.S.
The Energy Department, which manages the reserve, says it holds more than 568 million barrels of oil. And those 568 million are meant for emergencies, not to make him look good with false hope.
Donald Trump Statement:
Updated with Donald Trump’s statement after publication.