Biden’s Lowering Gas Prices by Emptying Our Emergency Reserves

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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.


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Deb
Deb
5 months ago

What every tax payer needs to realize is that Trump filled these reserves at a much lower gas price than what the Dems are selling it to the American people. This should be an eye opener. We should be buying this fuel at what the cost was when the reserves were filled. We are being scammed.

Freeland-Dave
Freeland-Dave
5 months ago

Currently we consume roughly 20 million barrels of oil per day. 5% is 1 million and he’s getting it out of our oil reserves. Currently we produce close to 17 million barrels a day which means that we have to get 3 million barrels a day to break even on our consumption. So we drain out our oil reserves at the rate of 1 million barrels a day and buy 2 million from Russian sources because the other oil producers won’t pump more and sell to us and the Russians sell at a higher price than what we sold it for when we were energy independant until the clown in the White House put our necks in the noose by making us dependant on foriegn oil and gas at an inflated price.

What happens when our oil reserve is depleated in another year and a half and we have to make up the 3 million barrels that we will need just to break even on the 20 million barrels that we need every day?

What happens, as our population grows and we start consuming more than 20 million barrels a day and we’re still pumping only 17 million per day?

Sanctions against Russia and we buy it from the Ukraine which Russia is controlling at present. Question: Who is “The Big Guy” that’s been involved with oil and Gas in Ukraine and how much is he profiting from that association?

Next question: Since not long ago we were energy independant and selling oil to other nations at a lower price, and the world benefitted in lower energy costs, what is the best way to bring prices back down for fuel which effects the price of everything else, most emportantly our individual energy costs?

Last question, what is the price of gasoline for our politicians at the Capitol and do they pay sales and excise taxes on it?

Frank S.
Frank S.
6 months ago

Why don’t Biden and the Green New Deal cultists just fire up all those planet saving windmills and solar panels to make up the difference? Cause it is now and always will be impossible to make up that kind of loss of fossil fuel energy with unicorns and rainbows.

Freeland-Dave
Freeland-Dave
5 months ago
Reply to  Frank S.

You could cover the Earth with solar cells and wind powered generators and still not produce enough energy to run the planet. Not to mention the complete destruction of the echo system and massive killoff of every living thing on the planet. Plants don’t grow in the shade of massive solar cells and at an average efficiency of 15% the other 85% is released back into our atmosphere as heat and you still have to have oil and gas to manufacture those things and produce all the chemicals and medications that man needs to survive.

Keith Jay Stanton
Keith Jay Stanton
6 months ago

when “THEY” run out”’. “THEY” is US, we, me you, it’s OUR oil, not “HIS”. When ‘IT’ runs out,….WE are “out of luck’.

Platlin
Platlin
6 months ago

As soon as the reserve is drained a crisis will arise where we’ll need it and it won’t be there and the nation will come to a grinding halt. That’s the way these Globalists work, and I guarantee you they’ve already got the crisis planned out.