Posted on 07/12/2022 6:02:22 AM PDT by where's_the_Outrage?
“Pres Biden reportedly sold oil fr[om] American reserves to China’s Sinopec which Hunter Biden may still b[e] tied to via his financial ventures in China. If report correct that’s OUTRAGEOUS.”
— Sen. Charles E. Grassley (R-Iowa), in a tweet, July 8...
The Facts
This is all started with a straightforward Reuters article that appeared this month, headlined: “Oil from U.S. reserves sent overseas as gasoline prices stay high.” The article noted that government data showed that more than 5 million barrels released from the U.S. Strategic Petroleum Reserve (SPR) has been exported to Europe and Asia in June.
The Biden administration is releasing oil from an emergency supply of crude oil, stored in underground salt caverns along the Gulf Coast, that was first set up in the 1970s. Presidents have occasionally tapped the reserve to mitigate the disruption from an international event — such as the spike in oil prices caused by sanctions imposed on Russia for its invasion of Ukraine.
Buried in the Reuters article was this paragraph: “Cargoes of SPR crude were also headed to the Netherlands and to a Reliance refinery in India, an industry source said. A third cargo headed to China, another source said.”....
Crude oil is an international commodity. Its price is determined by global supply and demand. The Biden administration is trying to increase the supply of oil to help bring down prices that have soared as the United States and its allies have tried to stem purchases of Russian energy products.
What matters for the price of oil is how much oil there is — not who has it.
“Where it goes is essentially irrelevant,” oil industry consultant Philip K. Verleger said.
(Excerpt) Read more at msn.com ...
Washington Post is not an ethical, nor accurate source for news.
Betting China has pictures of the Bidens with children.
And not in a good way.
The Ministry of Propaganda has to lie to prop up the OBiden maladministration, it’s their job.
So the “fact checkers” are full of obama.
Pray we don’t have any hurricanes in the gulf. (Oil is fungible, but it would impact domestic markets if it remained here. Key word Domestic, which is not in the interest of the “Progressive “ globalists in DC.)
Nice try, but we are so onto your inept reporting, and just playing lying, WaPo.
Isn’t Kessler the comPost’s so-called fact-checker...?
🤣🤣🤣🤣🤣
“The Biden administration is trying to increase the supply of oil to help bring down prices”
Now there is one GD enormous lie.
Kessler’s argument would hold water only if it could be demonstrated that China bought less oil on the market as a result of buying SPR oil from Biden. My guess is that they continue to buy all the oil they can get and have shipped.
So bribery is irrelevant to the WaPo?
But citizens peacefully petitioning their government for redress of grievance is insurrection to them.
Gross over-simplification. Or more likely, the writers simply cut out the part where the caveats were stated.
China needs to fill up their warships for the invasion of the Republic of China.
The lie persists by media apologists for Biden. Anyone with an ICE and a wallet knows gas prices had been soaring under Biden months ahead of Putin's invasion.
Wapo...enemy of the people.
That is the stupidest comment I ever heard.
Where is goes is the bottom line... not “irrelevant”.
If it went HERE, then OUR supply would increase, and so price could drop.
WAPO! The King of Misplaced Outrage! Geez. What would we do without so many hypocrites?
The Washington Compost fails to mention that the 1 million barrels of oil that Biden sold to China from our Strategic Petroleum Reserve are going straight into China’s Strategic Petroleum Reserve and not into the market.
There will be no impact on pricing as a result.
Secondly, it strengthens China’s ability to withstand sanctions if they invade Taiwan.
WaPO must buy it’s kneepads by the container full.
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