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The Biden Regime canceled its plan to refill the Strategic Petroleum Reserve because oil is “way too expensive.” Biden drained the U.S. Strategic Petroleum Reserve to its lowest level in 40 years. Now, the Biden administration is CANCELLING their plans to refill it because oil is "way too expensive." pic.twitter.com/NYqEZ2Aosa — RNC Research (@RNCResearch) April 3, 2024 This comes as gas prices are once again skyrocketing. Recall that Biden drained the SPR to its lowest level in 40 years. Biden sold the U.S. Strategic Petroleum Reserves (SPR) to Europe, India and China. Joe Biden depleted the SPR to help China....

Joe Biden’s America. The Strategic Petroleum Reserve is near historic lows after Biden drained the SPR down to just 17 days of supply as war broke out in the Middle East. And Biden has no plans to refill it anytime soon.

The Biden administration has sold nearly 6 million barrels of oil from the U.S. Strategic Petroleum Reserve to an entity tied to the Chinese Communist Party, records show. From September 2021 to July, the Department of Energy (DOE) has awarded three crude oil contracts with a combined value of roughly $464 million to Unipec America, the U.S. trading arm of Chinese state-owned oil company Sinopec, according to a review by The Epoch Times of the DOE documents. A Chinese firm with ties to Hunter Biden had invested in the national oil giant. The sale would tap 5.9 million barrels in...

President Joe Biden’s administration sold 950,000 barrels of oil from the U.S. Strategic Petroleum Reserve to a Chinese state-owned gas company that has financial ties to a private equity firm cofounded by Hunter Biden, according to a Washington Free Beacon report. In April, Biden’s Department of Energy announced the nearly one million barrel sale to Unipec, which is the trading arm of Sinopec. Sinopec is wholly owned and operated by the Chinese Communist Party. Unipec reportedly purchases oil across the globe and then apparently sells it through its Sinopec Marketing subsidiary. According to Unipec’s LinkedIn page: UNIPEC America, Inc. is...

...Most of the focus in Katrina's wake has been on oil prices, one reason the Bush administration has waived some fuel emission standards and released oil from the Strategic Petroleum Reserve. But just as worrisome to America's economic health are rising natural gas prices. Even before Katrina, the Energy Information Administration was projecting natural gas prices of $10.50 per MMBtu. As recently as 1992, prices were about $3.50. Fortunately, America has extraordinary reserves of natural gas located right off its coasts. Unfortunately, the environmental lobby has helped maintain a federal moratorium that puts 85% of what is known as the...

New York Senator Charles Schumer is famously famous for grandstanding, but of late he's outdone even himself. We mean the demand from him and 29 other Senators that the Bush Administration release millions of barrels from the Strategic Petroleum Reserve as a way to lower gasoline prices. As political theater, we suppose this is clever. By pretending that President Bush has control over oil prices, Mr. Schumer can blame him for $2-a-gallon gasoline. But as the Senator well knows, no President controls the price of either oil or gasoline, and releasing stocks from the SPR will not change the fundamentals...

“Without being specific, Kerry, a key member of the Senate Foreign Relations Committee, suggested the US could retaliate economically in other trade areas. He also said he does not want a release of oil from the Strategic Petroleum Reserve. A release 'is not relevant. It would take months for the oil to get to the market,' he said.” (Cathy Landry, "US Energy Chief Warns Of Gasoline Crisis," Platt's Oilgram News, 2/17/00)

(CNSNews.com) - Draining the Strategic Petroleum Reserve in the hopes of bringing down oil and gas prices "would put America in a dangerous position in the war on terror" -- and that's why President Bush won't do it, he said on Wednesday. "We will not play politics with the Strategic Petroleum Reserve," the president told reporters at the White House. "That petroleum reserve is in place in case of major disruptions of energy supplies in the United States." President Bush said the American people "face a determined enemy," and he said that draining the petroleum reserve would put the...

Thank you, Lord, for 40-dollar oil. Obviously the Almighty has a better understanding of our interests than we do. John Kerry lays a higher oil price as one more charge in his indictment of the Bushies. Motorists available for interviewing by TV reporters during daylight hours (otherwise known as senior citizens) lament two-dollar gasoline as a crime against humanity, if not a mortal sin. Meanwhile, six and half billion people need to eat, clothe themselves and find shelter, and do a little better job of it each year. That takes oil, at least as far as the eye can see....

FNC just had a news alert stating that Kuwait was shutting down two oil production facilities, one in the North near the Iraqi boarder, and one in the West of the country. The two facilities are responsible for 1/3 of Kuwait's oil output. Saudi Arabia is already operating at near capacity in order to make up for the lack of Venezuelan and Iraqi oil on the market.