Posted on 05/26/2024 5:31:03 PM PDT by E. Pluribus Unum
The Biden Administration announced Tuesday that it would release 42 million gallons of gasoline from the Northeast Gasoline Supply Reserve. The release, the Department of Energy explained, is “strategically timed and structured to maximize its impact on gas prices.” This will, according to the DOE, help lower prices at the pump during the summer months when prices tend to go up along with demand.
The Northeast Gasoline Supply Reserve was created in 2012 following Superstorm Sandy, which damaged two refineries and shut down 40 terminals in New York Harbor. Some New York gas stations went as long as 30 days without a supply of gasoline as a result of the supply disruption. The Obama administration established the gas reserve to prevent such a shock from happening again.
The 2024 Consolidated Appropriations Act, which became law in March, included language requiring the DOE to sell off the inventory from the reserve and shut it down once it was drained.
David Blackmon, energy writer and analyst, told Just The News that it was a shortsighted move on the part of Congress. There are all kinds of potential disruptions on supply, he said, that could make having a stockpile a good idea. “Just three years ago, Colonial Pipeline suffered a cyber attack. That was down for two weeks, and you've got a gas shortage all over the region,” Blackmon said.
Managing prices
In 2022, as the Russian invasion of Ukraine sent gas prices soaring ahead of the midterms, President Joe Biden tapped the Strategic Petroleum Reserve (SPR) to bring the politically inconvenient prices down.
Unlike the SPR, the Northeast Gasoline Supply Reserve was already slated to close, but the timing of the move suggests Biden still has a strong interest in managing gas prices ahead of an election.
(Excerpt) Read more at justthenews.com ...
When demand increases with fixed supply prices do what?
Liberals are probably cheering the draining of the oil supply.
Biden has sworn to end fossil fuels. He has no intention of refilling the SPR.
Grasshopper and the ant.
“Liberals are probably cheering the draining of the oil supply.”
Gasoline. Republican congress passed the budget bill which mandates closing this facility.
His puppetmasters require that America is left defenseless.
For those who may be unaware, this release from the Northeast Gasoline Supply Reserve is a complete (100%) release of what is stored there. Nothing remains for potential TRUE emergencies. This is purely a political action.
Oh my goodness. How dare you. Here, take this bar of Ivory soap and place it gently within your mouth. There you go. Now go on. Go to your room.
*One million barrels.
Just for kicks, the USA exported 27.069 million barrels of Finished Motor Fuel for January of this year and 22.187 million barrels in February.
*42 gallons to a barrel.
See: eia.gov
biden is the puppet of the enemy.
No, but he has every intention of totally eliminating our ability to fight for our own survival by setting us up to be conquered by the enemy he has allowed to enter our country.
it is all about getting votes, they know gas prices are a weekly reminder of Biden inflation
If the corruptocrats and biden have any interest at all it is in “replenishing” their grift. What a bunch of pathetic anti-American-taxpayer losers. May they (and their extended families) rot.
Right before hurricane season too. They are either tone deaf or just really want to see Americans suffer.
100,000 gallons of that gasoline is sitting in my back yard, South Portland. The gas rack is there (where gas trucks get their base product that is then mixed with special additives the gasoline sellers promote makes their brand special) just across the Fore River out behind a cemetery. (The trucks literaly have to drive through the cemetery to get to the refueling rack.) There may be other racks at the other storage bins that I am not aware of.
I clicked on a couple of the links, but I could not find any info on how the gasoline is kept for a long time without breaking up etc.
Stupid moves like this can really lead to problems. But..what else would we expect? I’m sure it’s not the last one we can expect with the type of “leadership” we have. Who’s going to stand tall & answer for this if the worst should happen? Should that happen, at least it would probably demand some real action on Biden’s part. Maybe that’s what he’s hoping for just before the election & it might render a few extra votes. Not mine tho, I might add.
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