Posted on 10/05/2022 9:16:49 PM PDT by algore
President Joe Biden will order more oil released from the Strategic Petroleum Reserve as gas prices are on the rise and OPEC announced it was making its biggest cuts in production in more than two years.
Biden will release another 10 million barrels this month and he will 'continue to direct SPR releases as appropriate to protect American consumers and promote energy security,' White House National Security Adviser Jake Sullivan and economic adviser Brian Deese said in a joint statement.
In the statement, the administration also called on oil companies to 'keep bringing pump prices down by closing the historically large gap between wholesale and retail gas prices.'
The administration continued to renew its call to decrease the country's dependance on fossil fuels and warned it will work with Congress on ways 'to reduce OPEC's control over energy prices.'
Earlier this week, White House press secretary Karine Jean-Pierre said there were no plans to continue releases from the strategic reserve
Gas prices, which had been on a 99-day decline, have jumped in recent days by as much as 60 cents per gallon in some regions of the country.
But the announcement of Wednesday's release from the reserves came after the OPEC Plus energy alliance announced the production cuts in an affort to raise prices as Russian President Vladimir Putin continues his invasion of the Ukraine.
Biden and European leaders have urged more oil production to give consumers some relief at the pump and to punish Putin for his invasion.
The president has overseen the largest sale of oil from the Strategic Petroleum Reserve ever in the wake of Russian invasion of Ukraine. Biden has released 160 million barrels of crude since March, bringing the reserves to its lowest levels in four decades
(Excerpt) Read more at dailymail.co.uk ...
Hey....yesterday he said to a Stupid Florida Mayor....”Noboby F*CKS with a Biden”!!
It would be nice if the reserve has to have a minimum amound of oil in it, so if it gets below a certain level production would increase. I doubt it though.
It wouldn’t surprise me if Biden draws it down so much, but then buys oil from China. (And therefore gets his 10%!)
Biden isn’t “producing” any oil; he is depleting one existing account and putting it on the open market to depress retail prices for gasoline. “Production” means a net addition to existing stocks - this is a net reduction to such US stocks. Only the fevered mind of an 80 year old doddering fool could pitch that.
The Daily Mail is nothing but propaganda on every issue.
She dressed even worse as a teacher in Wilmington back in the 90’s.
Real good idea around 15-18 y/o boys...
Using the Strategic Petroleum Reserve in this manner (to manage gasoline prices in order to survive the mid-terms) is tantamount to running your power grid on windmills and solar cells. It’s the same flawed reasoning of “Hey, all I need is enough batteries!”
How will they manage that?
“Hey OPEC:Nice infrastructure you got there. Be a shamed if something happens to it #nordstream”
Will Xo Xidung be selling the oil to his son’s business associates in China and taking his usual 10%?
Releasing strategic reserves prevents domestic oil production, as anyone with the simplest background in economics could figure out.
They spoke about and the media broadcasted it... So the problem is fixed!!
Gotta disagree on that one... I get more real real news outta that site about my own country than all others put together... Just sayin...
100% of the articles on the Ukraine v Russia war are all pro-Ukraine. That’s impossible.
As stated, my country... They have no problem showing the world what kinda filth is destroying our country, ignored by our media on a daily basis. To me that is more important than the Ukraine war.
What is your country?
Not gonna do this with you man... 95% of the news we see on this site alone about the ferals poo flinging at the zoo are daily mail sourced. As long as there is ANYONE willing to broadcast that problem in the USA has, will continue to get clicks from me. Their reluctance to report your view of the Ukraine war is no different from the countless creepers who who call us putinistas or whatever the fad term is these days... Peace...
Creepers - freepers
We use 18.7 million barrels per day….so he released a half days worth while killing our emergency reserves!!
...that the USA has*
Ummm, how is robbing the strategic reserve boosting production?
It’s just slight of hand. Typical Obama tactic.
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