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 ...
Straight from our strategic reserve to China’s strategic reserve. Yep that will help ... China.
“What is the jackarse going to do when the SPR is empty?”
It refills automatically kinda like Thor’s beer glass at Dr Strange’s.
Let me do the maths. OPEC cuts 2m bbd, US “unleashes” 10m barrels. So Biden is making up 5 days worth of opec production? Cool. The question is how much is going to China.
Biden's use of SPR hasn't boosted oil production. SPR is oil already produced and sitting in a storage tank. Boost in oil production means harvesting new oil from a well thereby increasing amount of supply. Word games in play.
Pulling oil out of the strategic petroleum reserve is NOT “producing” oil.
What good does it do us as he sells the oil to china at a reduced price?
Dig a new well or move?
In liberal lala land, it amounts to “boosting production”. They just make crap up as they go, and the media don’t even bother to question. Them
in Biden, we have the worst of Carter + Obama rolled into one. Get ready for Carter style gas rationing.
That is not “boosting oil production.”
Its dipping into an energy bank account.
The left’s nuances = bs peddled as fact
Agree I have yet to hear one communist complain about Biden’s actions.
It’s not by accident it’s a plan
I think it’s safe to say that she’s a hoor.
I know, I shouldn't have said that.
Over a dollar a gallon here in NH.
Exactly.
This is just a re-election buy off.
Wait until elections are over. Then they will really tighten the screws.
Check to make sure her well pump is in working order?
Dig a new well, which would pay for itself in not having to have water hauled in once a week.
She might not be a whore, but she’s definitely wearing a whore’s outfit…
10 million barrels?
If half of that gets converted to gasoline, that’ll be about 500,000,000 gallons.
Put that into 276,000,000 vehicles ( https://www.statista.com/statistics/183505/number-of-vehicles-in-the-united-states-since-1990/ ) and they’ll be able to drive maybe 40 miles each.
Gee; thanks, Joe!!
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