Posted on 11/24/2021 7:58:15 AM PST by george76
U.S. taps 50 million barrels of oil from reserves in an attempt to tamper spiking costs at the gas pump..
resident Biden’s move to tap the U.S. Strategic Petroleum Reserve is expected to supply Chinese and Indian oil needs as gas demands have led to global shortages..
The White House said the Department of Energy will release 50 million barrels of oil held in U.S. reserves — 18 million of which have already been congressionally approved for sale.
China and India have been actively purchasing U.S. sour crude oil produced in the Gulf of Mexico
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U.S.-produced sour crude oil appeals to foreign buyers because of its relatively affordable price tag
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OPEC+, led by nations like Saudi Arabia and Russia, refused to increase production to meet rising demands.
Gas shortages have led to rising inflation and gas prices at the pump not seen in seven years.
(Excerpt) Read more at foxbusiness.com ...
Why ? why not here ?
Where else would “China Joe” send our oil?
It’s a world market so it probably doesn’t matter. Doesn’t look good though. The rats would be first to point out anything that looks funny to the gullible.
Well, they got him elected, so he owes them a favor or three.
I think I read where they already have been
“”” China and India have been actively purchasing U.S. sour crude oil produced in the Gulf of Mexico”””
For those who do not know, sour crude has a high percent of sulfur.
I guess it is ok to have China and India refine sour crude oil and pollute their air with sulfur dioxide.
Un-be-bleivable
That’s not going to help us.
So drain the strategic reserve and send the oil to China. That makes sense.(Makes for a great 2022/2024 campaign commercial)
Hunter is destined to “sell” more paintings!
WHAT did I tell you yesterday? I predicted our precious oil reserves, meant for emergencies such as being at physical war, would find their way to China—leaving us high and dry. Biden and his entire cabinet, plus Piglousy, Schumer, et al really really need to hang.
Since we use about 19-20 million barrels a day, that will make no difference at all.
will someone who understands the oil industry explain how releasing the oil to China helps the American consumer?
The Chinese are willing to pay, so they get the goods.
> Why ? why not here ?
It’s tribute. A way of saying “please don’t hurt us”.
Another Brandon disaster.
A drop in the ocean...................
Exports of US Oil are expected to increase in 2022 helping the US Tanker industry - read the Daily Splash Article on Nov. 17th.
More and more the China-Biden connection is getting clear. I am of the opinion that the WH claim that Russia is preparing to invade the Ukraine is another hoax just to cover for the China favoritism. Russia, Russia, Russia!!!
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