Posted on 03/01/2022 5:13:40 PM PST by thouworm
The White House on Tuesday confirmed the news, noting that the release will be done in coordination with International Energy Agency member states.
Half the total amount, or 30 million barrels, will come from the U.S. Special Petroleum Reserve, the White House said, while allies in Europe and Asia will supply the rest.
Last fall, Biden authorized the release of 50 million barrels from the reserve, seeking to tamp down high gas prices.
News of the release comes as prices for oil soared again on Tuesday, with futures for Brent crude climbing to more than $100 a barrel.
In a statement, the White House said the coordinated IEA effort marks yet “another example of partners around the world” condemning Russia’s unprovoked invasion.
(Excerpt) Read more at washingtonexaminer.com ...
$4 a gallon upstate NY
We don’t have that much left… might want to save some for… oh I dunno… WW3!?
MEANWHILE:
Manchin fumes as US buys 500,000 barrels of Russian oil a day amid Ukraine war
Like last release of the reserve, read the fine print. It was a joke.
Useless to the point of absurdity.
Trying to destroy us.
Just as well piss into the wind for all the good that’ll do.
When I was a child, I was taught that the strategic oil reserves were to be used on the event of war. Was never taught that they could used to manipulate markets.
Stupid...stupid...stupid...
30m barrels sounds like a lot. It’s not.
And the Cushing reserves are not anywhere near full. In a land that seeps oil, it’s amazing we are running out of it.
Open the pipeline back up, you dribbling fool.
LOLOL.....Well he has to figure out something to announce that would make us all ‘feel’ he’s trying to help....exactly what he himself created....
What’s that a 3 day supply.
That is about 600 million gallons of gas and 360 million gallons of diesel. That should last about 2 days.
Simple solutions are never in this demented Biden’s head......nor the Demorats. Besides Biden ‘s in bed with Russia on oil.
One disaster after another - the Biden administration.
It’s truly remarkable how destructive this administration is. I can’t say I didn’t expect it, but it is still remarkable the frequency by which we continue to have successive disasters.
30 million! Gas will drop to 1970 prices! Where the heck will they put all the gas ?
Well. it is getting close to the election. They have to dangle more carrots.
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