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 ...
Today, it cost exactly twice what I paid to fill my tank under Trump. I miss him!
Gosh, I didn’t know that.
Because I’m real stupid and all. 😏
Buy low, sell high.
Good plan.
Your thoughts on this statement:
I said to a friend today, “IMO, We are simultaneously financing Russia and poking it in its eye.”
Big deal. The USA uses between 18 and 20 million barrels of petroleum per day. 30 million barrels is enough for 1 1/2 days and has absolutely zero impact on fuel prices or the economy.
The world is at risk of escalation of international conflict, and potential war, but Biden chooses not to ramp up our production of oil, but to deplete our strategic reserves. What a tool.
A useless and dangerous attempt to counter the effect of supply shortages that he helped to create.
“Like last release of the reserve, read the fine print. It was a joke.”
As is this one. Pre-sotu sound byte for the ill-informed.
I am trying to figure out which is more idiotic, the US sucking into it’s strategic reserve when there is at least a 50/50 chance a REAL supply crisis will hit us soon, or, an ally sending us some of theirs, for a brief political boost of an incompetent.
We just need everyone to stay home for two weeks to slow the spread of higher gas prices.
Don’t drive, stay alive.
That’s about a day and a half.
“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.”
~~~~~~
“I can’t say I didn’t expect it...”
Me too...but truly breathtaking.
A blunder of untold magnitude. The current administration cannot do one dang thing correct! When our forces become engaged they are going to need every drop of oil available. This move will ensure it doesn’t happen.
So isn’t all of Europe....No national leader wants the oil cut off....many in Europe are hardwired to Russia because the pipelines do just that. I suspect Putin will continue to supply because he’s making tons of money with the prices as they are....and so are many Demorats invested in resources. Oil is like water to populations....if you don’t have it you can die from the cold, and nobody likes a cold dinner.
However those who want to see Nato and Russia at war...have been known to blast and disrupt the pipelines. I recall in Ukraine Maidan they were breaking open the pipelines and filling their jugs right there.
Short term waste just like Biden.
Oh goodie! That’s like 1 gallon for 10% of Americans. 🤣
Pissing into the ocean. Had no effect last time he did this. Will have none this time either. Dementia Joe is controlled by far-left America-hating lunatics. His destruction of our Energy Sector will remain policy as long as he is _resident.
That will last 10 minutes and all the profits will go to …. Uh… “The Big Guy..”!
What he fuming for? His dumb party shut our drilling down. We have to get it somewhere.
Oh great, we deplete our energy supply that is earmarked for emergency use in case of war involving OUR country, leaving the oil reserves dangerously low. Trump had filled up the reserves while gas prices were low. Now Biden is using it all up, and it will have to be filled up once again (only when Trump wins in 2024); only then we will be paying astronomically increased prices for the refill of the reserves because of inflation and Biden’s disgusting energy policies.
Thus Biden’s energy policies are destroying our ability for strategic use of oil to help out Ukraine and the EU to lessen their dependency on Russian oil. I won’t go into how the EU shot themselves in their own foot by their own Green Energy policies just like ours that treats oil/gas like the Bubonic plague. Fie on all of them.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.