Posted on 03/31/2022 10:14:08 AM PDT by Carriage Hill
WASHINGTON, March 30 (Reuters) - The Biden administration is considering releasing up to 180 million barrels of oil over several months from the Strategic Petroleum Reserve (SPR), four U.S. sources said on Wednesday, as the White House tries to lower fuel prices. The latest amount of U.S. oil release being considered, which is equivalent to about two days of global demand, would mark the third time the United States has tapped its strategic reserves in the past six months, and would be the largest release in the near 50-year history of the SPR.
(Excerpt) Read more at reuters.com ...
Unbelievable that 1.5yrs into Bidet&Co's regime, they're still blaming POTUS Trump for what they did on Jan 21st, with 17 EOs canceling all DJT's previous work over his wonderful 4yrs, managing America's business.
Somebody knows how much is in the reserve?
Good thing the world is at peace and we won’t need the SPR for it’s intended purpose — fueling our military during global crisis and energy shortages.
Buy low, sell high.
So for The Treasury this is a good thing.
1:30 PM ET
President Biden Delivers Remarks on Lowering Gas Prices
President Biden Delivers Remarks on his Administration’s Actions to Reduce the Impact of Putin’s Price Hike on Energy Prices and Lower Gas Prices at the Pump for American Families. (Media note: NO UNREHEARSED QUESTIONS, YOU CAN SUBMIT IN ADVANCE SO WE CAN WRITE ANSWERS FOR BRANDON.)
watch live: https://www.whitehouse.gov/live/
Withdraw all of the oil from the SPR and put it on the market. A couple of hundred million barrels should drive prices down.
How much is in the SPR?
“There are 700 million barrels (110,000,000 m3) capacity”, is what I found on a search.
Too cute by half
Because our ships aren’t going anywhere. Maybe they can all plug into the nuclear carriers overnight to charge their batteries. //sarc
At 18mm a day, it would be short lived. And would leave us worse off.
I found this:
“...700 million barrels (110,000,000 m3) capacity.”
Thanks for the link!
At $100/barrel that would be 18 billion. What’s that, about one days worth of spending by our government?
</smirk>
Outrageous.
If the reason Biden keeps prohibiting acquiring our own oil because we don’t want to be using oil, then how does this even make sense?
So many reasons this is stupid and outrageous.
Of course! That’s what strategic means: “Save The Rat’s Asses Through Energy Give-aways In the Country.
To IMMEDIATELY be followed by China putting another Pearl Harbor surprise on us.
This country will not survive 4 years of The Biden/Pelosie/AOC/Schumer Party leadership.
Bad policy results are hardly an emergency. But I guess midterms are?
“How much gasoline does the United States consume? In 2021, about 134.83 billion gallons (or about 3.21 billion barrels) of finished motor gasoline were consumed in the United States, an average of about 369 million gallons per day (or about 8.80 million barrels per day).”
From a search.
Notice the “motor gasoline” phrase they used? Motors are electric, dumbass. ICE (Internal Combustion Engines) use gasoline or diesel fuel.
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