Posted on 06/29/2022 11:41:22 AM PDT by Red Badger
The United States will reassess additional releases of crude oil from the nation's Strategic Petroleum Reserves, White House Envoy Hochstein said on Wednesday, as the Administration struggles to rein in high prices at the pump.
The Administration has already vowed to release a million barrels of crude oil from the stockpiles every day into the commercial markets. The plan, anounced at the end of March, was to ultimately release 180 million barrels over a six-month period. The plan has so far depleted the nation's emergency crude oil stockpiles 67 million barrels to 497.9 million barrels as of June 24, according to the Energy Information Administration's latest data released today—the lowest level since 1986.
With more than 100 million barrels yet to be released under the existing plan, the nation's stockpiles would be less than 397 million barrels. On June 14, the Department of Energy announced that it would sell 45 million barrels of oil out of the SPR, with deliveries expected to take place between August 16 and September 30.
Releasing even more come October could send the SPR to levels not seen—ever.
(Excerpt) Read more at oilprice.com ...
How do we replenish if we cannot drill on our own soil?
Those reserves are for emergencies, not for covering up demopoop stupidity.
“How do we replenish...”
You don’t... that’s the plan....make America totally dependent on foreign oil that will be too expensive so it heards everyone to battery powered cars, that are recharged by fossil fuels 65% of the time.....makes sense doesn’t it.
BBBBB not N. DOH!
They have no intention of fixit anything. When JBs reported poll numbers are single digits they won’t fix anything. Poll numbers don’t mean anything in 2020 and less so now.
Biden's primary campaign promise was to destroy the "fossil fuel" economy to enforce a "transition" to green BS. This is intentional.
When it comes down to either life or using the natural resources beneath us... It will be the hill to die on.
When we’re out of oil, China takes Taiwan.
When we’re out of oil, China takes Taiwan, Russia take Lithuania, and Biden takes a nap......................
Biden is gonna take a nap today... he does everyday.. sometimes on camera even.
“How do we replenish if we cannot drill on our own soil”?
Biden will never replenish it. Guaranteed.
SPR hasn’t been this low since 1985
And it doesn’t matter, because the oil can not be refined. The USA is effectively at maximum refining capacity.
More Biden stupidity.
Well hell, let’s just run the reserve down to zero so that we have absolutely no safety net in case of emergency. Brilliant strategy by POTATUS.
Why in the hell would they put our country in military jeopardy when the last TWO releases did not do ONE DAMN THING to help the situation!! This utter MORON needs to DRILL BABY DRILL but he won’t do that!!
This is typical leftist behavior. I remember vividly the problem with the depleted inventory of ventilators when the Covid pandemic began The Trump administrawtion checked into what our stockpile was and it was nearly empty as the Obama administration never bothered to replenish the supply.
Another thing PDJGT did was to check into supplies of other medical items such as gloves, bandages, syringes, etc. Biden is such an idiot he filled all the afministrative-bureau jobs with incompetents who never ran any strategic office - only government offices which were not critical to the nations’ health and safety.
“And only a year and a half ago, the US was energy independent, and selling energy to other nations”
Who owns the oil in the strategic stockpile?
Also, since oil is sold to the highest bidder in the international market, what’s to stop our own oil producers from selling “our” oil to foreigners, which would drive our oil (gas, etc.) prices up.
This leads to the question, what does “energy independent” mean?
The EXCESS OIL IS BEING SHIPPED OVERSEAS!..........................
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