Posted on 07/06/2022 7:25:38 AM PDT by RummyChick
Joe Biden has shipped five million barrels from the United States' Strategic Oil Reserve abroad, after claiming that releasing them would help ease Americans' pain at the pumps.
The president faces accusations of a sneaky sleight of hand as it was revealed that between a fifth and a sixth of the reserve oil he bragged about releasing to boost supply made its way offshore to Europe and Asia in June.
Biden authorized the release of a million barrels a day from April onwards. But his action has done little to combat soaring gas prices, with the national average sitting at $4.74 as of Tuesday - still far above the $2.28-a-gallon average from just before he took office.
Biden's announcement about releasing the oil barrels was made in April, and saw him say: 'These releases will put more than one million barrels per day on the market over the next six months, and will help address supply disruptions caused by Putin's further invasion of Ukraine and the Price Hike that Americans are facing at the pump.'
But it has had little effect, with a closer look at the press release revealing that the oil released from the strategic reserve was always destined for the highest bidder - even if they were overseas.
That is due to strict international rules dictating the sale and supply of oil - although a regular American who listened to Biden's proclamation in passing would likely have believed that the increase in supply would have been destined for domestic refineries, to lower US prices.
'Crude and fuel prices would likely be higher if (the SPR releases) hadn't happened, but at the same time, it isn't really having the effect that was assumed,' said Matt Smith, lead oil analyst at Kpler.
(Excerpt) Read more at dailymail.co.uk ...
But he didn’t say WHERE he was going to help lower gas prices. Obviously not in the US.
Why is this POS still in the White House? Why hasn’t the Militia formed and removed this anti American SCUMbag?
Gas prices don’t bother branDUHn. We’re paying for his gas.
He is accelerating the pace of the crisis, not fixing it.
who brokered the deal, and how much are they paying America, and how much is that doddering putz of a president getting paid and by whom and to whom?
That’s after Biden told the oil companies to lower their prices because “it’s war time!”.
> Biden authorized the release of a million barrels a day from April onwards. <
The stupidity of this move aside, no president should have the power to do something like this on his own. If Biden wanted to release that oil, he first should have to go before Congress, and get permission.
We do not live in a monarchy. Well, on second thought maybe we do.
you have got to see this story...
The only way to save the world is sell China all the oil ? LOL
If our refineries are maxed out, Joe will claim we couldn’t have processed the oil anyway.
OMG!!! CHECK HIS OFFSHORE BANK ACCOUNTS!!
That’s they’re WHOLE PLAN.......DESTROY AMERICA.....they want to CONTROL EVERYTHING we do!!
the Vegetable’s handlers are just looking for cheap gestures and immediate headlines. Typical short-term, deep state political hacks.
America doesn’t have the refining capacity to handle any extra barrels.
So releasing barrels from the SPR is basically a PR gesture.
RHODE ISLAND is one sick place!
Gas prices are starting to creep down a bit in Georgia.
While they won’t go down to what they were during President Trump’s time in office, around $1.60, I’m betting that as time goes by and we get closer to November 8, 2022, the prices will gradually trickle down to what some would consider “acceptable”(idiots that they are) and all the Democrats will be touting CornPop’s policies as the driving factor for the reductions.
So, vote for the Democrats, they’ll give you cheap gas. Until November 10, 2022, when prices will go through the roof.
You will DEFINITELY need EYE BLEACH!
His impeachment list of articles keeps growing.
Some of the SPR oil may have ended up back in Russia.
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