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 ...
“Why is this POS still in the White House? Why hasn’t the Militia formed and removed this anti American SCUMbag?”
Because he is Deep State and Harris is a commie. As bad as Biden is f’ing up the place, Harris will be worse in a way even the Deep State couldn’t handle.
Every one of Free Republic’s resident neocons support this anti American action to help buttress the will of Europeans in the war against Russia.
Because the support Ukraine above America.
Gross. Definitely Romans 1 territory.
What is amazing is that these releases are scheduled to end in October, right before the midterms, so prices will spike back up before people go to vote.
It looks like Biden is waiting to drop the federal gas tax until August, so it can continue for 3 months past election day. The original plan was July, August and September for the tax holiday....also leading to a spike in prices right before the election.
I cannot believe these people are that politically stupid. Something else is afoot.
Ha ha ha ha ha ha ha .... there is NO militia and there never will be.
They, in every way, stole an election right in front of our faces and dared us to do something about it. Nothing. And the very, very large majority of the people that did it, will be re-elected, because very few will run against the incumbents, especially on the local level, and most of the electorate will blindly vote for the Republican, no matter how much of a scumbag they are, just so the Democrat doesn’t win. Rinse and Repeat.
I rant about Georgia all the time on this forum, since that is where I’ve lived for the past 26+ years, because I’m witnessing REPUBLICAN elected officials sell out the state to any developer and liberal company that wants to come here and pour a foundation, all the while getting rich off the tax breaks and incentives these REPUBLICANS give them. Without any consent and usually done in secret.
Same exact thing is happening along coastal South Carolina, where the elected and bureaucrat Republicans are destroying EVERYTHING about the place for apartments and congestion. All because someone promised them more tax revenue.
I was always wondering how a townhouse complex could be built over wetlands. I thought wetlands were protected from any development. Guess not. Perhaps someone can explain.
Was Hunter the broker on the overseas oil deal? Or is he still hawking his “art”?
Good luck finding a mention of this on any MSM outlet. Maybe one of the FNC evening shows, maybe.
It’s like y’all don’t know how this works, or are pretending not to on purpose
Releasing reserves increases the overall supply in hopes of lowering prices, but private companies still sell it to whoever they want. It’s capitalism
This is why I read Brit papers that dont have a subscription like Daily Mail, Express, The Sun...they will post stuff on all sides of the aisle about the US
25th Amendment.
Oil is a global market.
I’d like to know the percentage that the strategic petroleum reserve has been drawn down.
If Biden decides to take out Putin, that oil might come in handy.
Of course he would. He don’t want us having any of it. He said he would get rid of it and when it was time to vote Trump called him out and biden lied and said he wasn’t doing that. Now he is doing what he said he would do. He didn’t win the election anyways I believe it was stolen but anyone that did vote for him this is what you get..
This isn’t new. Hes been selling it to China for months.
They said on the news most of those 5,000,000 BARRELS were sent to China.
A lot of shmucks like me are going to think that reserve is for America.
That’s not news. A 🏳️🌈 state Senator. In a New England state. In other words, the sun rose today.
One can only guess how much under-the-table kickback Hunter and The Big Guy are getting from these “Green” scams.
It has to be high into 8 or 9 figures.
that isn’t the crazy part of the story
Just a Democrat being a Democrat.
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