Posted on 09/09/2022 8:03:58 AM PDT by Red Badger
The Biden administration is considering releasing more crude oil from the U.S. Strategic Petroleum Reserve (SPR) after the ongoing plan to sell oil from the emergency stockpile ends in October, Reuters reported Thursday.
The administration may continue to auction off oil barrels from the SPR past October to ward off the threat of increasing oil prices in late 2022, Biden’s Energy Secretary Jennifer Granholm told Reuters. However, a Department of Energy (DOE) official later stated that the White House was not mulling further SPR sales, according to Reuters and CNN. (RELATED: ‘Fleecing Taxpayers’: Here’s How Americans Will Pay For Biden’s Draining Of Emergency Oil Reserves)
Biden’s officials are looking for ways to increase global crude supplies since they concerned that oil prices will rise worldwide once European Union sanctions on Russian oil imports go into effect in December, a move that could exacerbate European fuel shortages, Bloomberg reported.
The Department of Energy (DOE) is continuing to enact Biden’s plan to release an average of 1 million barrels of oil per day for six months, according to a July press release. Biden announced in late March that he would approve SPR sales to bring down gas prices and increase global supply, according to a White House press release.
“They are timing emergency oil releases to the price of gas ahead of the midterms,” Institute For Energy Research Senior Vice President Dan Kish told the Daily Caller News Foundation.”Biden is deliberately selling off our emergency supplies and is doing nothing to replace them.”
White House Press Secretary Karine Jean-Pierre on Thursday touted the administration’s efforts to lower gas prices over the last three months during a press conference. The White House is fixated on lowering gas prices as it believes fuel prices most directly affect voters’ everyday lives and, therefore, their perception of the economy, Politico reported in late May.
“They say he (Biden) is trying to lower gas prices but he has done everything he can to halt domestic energy production,” Kish added. “They are playing with fire because there will be no additional supplies to make up for the SPR losses.”
The Biden administration has leased fewer acres of land for oil and gas drilling on federal lands and waters than any administration in the last 76 years to phase out the use of fossil fuels and meet its ambitious climate goals.
OPEC and OPEC+, which is led by Russia, agreed Monday to cut oil production beginning in October which may also hike prices that are currently declining due to fears of a global recession, according to The Wall Street Journal.
The White House and DOE did not respond to the DCNF’s request for comment.
This story has been updated to reflect Department of Energy statements that contradict Secretary Granholm’s comments to Reuters. The DOE told multiple outlets it is not considering further SPR releases at this time.
Naturally I have to assume that the big guy is getting his 10%.
I don’t think l can get more disgusted than l am with this treasonous prick.
Buy an EV and you’ll feel all better. Just don’t charge it between 5-8 p.m. 🤔😂👍
When the Democrats empty the U.S. Strategic Petroleum Reserve they’ll destroy the storage so it can’t be used again
So if we have an emergency and need this reserve it will be EMPTY. Anyway someone should tell these morons the release has zero impact on fuel prices.
“The Biden administration has leased fewer acres of land for oil and gas drilling on federal lands and waters than any administration in the last 76 years...”
While selling off the “emergency reserve” which is finite and declining.
Cue up the old movie scene of the two trains having a head-on collision.
> Buy an EV and you’ll feel all better. Just don’t charge it between 5-8 p.m. <
And as more and more EV’s hit the road, that time restriction will expand.
Eventually it’ll be between 3:15 and 3:45 AM.
Better set your alarm clock!
So Joe is going to totally drain the SPR and that will be that with nothing to show for it except complete stupidity.
He’s buying the votes of people who already vote Democrap...................
The question now is, "can we right the ship of state?"
They empty it, pay no price, and we fill it back up again. It’s like cleaning up someone else’s mess. Be advised that the democrats will always get more credit for cleaning our messes, real and imagined. It’s the MSM.
This alone proves that the empty suit
and the writer of the teleprompter
lack any "Common Sense"
You don't use up $45.oo Reserves to be replenished and replaced with $84.oo or $110.oo dollar petroleum
and consider that to be a 'good deal'.
If you have allies who are in need, you try to meet their need by producing more petroleum,
or else, they will no longer be your ally, and will become your enemy.
Yup. Gotta get it while he can. Same with Ukraine. When Obiden is out the kickbacks dry up.
Meaningless headline to cover their butts
President Trump is starting to look like a prophet. He said these people would transform our country into something unrecognizable.
your question is mine. If the answer is no then how will we live?
A graph of the plummeting volume of the SPR shows it falling off a cliff.
Biden is doing this for two main reasons:
1. Prop up Democrat candidates for the midterms.
2. Weaken the US.
The SPR was established for catastrophic emergencies like hurricanes, natural disasters, wars.
Biden is using the SPR for political purposes.
“I don’t think l can get more disgusted than l am with this treasonous prick.”
Yet, some how I do. This is the first time in my life I believe someone can be truly evil. How else can you explain this purposeful destruction of a country? His Labor Day speech? Evil.
Biden was picked to be obama’s mouthpiece. He is there to take the blame. This is obama’s real feelings toward the country.
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.