Posted on 09/12/2022 5:19:48 PM PDT by george76
Biden’s administration is getting more and more desperate as the Midterms loom as the pace at which they are draining the nation’s so-called ‘strategic’ reserve of crude oil just went to ’11’.
Last week saw almost 8.54 million barrels withdrawn from the SPR – the biggest weekly drain in history.
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This unprecedented collapse of the Strategic Petroleum Reserve to its lowest since September 1984 has helped lower oil prices (from their record highs)…
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the price of gas at the pump is still up 76% since Biden was .
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But ‘average joe’ doesn’t care about ‘president joe’ actions to weaken the nation’s “strategic” reserve to save his party from a bloodbath in the Midterms
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But, do not launch the “Mission Accomplished” campaign quote yet as even Treasury Secretary Janet Yellen is warning that oil prices may increase in the winter
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And if oil goes up… so will gas prices.
Of course, what few want publicly discussed is the need to refill the SPR at some point soon… and the natural marginal bid that will place under the price of crude (but hey, that will be Republicans’ problem
Expect gas prices to spike right after the election.
If George w Bush had tapped the Strategic Petroleum Reserve in 2008 after gas price spiked to $4.gallon following premature fiscal & monetary stimulus, including those checks that helped Pelosi buy the election while Bush implicitly said âÂÂmy pro growth tax cuts have failedâÂÂ-& Pelosi is right about growthâÂÂâÂÂâÂÂinstead of blaming $4 gas on âÂÂdemand from India & Chinaâ which was not true & nobody believed itâÂÂâÂÂ-Obama wouldnâÂÂt have won the 2008 election & we probably wouldnâÂÂt have had a recession. I was thinking today about NAFTA, which McCain said was necessary as a North American union to compete against the emerging European UnionâÂÂ-was very much about the Bush oil family finding a sneaky way to get their hands on state-owned Mexican oil
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