Biden to release 10M more barrels from Strategic Petroleum Reserve in November in wake of OPEC+ cuts

Fox Business ^ | October 5, 2022 12:52pm EDT | Caitlin McFall

[conservative98]

President Biden on Wednesday said he would release 10 million more barrels of oil from the U.S.’s Strategic Petroleum Reserve (SPR) in November in a move to counter raising gas prices again.

His decision was announced just hours after Organization of the Petroleum Exporting Countries (OPEC+) said it would be cut oil production by 2 million barrels a day.

The cuts will restore the oil market for top producers like Saudi Arabia and Russia but are also expected to drive up costs at the pump globally.

But Biden’s attempt to circumvent the spike in gases prices expected to hit the market in time for the midterm elections may not prove all that effective.

[jimwatx]

The strategic reserve was meant to be used in an emergency, apparently the Dems losing the midterms is just such an emergency to Brandon and his crew. So now it will be empty if we were to experience a real emergency.

[FlingWingFlyer]

It appears the communist democrat party owes the Strategic Petroleum Reserve the cost of 10 million barrels of oil they are using as a campaign donation. The oil does not belong to the RATS. It’s the American people’s oil. We need to sue the ass off of the Nazi RATS. Hopefully, the Muslims will shut off all OPEC production until after the first of the year.

[GOPJ]

The reason white liberal 'elites' in DC hate Trump is Trump earned the money DC elites have to steal from the American people to create a similar lifestyle.

Folks like Nancy Pelosi and her husband are bottomless pits of greed and 'money hunger'. There's not enough money to steal/milk from the system to satisfy their hunger. Democrats come to DC middle class and a few years they're all multimillionaires.

So, where's the money going? Eventually into the pockets of DC's corrupt 'elites'...

[Betty Jane]

Gas up 30 cents overnight in my area of Tennessee

[Pajamajan]

Thought this was only supposed to be used for emergencies?

What could possibly go wrong with draining it so Rats can hide the massive economic damage they've done to this country?

[dsrtsage]

“Pretty soon it will be an empty hole in the ground that could have had 714 million barrels of oil set aside for emergencies.”

But it is an emergency. The election is in like 30 days

[clearcarbon]

Once the SPR empty we’ll be dependent on oil imports at whatever the market price is. Expect gasoline to become unaffordable and rationed, and biden will tell you you should have bought an electric car while they were still cheap.

[ActresponsiblyinVA]

This is really reckless.

[KobraKai]

I would think the more depleted the SPR becomes, the higher the likelihood of a military attack against the the USA becomes.

[blackdog]

So now it’s OPEC+’s gas price increase?

[blackdog]

https://youtu.be/tl9nVK5Lx1c

[econjack]

...he would release 10 million more barrels of oil from the U.S.’s Strategic Petroleum Reserve (SPR) in November in a move to counter raising gas prices again influence voters in the November midterms.

There...fixed.

[C210N]

1 mil barrels release per day from the SPR, and open cuts by 2 mil barrels per day.

Like bailing the Titanic (aka, Olympic).

[EEGator]

Cue the band…

[central_va]

corn futures up.

[catnipman]

equals 5 days worth of new deficit ...

dementia joe trying to buy more votes ... this time with the taxpayers’ petroleum ...

[SmokingJoe]

Soon, there will be no more oil in the “strategic reserves” to release, and it will be deep in breezing winter, so what will Dementia Joe do then?

[4Liberty]

[catnipman]

dementia joe trying to buy more votes from the taxpayers’ emergency gas station ... heaven forbid the leftists fascists increase domestic PRODUCTION (climate change, you know; burning reserves must use less carbon than new production, right?)

[gitmo]

If war breaks out with Russia, we will use our EV tanks and jets.