Posted on 04/03/2024 10:49:14 AM PDT by Red Badger
In March, Energy Secretary Jennifer Granholm had stated that the SPR would be refilled by the end of 2024.
The Biden administration is reportedly putting a hold on plans to replenish the nation’s energy stockpiles, citing cost.
The Energy Department announced it would not be purchasing 3 million barrels of oil as part of an effort to refill the Strategic Petroleum Reserve, according to Bloomberg, saying it is “keeping the taxpayer’s interest at the forefront.”
The administration’s target for the buys is $79 a barrel, but its purchase of 2.8 million barrels last month averaged approximately $81 per barrel. Oil prices Wednesday on the West Texas Intermediate were over $85 per barrel.
Starting in 2022, President Joe Biden drained the SPR in a bid to lower high gasoline prices, ahead of the midterm elections, leaving the stockpile at its lowest point since the 1980s. In March, Energy Secretary Jennifer Granholm had stated that the SPR would be refilled by the end of 2024.
Citing pressure to keep gasoline prices low ahead of the November presidential election combined with the upward price pressure of summer gasoline blends, experts were skeptical about the administration sticking to the refill schedule.
“Joe Biden drained the SPR for political reasons, cut our domestic production for his climate agenda and now he’s leaving our critical reserve more vulnerable because he’s incompetent. As a result, Americans are paying more at the pump, more at the grocery store and our SPR is less full during a time of rising turmoil in the Middle East,” Daniel Turner, executive director of Power The Future, said in a statement.
Just great.
Easiest way to cripple the US military: cut off their fuel supply.
Gee, I’m shocked Biden would do this. /heavy sarc
Drill some holes and fill it from that at cost ,LOL
Weaponized absurdity. Learn to recognize it.
In 2020 Trump proposed to purchase 77 million barrels of oil @ $24 per barrel.
The Democrats stopped the purchase...calling it a “bail-out” for big oil.
So now...Biden will spend $79 - $84 per barrel.
The Democrats are “Real Men of Genius”...
Brilliant.
“Amateurs study tactics…Professionals study logistics.” General George C. Marshal.
This administration from the first played with political tactics without concern for the impact on and of logistics. Now it is biting them in the ass…or our asses as they never seem to be punished for their transgressions.
Hell, even Ray Charles saw this coming and he is blind…and dead!
Have to do whatever it takes to get re-elected! /s
Lucky for all of us there is world peace including in the Middle East at this time. Otherwise oil producing and shipping regions could cause a need for our strategic reserve which Biden depleted. /S
Matthew 24:6
You will hear of wars and rumors of wars, but see to it that you are not alarmed.
[because he’s incompetent.]
No, because he’s purposely crippling the country.
IOW, continuing the destruction of Manchurian Candidate Barack Hussein Obama.
I remember reading of Obama buying high dollar synthetic fuel for trucks in Afghanistan.
Maybe Biden is forcing the same or making the military ALL ELECTRIC.
To bad we don’t have any real Americans in Congress putting forth legislation abolishing the Dept of Education and use those funds to replace the oil Biden gave away.
The justification? A hollow promise of streamlining operations to focus on “key strategic areas.
Xi calls Putin it’s about time we make our move.
Take the money out of their salaries to refill it.
This was purposely done folks.....surprise !
Will never see that here in California, where it's between $5 to $6 a gallon. A cousin was visiting SF from Philadelphia last week, and he was amazed that we put up with paying 5 and a half bucks to gas up when he saw the gas station signs. That's why I drive an EV locally in these Biden times. It hurts if your fill-up costs over $80.
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