Posted on 04/03/2024 11:40:39 PM PDT by Jonty30
President Joe Biden’s administration dropped its plan to buy oil to refill the Strategic Petroleum Reserve (SPR) due to rising oil prices.
The oil would have gone to Louisiana’s Bayou Choctaw SPR site in August and September.
The administration canceled the purchase despite depleting the emergency supply by 43%, the lowest since the 1980s.
U.S. Won’t Buy Oil to Refill Strategic Petroleum Reserve The administration canceled the purchase despite depleting the emergency supply by 43%, the lowest since the 1980s.
Posted by Mary Chastain Wednesday, April 3, 2024 at 05:00pm 18 Comments FacebookTwitterTelegramLinkedInWhatsAppRedditEmail
President Joe Biden’s administration dropped its plan to buy oil to refill the Strategic Petroleum Reserve (SPR) due to rising oil prices.
The oil would have gone to Louisiana’s Bayou Choctaw SPR site in August and September.
The administration canceled the purchase despite depleting the emergency supply by 43%, the lowest since the 1980s.
The emergency supply holds 600 million barrels. The supply is at 363 million barrels.
Then again, the administration planned only to buy three million barrels. It’s still better than nothing, though:
(Excerpt) Read more at legalinsurrection.com ...
My friends think SDI. You know the Strategic Defense Initiative. Star Wars under Reagan. The democrats were dead set against it claiming it wouldn’t work. The idea was we wouldn’t have to use it.
Same with SPR. Initiated under Carter. In both cases the left is leaving us exposed.
fresh? the oil that’s been in the ground for thousands of years needs to be kept ‘fresh’ ?!!
think about that.
The deep state is running out of money. They sold off the SOR to get money to fund their activities. They don’t have the money to fill it back up. Now that the Ukraine, their secret piggy bank is being closed off by Putin the deep state is in a world of hurt.
“ That sort of thing seems very unlikely today.”
It was used in the aftermath of Katrina. No more huge earthquakes or hurricanes?
The Federal Reserve is not a Federal agency. It is not under the control of the Federal Government nor is it even subject to any U.S. Laws.
Here’s a question for you or any reader:
Biden sold of a large portion of our SPR. Where did the MONEY for that GO ?
Anyone know HOW MUCH was received ? Anyone know HOW MUCH was deposited and where ?
Anyone see a report indicating a change in our National DEBT ?
I have no answers to your questions, sorry, but when dealing with a corrupt government we can bet that there’s a whole lot of $$$ made by a few people when it sells off public assets
it worked the same with the sale of public assets by the Soviet Union
A gesture is what that amounts to.
The volume of the strategic reserve is tiny vs the world market, because thats what one is trying to do in a Katrina situation, temper the increase in global prices.
Spitting in the wind
I don’t hear much about “Audit the FED” any more. What does that tell you?
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