The Strategic Petroleum Reserve has been slowly been refilled since about the beginning of 2024. It is currently almost up to the same level it reached in November of 1983. Unfortunately it took until about 2009 to get to its peak reserve amount.
Posted on 06/17/2024 5:10:05 PM PDT by E. Pluribus Unum
When Biden took office, he inherited the over 630 million barrels of oil left behind by the Trump and other previous administrations.
This was not far off the high of 727 million barrels in 2010.
Biden allowed the reserve to begin falling and then catastrophically depleted it to improve his party’s chances in the 2022 midterm elections. And he’s been at it again in 2024.
Now despite failing to refill the strategic oil reserve, he’s talking about emptying it further from the 300 million barrels or so in order to have an outside chance of winning the 2024 election.
Jennifer Granholm, Biden’s Secretary of Energy, the former notoriously inept and radical governor of Michigan, promised in March that the administration would somehow begin refilling the SPR despite high energy prices.
US stockpiles of crude oil in its strategic petroleum reserve (SPR) will equal or exceed the levels seen before a huge 180-million-barrel sale two years ago, US Secretary of Energy Jennifer Granholm said at a conference on Monday.
In March 2022, President Joe Biden announced that 180 million barrels of crude from the reserve would be sold over six months – the largest SPR sale in history – to combat soaring energy prices in the wake of Russia’s war in Ukraine. The US is now replenishing the SPR and hopes to bring stores back to the levels seen before Moscow’s invasion, Granholm told the CERAWeek energy conference in Houston.
Spoiler alert: she lied. Biden will be emptying the SPR bone dry instead.
“The Biden-Harris Administration is laser-focused on lowering prices at the pump for American families, especially as drivers hit the road for summer driving season,” Secretary of Energy Jennifer Granholm said in May.
The government spending money to buy oil and then release it (while blocking domestic drilling) isn’t actually saving American...
(Excerpt) Read more at frontpagemag.com ...
https://www.cfr.org/backgrounder/how-does-us-government-use-strategic-petroleum-reserve
Additionally, there are concerns about the state of the country’s oil infrastructure and the implications for the SPR. A 2016 review by the Department of Energy warned that aging surface infrastructure, including storage tanks and pumps, will begin to compromise the SPR’s capabilities.
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maybe aging equipment reason for closing?
Can we get over this “Biden” says this or does that. That stupid fook can’t remember what day it is. It’s whoever is pulling the strings that makes these decisions.
The DOE this year moved to a direct purchase strategy of oil for the reserve instead of basing the purchasing price on an index. That and the completion of maintenance at Bayou Choctaw has helped it buy 38.6 million barrels of oil for at an average of $77 per barrel, it said.
America is producing 13.2 million barrels per day.
No need to drain the SPR.
This man can’t find his way off a stage, he is gone . So here we are involved in a conflict with Russia who now has warships within several hundred miles of our border. We are double agent with Israel and Hamas, whoever is running this nightmare has allowed illegals to smother American cities and they are depleting oil reserves to win an election for a vegetable. We are headed towards a catastrophic event and no one in rot-gut Washington DC is doing a damn thing about it.
democrat voters have to be on the lowest end of the intelligence spectrum.
...... Republicans are always surprised and caught off guard by what the Democrats do and are willing to do to win this election. Releasing the rest of the oil would help in moderating and lowering prices for the short term .... And takes away a talking point from the Republicans.
..... That's all they need to do at this point with the election just around the corner .... Democrats are the masters of illusion and skillful and talented at creating "Single Phrase" and "One Liner" Talking points that their Rank and File can easily remember and repeat with ease. Ronald Reagan and Trump understood and understand the value of this .... The Republican Party on the other hand doesn't .... and so are left with always needing to explain concepts and ideas in long drawn out explanations .... While factual and educational .... It sadly loses the Low Information and undecided voter audience in many cases.
...... The Democrats know what they are doing. They are bent on winning at all costs, legal or not.
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Does this amount of oil DUmped on the market significantly affect the price of gas?
Doing Chinas bidding.
Yes. But it's not the Soviet Navy. They did not survive the aftermath of the Cold War. They have some boats in their navy but it's a joke.
We are in the minority here that feels Biden knows exactly what he is doing despite his public mumbling and shuffling.
I would be so happy to see campaign ads showing this sort of thing and maybe even asking, is it right for the Dems to bribe you for a vote to the detriment of our nation?
Just good charts and graphs showing the results of policies like this one, or forgiving student loans, etc.
Treason against the United states.
It pretty much has to physically damage them but the WH denies it.
I went looking for a link that clearly explained it from the last go around but since they denied it-they buried the link in denials to never be found again.
🙋 this is why I used the word subversive.
he is putting our nation st risk, emptying out reserves, instituting outlandish energy reforms, engaging and working to crash the economy , no borders, creation of govt police state...i could go on.
Subversive is pretty bad and that what he is doing . we gotta face it who is behind thos crazy old man...
we need to start naming names and no supposition of whos doing what right now its gotta’ be made public.
Their internal poll numbers must be in the shitter, even beyond stealing it with massive fraud.
🙋👍
&
subverting the energy needs of the USA
The only analogy that comes to mind here, is likening what #FJB is doing to what Saddam Hussein did on his way out of Kuwait, lighting all the oil wells on fire to destroy the country's source of income & wealth.
That's exactly what Shitshow Joe is doing right now to the USA.
If he can't own & rule it like the fascist tyrant he is, he's going to destroy it. That's exactly what's happening right FN.
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