Posted on 03/31/2022 1:22:23 AM PDT by John W
WASHINGTON (AP) — President Joe Biden is preparing to order the release of up to 1 million barrels of oil per day from the nation's strategic petroleum reserve, according to two people familiar with the decision, in a bid to control energy prices that have spiked as the U.S. and allies have imposed steep sanctions on Russia over its invasion of Ukraine
The announcement could come as soon as Thursday, when the White House says Biden is planning to deliver remarks on his administration's plans to combat rising gas prices. The duration of the release hasn't been finalized but could last for several months. The people spoke on the condition of anonymity to preview the decision.
High oil prices have not coaxed more production, creating a challenge for Biden. The president has seen his popularity sink as inflation reached a 40-year high in February and the cost of petroleum and gasoline climbed after Russia invaded Ukraine. Crude oil on Wednesday traded at nearly $105 a barrel, up from about $60 a year ago.
(Excerpt) Read more at currently.att.yahoo.com ...
He is merely a puppet. biden is not even in control of his bowel movements.
Brilliant! Let’s go into the full launch of WWIII this fall with zero strategic petroleum reserves! That’ll finally bring our country to its knees!
Ha!
Wasn’t the SPR created to fuel the military during a crisis? Here we are with a genuine military and geopolitical crisis in Ukraine which could quickly lead to a real need for SPR oil and he drains the reserve to boost his popularity. He is destroying our military readiness and war fighting capability by these reckless actions.
Then what? Then the oil reserve will be empty. With a possible hot war looming, a fuel sucking naval war perhaps, we are emptying the STRATEGIC reserve. THESE PEOPLE ARE FUKKIN DANGEROUS.
It’s sabotage, like looting the survival food and water in a life raft for snacks, before the boat has sunk.
WWIII is at our doorstep and this bumbling fool wants to use up our reserves to drop fuel by a few cents? That should be a high crime, and once again not a word from the GOP about this!
idiot, why not pull our pants down
The Mid-Term variant.
Must bring back the cheat-by-mail-in ballots.
Insanity. Doing the same thing over and over again expecting different results the next time!
It’s called eating the seed corn.
Good for today, bad for the future.
To bad he couldn’t tap into some common sense.
And by winter we will be out of oil...
No, the entire reserve is good for a few days. These jerks never run the numbers based on consumption versus strategic petroleum reserve supply, which, by the way is a reserve in times of WAR and natural disasters. It is not meant as an attempt to correct market supply.
Biden has this mental block of not wanting to drill for oil on USA land. He wants us to be dependent on foreign lands!
Weekly U.S. Percent Utilization of Refinery Operable Capacity
Depleting our reserves at a time when war with Russia is very possible.
Brilliant.
what a waste - and now our reserve will be low for when we need it for national defense.
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