Posted on 05/21/2024 3:14:37 PM PDT by Enlightened1
The Biden administration announced Tuesday that it will sell off 1 million barrels of gasoline held in case of emergencies — with the Energy Department explicitly citing an interest in keeping gas prices low over the summer driving season ahead of the November election.
The fuel will be released from the Northeast Gasoline Supply Reserve, a component of the Strategic Petroleum Reserve that was established in 2014 after Superstorm Sandy disrupted gasoline supplies in the New York City area.
“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,” Energy Secretary Jennifer Granholm said in a statement.
“By strategically releasing this reserve in between Memorial Day and July 4th, we are ensuring sufficient supply flows to the tri-state and northeast at a time hardworking Americans need it the most.”
(Excerpt) Read more at nypost.com ...
That won’t even make up for the new additional California state fuel tax
“… million barrels of gasoline held in case of emergencies…”
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2024 ELECTION—- EMERGENCY! EMERGENCY! EMERGENCY!🤦🏼🙀🤦🏼
“2024 ELECTION—- EMERGENCY! EMERGENCY! EMERGENCY!”
He is just complying with a law passed by Congress last March.
Boy, per my research, assuming it is correct....that’ll put a dent in pricing given the US consumes an average 8 million barrels PER DAY of gasoline. So about 3 hours worth of fuel consumption equates to a million barrels. Makes me sleep better at night, you bet.
I figured it would be a 3% price drop over four days of consumption. But then it goes away. Some help! /s
He must be planning multiple sales. Once won’t even be noticed.
I noticed a $2.98 regular posting earlier today in my red state
But the Democrat media hounds will play it up that "Biden's taking action to help consumers!". And most of the maudlin marginals who get their news from social media will believe it.
My car gets 38 miles per gallon. Nearest town is 5 miles away. I might just make it to town and back, maybe even twice! I might even get a gallon for the mower. Damn!
A million barrels is like a shot glass of gas.
I’m pretty sure the president has no control over the price of gasoline.
At least that’s what the administration and the MSM were shouting at the top of their lungs a few years ago when prices took a huge jump.
They would not lie or ever change their story would they. I know for a fact they consider themselves above reproach and always honorably informing us, the consuming public, all that we need to know, with 100% accuracy.
Friggin’ blue state I’m in is $3.49, and we have refineries! N.J. Highest taxed state if you look at all of the various taxes.
The local Murphy Bros was $3.03 last week. I noticed it was $3.39 today.
In 2023, U.S. finished motor gasoline consumption averaged about 8.94 million barrels per day...
I didnt know we had any left...
A million barrels isn’t even a day’s usage of gasoline.
Memorial Day increases, like every year?
What’s that? One day’s supply? And that strategic reserve was meant for military use when first instituted.
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