American Emergency Oil Reserves Being Tapped and Sent Overseas

Americans can’t catch a break at the gas pump so the Biden administration responded by sending U.S. oil reserves to help… overseas.

Despite the president’s insistence that gasoline suppliers cut their prices, it seems that the hypocrisy runs deep.

Reuters reported that”more than 5 million barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month.”

Americans are facing the highest prices in history while the very specific, only-for-Americans Strategic Petroleum Reserve (SPR) oil is being sent to other countries.

One million barrels per day, to be exact.

According to the U.S. Customs data, Phillips 66, the fourth-largest U.S. oil refiner, shipped about 470,000 barrels of sour crude from Texas’ Big Hill SPR storage site to Trieste. Located in Italy, Trieste is home to a pipeline that sends oil to refineries in central Europe.

Two cargoes of 560,000 barrels each were exported by Atlantic Trading & Marketing (ATMI), an arm of French oil major TotalEnergies.

Some industry sources claim that two SPR cargoes of crude oil are headed to the Netherlands and a Reliance refinery in India, with another source claiming a third cargo headed to China. 

Yet another source says that the West Hackberry SPR site in Louisiana is exporting a minimum of one cargo of crude in July.

American crude inventories are at the lowest since 2004.

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