There has likely never been another more blatant misuse of the Strategic Petroleum Reserve (SPR) than the Biden regime’s reported plan “to release another 10 million to 15 million barrels of oil from the nation’s emergency stockpile…,” according to FOX Business.
This release from a reserve intended for national emergencies (wars [not proxy wars], natural disasters, etc.) seems specifically intended to improve Democrats’ chances of winning in the upcoming mid-term elections by lowering or preventing another hike in gas prices. In other words, not a national emergency, a political emergency.
According to Reuters, “Rising retail gasoline prices have helped boost inflation to the highest in decades, posing a risk to Biden and his fellow Democrats ahead of the Nov. 8 midterm elections, in which they are seeking to keep control of Congress.”
FOX reported, “The administration is also expected to provide details this week regarding its plans to restock the emergency oil stockpile.” The SPR is “at its lowest level since 1984,” according to Forbes. However, replenishing emergency oil reserves is likely to cost financially strapped American taxpayers big time.
Under a plan offered by President Donald Trump in early 2020, from another report from FOX Business, the U.S. would have paid “under $20 per barrel—but was blocked by congressional Democrats.”
Today, various market prices, such as those listed at OilPrice.com, report oil at around $85 to $90 per barrel.
Biden, who canceled the Keystone XL Pipeline and instituted so many other energy-company-killing policies, gave a speech today attacking the oil companies he’s targeted for destruction for increased gas prices. As usual, Biden blamed everyone and everything except for himself and his administration for high prices at the gas pumps.
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