Biden Released Oil From The National Reserve As Gas Prices Continue To Climb

The White House announced this morning that it would be releasing oil from the nation’s petroleum reserve to combat America’s rising gas prices. The Biden Administration blamed the Covid pandemic for the economic hardship while simultaneously claiming that America is having a “strong [economic] recovery,” giving Americans “nearly $100 more per month in disposable income.”

The statement did allow two sentences acknowledging the “impact” Biden’s energy policies have effected Americans’ wallets.

From the White House statement:

“Even so, American consumers are feeling the impact of elevated gas prices at the pump and in their home heating bills, and American businesses are, too, because oil supply has not kept up with demand as the global economy emerges from the pandemic. That’s why President Biden is using every tool available to him to work to lower prices and address the lack of supply.”

Biden’s plan to fix the rising inflation and higher dependence on foreign energy is to have the Department of Energy release 50 million barrels of oil from the Strategic Petroleum Reserve. For reference, the United States consumes on average around 90 million barrels of oil a day. The amount the Biden Administration is releasing is not enough to cover a full day of American consumption.

The US Department of Energy will make available 32 million barrels over the next several months with the plan to replace the barrels “in the years ahead.” The plan is to combine the 32 million barrels with the 18 million barrels Congress already approved to sell in hopes this will drive down prices.

White House statement:

“Today’s announcement reflects the President’s commitment to do everything in his power to bring down costs for the American people and continue our strong economic recovery. At the same time, the Administration remains committed to the President’s ambitious clean energy goals.”

At a time when Russia and China are preparing to dominate the world’s energy markets, the Biden Administration believes lowering our oil reserve while canceling our pipelines is what will help “provide relief to Americans.” The White House statement continued to cover for Biden’s mishandling of our nation’s energy sector, claiming that “anti-competitive practices” by oil and gas companies are to blame for the nation’s high prices.

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