Joe Biden Releases 50 Million Barrels of Oil from National Strategic Petroleum Reserve as Gas Prices

[mystery-ak]

Joe Biden Releases 50 Million Barrels of Oil from National Strategic Petroleum Reserve as Gas Prices Keep Rising

Charlie Spiering 23 Nov 2021
 
The White House announced Tuesday that President Joe Biden would release 50 million barrels of oil from the Strategic Petroleum Reserve.

The president argued in a statement the demand for oil was not able to keep up with the economy recovering from the coronavirus pandemic shutdowns, leading to higher prices.

“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,” the White House said in a statement.

Biden announced his decision as Americans prepare to hit the road for Thanksgiving travel at the same time prices show no sign of easing, as Breitbart News reports.

Gas prices have hit a seven-year-high as Biden struggles to find a solution to higher gas prices.

Biden failed to convince OPEC+ nations to produce more oil in November and tried to blame the higher prices on oil companies.

The White House is also arguing Americans have more money to use to help pay for more expensive gasoline.

In his statement, Biden reminded Americans that thanks to his policies, they “nearly $100 more per month in disposable income in their pockets” to help pay for the higher cost of energy and fuel.

Biden also boasted that his “historic” infrastructure bill invested in green energy with the goal of “a net-zero emissions economy by 2050 and reducing our dependence on foreign fossil fuels.”

more
https://www.breitbart.com/politics/2021/11/23/joe-biden-releases-50-million-barrels-of-oil-from-national-strategic-petroleum-reserve-as-gas-prices-keep-rising/

[Kamaji]

Meanwhile, Florida is considering something that would provide real, actual relief to people at the pump:  suspending the state's gas tax.

[mystery-ak]

Trump Slams Biden For Tapping the Strategic Oil Reserve

"For decades our Country’s very important Strategic Oil Reserves were low or virtually empty in that no President wanted to pay the price of filling them up. I filled them up three years ago, right to the top, when oil prices were very low. Those reserves are meant to be used for serious emergencies, like war, and nothing else," Trump released in a statement. "Now I understand that Joe Biden will be announcing an 'attack' on the newly brimming Strategic Oil Reserves so that he could get the close to record-setting high oil prices artificially lowered. We were energy independent one year ago, now we are at the mercy of OPEC, gasoline is selling for $7 in parts of California, going up all over the Country, and they are taking oil from our Strategic Reserves. Is this any way to run a Country?"

https://townhall.com/tipsheet/katiepavlich/2021/11/23/trump-slams-biden-for-tapping-the-strategic-oil-reserve-n2599532

[DefiantMassRINO]

Lipstick on a pig.  This won't offset the inflation caused by their terrible energy policies.  John Kerry's hot air won't be enough to keep America warm this Winter.

[Right_in_Virginia]

[Right_in_Virginia]

https://mobile.twitter.com/realalzeke/status/1463125427019563013

[mystery-ak]

Oil Prices Jump Higher as Market Rejects Biden Administration’s Strategic Reserve Ploy

John Carney 23 Nov 2021

Oil prices rose above $81 a barrel on Tuesday morning after the Biden administration announced the U.S. and other nations would release tens of millions of barrels of oil from reserves in a ploy to lower prices.

The price of Brent, the global benchmark, rose by more than two percent following the announcement that the U.S. would be releasing 50 million barrels from the Strategic Petroleum Reserves. China, India, South Korea, Japan, and Britain are also planning to release reserves, the White House said.

The Biden administration hopes the reserve release will tamp down the price of gasoline and combat inflation, which has become a major economic and political headache for the administration. The White House and the Federal Reserve earlier this year said that inflation was transitory and would remain confined to just a few areas of the economy, predictions that proved wildly offbase as inflation became widespread, rose to its fastest pace in decades, and appears to be accelerating further.

https://www.breitbart.com/economy/2021/11/23/reserve-release-backfires/

[IsailedawayfromFR]

I wonder why Biden would encourage Americans using more of that terrible oil that pollutes the environment when he says we only have a few short years left on earth by doing so?

[DefiantMassRINO]

So, Joe Biden is a Global Climate Change poseur?

[cato potatoe]

This is about 2.5 days of oil.  We consume 8 billion barrels per year.

[DefiantMassRINO]

[mountaineer]

Jesse Kelly
@JesseKellyDC
PRO TIP: The strategic oil reserve is for when we get attacked and need the fuel to keep our Air Force in the air. It’s so your cities and towns don’t get bombed into powder. With you and your family in them.

It’s not for when you get some bad poll numbers about high gas prices.
5:57 PM · Nov 23, 2021·