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Author Topic: Biden administration plans to buy 2.7M oil barrels to refill emergency stockpile  (Read 245 times)

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Offline mystery-ak

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Biden administration plans to buy 2.7M oil barrels to refill emergency stockpile
« on: December 03, 2023, 02:20:51 pm »
ublished December 1, 2023 12:13pm EST
Biden administration plans to buy 2.7M oil barrels to refill emergency stockpile
US replenishing national oil reserve with 2.7M barrels

By Megan Henney FOXBusiness

The Biden administration plans to buy 2.7 million barrels of oil to help replenish the nation's much-depleted emergency stockpile.

The planned purchase for the oil is at an average price of $79 per barrel, the Department of Energy said in a statement on Friday.

Biden sold off more than 40% of the Strategic Petroleum Reserve last year to help lower gas prices following the Russian invasion of Ukraine. In total, the White House tapped the reserve four times last year, including when Biden ordered a record-setting 180 million barrels of oil released from the reserve.

The repeated withdrawals left the stockpile at the lowest level since the 1980s, prompting accusations from Republicans that Biden had left the U.S. vulnerable to potential energy threats.

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https://www.foxbusiness.com/economy/biden-administration-plans-buy-oil-barrels-refill-emergency-stockpile
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Online catfish1957

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Re: Biden administration plans to buy 2.7M oil barrels to refill emergency stockpile
« Reply #1 on: December 03, 2023, 02:24:48 pm »
Just in time for it not to be a campaign issue.

Cleanup on aisle 7 Joey.
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Offline Bigun

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Re: Biden administration plans to buy 2.7M oil barrels to refill emergency stockpile
« Reply #2 on: December 03, 2023, 02:28:15 pm »
Doesn't say where the purchased oil is coming from? 

 *hmmmm*
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Online catfish1957

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Re: Biden administration plans to buy 2.7M oil barrels to refill emergency stockpile
« Reply #3 on: December 03, 2023, 02:30:05 pm »
Quote from: Bigun on December 03, 2023, 02:28:15 pm
Doesn't say where the purchased oil is coming from? 

 *hmmmm*

3 Guesses, and I am betting the 3 letters don't start with U. and S.
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