Biden Games Gasoline Prices (election ahead?)
By Allen Brooks -- May 23, 2024
“The hypocrisy of the Biden administration taking credit for lower gasoline prices as the summer driving season begins by fulfilling a Congressional mandate is unsurprising.”
“We now have the amazing scenario where days before the start of the hurricane season, Democrats in Congress and Biden are willing to empty the gasoline reserve.”
The Department of Energy announced Tuesday that it would begin selling the one million barrels of gasoline in the Northeast Gasoline Supply Reserve. Bids for the supply are due May 28th with delivery expected by June 30th. Bids will be accepted for lots of 100,000 barrels. The supply represents 42 million gallons of gasoline and is held in commercial storage tanks in Maine and New Jersey.
The sale was mandated by the omnibus Congressional spending bill (HR 2882) approved in late March with procedural hijinks by Senate Leader Chuck Schumer. If you remember, it was during the final hours of the Friday before the week-long Congress’ Easter Recess that the House passed the legislation 286-134 providing funding to keep the government operating through its September 30 fiscal year-end. The bill was passed over to the Senate which passed it in the early morning hours of Saturday and forwarded it to the White House for President Joe Biden’s signature that evening. Importantly, more Democrats than Republicans in the House voted for the bill as more than 100 Republicans voted against it.
We now have the amazing scenario where days before the start of the hurricane season, Democrats in Congress and Biden are willing to empty the gasoline reserve. Energy Secretary Jennifer Granholm said in a statement, “By strategically releasing this reserve in between Memorial Day and July 4th, we are ensuring sufficient supply flows to the tri-state and northeast at a time hardworking Americans need it the most.” How funny that the Biden administration is taking credit for helping consumers by following through on a Congressionally mandated action.
https://www.masterresource.org/strategic-petroleum-reserve/biden-games-gasoline-prices-election-ahead/
