The Briefing Room
General Category => Science, Technology and Knowledge => Energy => Topic started by: Hoodat on December 31, 2022, 09:16:47 pm
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America’s Strategic Petroleum Reserve Falls to Lowest Level Since 1983 as Gas Prices Rise Again
Nick R. Hamilton | December 31, 2022 | 10:06 am
The Strategic Petroleum Reserve (SPR) fell to its lowest level since 1983, as oil and gas prices rose again last week.
The Biden administration has tapped over 240 million barrels from the SPR this year to lower domestic gas prices, which have been rising since the president took office.
President Joe Biden first announced his plan to release oil from the national reserve on an emergency basis on Nov. 23, 2021, as part of a “major effort to moderate the price of oil” and lower prices at the average “corner gas station.”
~snip~
The emergency oil stockpile, which is managed by the Department of Energy (DOE), tumbled to 375.1 million barrels as of Dec. 23, according to the Energy Information Administration. . .
https://slaynews.com/economy/strategic-petroleum-reserve-falls-to-lowest-level-since-1983-as-gas-prices-rise-again/
Biden's recent announcement to begin buying back and filling the SPR is only that - an announcement. This has been a characteristic of this regime since they first took office. They announce a lot. But deliver very little.
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Don’t underestimate Joe’s ability to bleep things up.”
Barak Obama(maybe)