“More than 5 million barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month”
At a time when millions of Americans are struggling to pay historically high gas prices, our government is shipping millions of barrels of oil from our strategic reserves to other countries.
It’s hard to imagine a decision that’s more indefensible and tone-deaf.
Joe Biden refuses to budge on his anti-energy creation policies and at the same time is sending our reserves overseas? This is madness.
Arathy Somasekhar reports at Reuters:
Oil from U.S. reserves sent overseas as gasoline prices stay high
More than 5 million barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices hit record highs.
The export of crude and fuel is blunting the impact of the moves by U.S. President Joe Biden to lower record pump prices. Biden on Saturday renewed a call for gasoline suppliers to cut their prices, drawing criticism from Amazon founder Jeff Bezos.
About 1 million barrels per day is being released from the Strategic Petroleum Reserve (SPR) through October. The flow is draining the SPR, which last month fell to the lowest since 1986. U.S. crude futures are above $100 per barrel and gasoline and diesel prices above $5 a gallon in one-fifth of the nation. U.S. officials have said oil prices could be higher if the SPR had not been tapped.
The U.S. oil reserve is not Biden’s to use whenever he thinks it will help him politically. This is an A.F. Branco cartoon come to life:
— Tom Bevan (@TomBevanRCP) July 5, 2022
Just yesterday, a new Monmouth Poll found that gas prices are a top issue for Americans:
More Americans Struggling; Inflation, Gas Prices Top Family Concerns
The number of Americans who are financially struggling has increased by double digits in the past year as inflation and gas prices top the list of problems faced by the nation’s families. The Monmouth (“Mon-muth”) University Poll finds a majority say the federal government’s actions are hurting them and that President Joe Biden’s policies are not benefitting the middle class. Preference for party control of Congress remains divided, with no real movement since the spring…
Nearly half of the public names either inflation (33%) or gas prices (15%) as the biggest concern facing their family right now. The economy in general (9%) and paying everyday bills (6%) are among other financial concerns mentioned.
Notice anything missing?
January 6th strangley absent from list. https://t.co/WyBvS9NkRN
— Mike LaChance (@MikeLaChance33) July 5, 2022
Sending our oil reserves overseas makes absolutely no sense. What are we going to do next, arm the Taliban? Oh, wait.DONATE
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