Biden emptying Strategic Oil Reserve

Sacramento CA

Description

Biden Says Refilling Oil Reserve at $70/Barrel Will Make Money! President Joe Biden is set to loot the Strategic Petroleum Reserve yet again, and he’s justifying the political gimmick with a plan that all but admits his party has cost the taxpayer billions for no good reason. Biden finalized his latest release of 15 million barrels from the federal stash on Wednesday, using the last portion of a 180-million barrel set of releases he had authorized in March. Biden’s previous releases had depleted the reserve to its lowest point since 1984. Biden is couching his latest gulp from the reserve with a plan to buy more oil for the federal stash as soon as prices go below $72 a barrel, oil today is selling at $90.00 per barrel. Two years before Biden’s pilfering of the Strategic Petroleum Reserv, Senate Democrats tanked a Trump administration proposal to add 77 million barrels of oil to the reserve at dirt-cheap prices, this was in the midst of the coronavirus pandemic in March 2020, when barrels of oil were going for $24. Democratic Senate Minority Leader Chuck Schumer bragged about blocking the bargain refill of the Strategic Petroleum Reserve.