Biden To Release Another 15M Barrels From SPR To Influence Midterms At Cost Of $825M Taxpayer Dollars

[Jim H - VA USA]

White House announced another 15M barrels of oil from the strategic petroleum reserve.

This oil is intended to be used in times of national emergency such as an oil embargo, massive natural disaster, or world war.

Instead he is using it for political gain, to moderate the inevitable and forthcoming surge in gas prices at the pump caused by his deliberate war on fossil fuels and inept leadership to actually address the real long-term supply issues we Americans face.

Current price of oil is about $85/bbl [Link]

The oil he is releasing to the global markets was put in the SPR at an average price of $29.70/bbl [Link]

So this latest release will cost taxpayers about $825M.

He is putting America's security at great risk in an attempt to influence an election. Some would say this is an impeachable offense.

White House 'plans to release another 15 MILLION barrels of oil' from the US's emergency stockpile this week in a bid to balance markets and crack down on rocketing gas prices​

• President Biden is planning to release up to 15million barrels of oil from the United States' emergency oil reserves as he tries to stem soaring gasoline prices
• The oil release would be the latest portion of a deal Biden struck last spring to release 180million barrels of oil from energy companies
• Sources close to the White House said Biden is hoping the release of oil reserves will be able to drop national prices just in time for the midterms

White House to release 15 MILLION barrels of oil from stockpiles

President Biden is planning to release up to 15million barrels of oil from the United States' emergency oil reserves as he tries to stem soaring gasoline prices.

www.dailymail.co.uk

 

[OldFlame]

I would say 'unbelievable', but in this day and age, they get away with anything they want to.

 

[The Original Tree]

White House announced another 15M barrels of oil from the strategic petroleum reserve.

This oil is intended to be used in times of national emergency such as an oil embargo, massive natural disaster, or world war.

Instead he is using it for political gain, to moderate the inevitable and forthcoming surge in gas prices at the pump caused by his deliberate war on fossil fuels and inept leadership to actually address the real long-term supply issues we Americans face.

Current price of oil is about $85/bbl [Link]

The oil he is releasing to the global markets was put in the SPR at an average price of $29.70/bbl [Link]

So this latest release will cost taxpayers about $825M.

He is putting America's security at great risk in an attempt to influence an election. Some would say this is an impeachable offense.

White House 'plans to release another 15 MILLION barrels of oil' from the US's emergency stockpile this week in a bid to balance markets and crack down on rocketing gas prices​

• President Biden is planning to release up to 15million barrels of oil from the United States' emergency oil reserves as he tries to stem soaring gasoline prices
• The oil release would be the latest portion of a deal Biden struck last spring to release 180million barrels of oil from energy companies
• Sources close to the White House said Biden is hoping the release of oil reserves will be able to drop national prices just in time for the midterms

White House to release 15 MILLION barrels of oil from stockpiles

President Biden is planning to release up to 15million barrels of oil from the United States' emergency oil reserves as he tries to stem soaring gasoline prices.

www.dailymail.co.uk

How much of it is going to a Chinese Energy Company that Hunter Biden works for? A lot of it I guess since Biden sold millions of barrels to them the last time around. Don't think for a minute he is doing this for America. We should not be releasing this like we are. This oil is supposed to be stockpiled when it is cheap and not drained for purely political reasons.

We are currently at an historic low and The Biden Administration on top of draining the strategic reserve is also slow walking permits and blocking drilling and oil and gas production in other areas. We haven't built a new refinery in this country in decades. Nor have we built any Nuclear Plants.

Joe Biden is just wrong for America, wrong for American working families, and is just plain wrong on every decision his people make.

When you set out saying things like "we are going to put a lot of coal miners out of work" and "we are going to make gasoline rare and expensive" to pursue a religious dogma for The Cult of Climate Change, you hurt working families, you hurt the poor. Telling them to learn coding or buy an EV is the height of arrogance and is equivalent of telling them to "EAT CAKE" because there is no bread.

Just say No to Joe!

 

[Lisa558]

White House announced another 15M barrels of oil from the strategic petroleum reserve.

This oil is intended to be used in times of national emergency such as an oil embargo, massive natural disaster, or world war.

Instead he is using it for political gain, to moderate the inevitable and forthcoming surge in gas prices at the pump caused by his deliberate war on fossil fuels and inept leadership to actually address the real long-term supply issues we Americans face.

Current price of oil is about $85/bbl [Link]

The oil he is releasing to the global markets was put in the SPR at an average price of $29.70/bbl [Link]

So this latest release will cost taxpayers about $825M.

He is putting America's security at great risk in an attempt to influence an election. Some would say this is an impeachable offense.

White House 'plans to release another 15 MILLION barrels of oil' from the US's emergency stockpile this week in a bid to balance markets and crack down on rocketing gas prices​

• President Biden is planning to release up to 15million barrels of oil from the United States' emergency oil reserves as he tries to stem soaring gasoline prices
• The oil release would be the latest portion of a deal Biden struck last spring to release 180million barrels of oil from energy companies
• Sources close to the White House said Biden is hoping the release of oil reserves will be able to drop national prices just in time for the midterms

White House to release 15 MILLION barrels of oil from stockpiles

President Biden is planning to release up to 15million barrels of oil from the United States' emergency oil reserves as he tries to stem soaring gasoline prices.

www.dailymail.co.uk

He is putting his own political gain over national security. Add it to a long list of impeachable offenses.

Tic-tock.

 

[Harpy Eagle]

White House announced another 15M barrels of oil from the strategic petroleum reserve.

This oil is intended to be used in times of national emergency such as an oil embargo, massive natural disaster, or world war.

Instead he is using it for political gain, to moderate the inevitable and forthcoming surge in gas prices at the pump caused by his deliberate war on fossil fuels and inept leadership to actually address the real long-term supply issues we Americans face.

Current price of oil is about $85/bbl [Link]

The oil he is releasing to the global markets was put in the SPR at an average price of $29.70/bbl [Link]

So this latest release will cost taxpayers about $825M.

He is putting America's security at great risk in an attempt to influence an election. Some would say this is an impeachable offense.

White House 'plans to release another 15 MILLION barrels of oil' from the US's emergency stockpile this week in a bid to balance markets and crack down on rocketing gas prices​

• President Biden is planning to release up to 15million barrels of oil from the United States' emergency oil reserves as he tries to stem soaring gasoline prices
• The oil release would be the latest portion of a deal Biden struck last spring to release 180million barrels of oil from energy companies
• Sources close to the White House said Biden is hoping the release of oil reserves will be able to drop national prices just in time for the midterms

White House to release 15 MILLION barrels of oil from stockpiles

President Biden is planning to release up to 15million barrels of oil from the United States' emergency oil reserves as he tries to stem soaring gasoline prices.

www.dailymail.co.uk

I am 100% against Biden doing this, as you pointed out it is not the purpose of the SPR.


But, with that said, how is selling oil for 85 bbl that was bought for 29.70 bbl costing the US money?

Seems the US will make a tidy profit off of it.

Quick math puts it at about a profit of $829,500,000.

 

[Independentthinker]

White House announced another 15M barrels of oil from the strategic petroleum reserve.

This oil is intended to be used in times of national emergency such as an oil embargo, massive natural disaster, or world war.

Instead he is using it for political gain, to moderate the inevitable and forthcoming surge in gas prices at the pump caused by his deliberate war on fossil fuels and inept leadership to actually address the real long-term supply issues we Americans face.

Current price of oil is about $85/bbl [Link]

The oil he is releasing to the global markets was put in the SPR at an average price of $29.70/bbl [Link]

So this latest release will cost taxpayers about $825M.

He is putting America's security at great risk in an attempt to influence an election. Some would say this is an impeachable offense.

White House 'plans to release another 15 MILLION barrels of oil' from the US's emergency stockpile this week in a bid to balance markets and crack down on rocketing gas prices​

• President Biden is planning to release up to 15million barrels of oil from the United States' emergency oil reserves as he tries to stem soaring gasoline prices
• The oil release would be the latest portion of a deal Biden struck last spring to release 180million barrels of oil from energy companies
• Sources close to the White House said Biden is hoping the release of oil reserves will be able to drop national prices just in time for the midterms

White House to release 15 MILLION barrels of oil from stockpiles

President Biden is planning to release up to 15million barrels of oil from the United States' emergency oil reserves as he tries to stem soaring gasoline prices.

www.dailymail.co.uk

With the world on the edge of a nuclear WWIII, what would we need reserves for? Besides, Uncle Sam's charge card doesn't have a limit to it.

 

[The Breeze]

I am 100% against Biden doing this, as you pointed out it is not the purpose of the SPR.


But, with that said, how is selling oil for 85 bbl that was bought for 29.70 bbl costing the US money?

Seems the US will make a tidy profit off of it.

Quick math puts it at about a profit of $829,500,000.

How much is it going to cost to replace it?

 

[Harpy Eagle]

Besides, Uncle Sam's charge card doesn't have a limit to it.

Too bad none of our elected officials believe this

 

[Harpy Eagle]

How much is it going to cost to replace it?

That will depend upon when it is replaced.

 

[OldFlame]

That will depend upon when it is replaced.

Hopefully Trump's 2nd term.

 

[theHawk]

Too bad none of our elected officials believe this

^^ is that satire?

 

[struth]

Xiden selling of American treasures for political gain…party before country, the demafasict way

 

[1srelluc]

That will depend upon when it is replaced.

Trump tried buying oil at $24 a barrel and the dems killed it.

Remember When Democrats Blocked Trump from Filling the Strategic Oil Reserve While Gas Was Cheap?

Democrats blocked former President Trump from filling the reserve when oil was hovering around $24 per barrel,” reports Bloomberg. “Trump in March of 2020 was looking to stabilize the oil industry after Covid-19 hit in 2020 and crushed global petroleum demand. With oil at the time priced at about $24 a barrel, Republicans proposed spending $3 billion to fill up the reserve. But the idea became a political football in larger negotiations on trillions in coronavirus relief, with Senate Democratic Leader Chuck Schumer proclaiming that his party had blocked a ‘bailout for big oil.’”

 

[Flash]

Depleting the Strategic Petroleum Reserves in other to keep the economy from tanking prior to an election is absolutely the dumbest thing Potatohead could do to this country. When the oil is gone it is gone. You can bet your bottom dollar that Potatohead is never going to replace it because his Environmental Wacko buddies want it depleted.

Potatohead fucks up everything he does. Even Obama warned us to never underestimate the ability of Joe Potatohead to fuck something up. The only thing Obama ever got right.

 

[Harpy Eagle]

^^ is that satire?

Can you name an elected official that thinks there is a limit to the Govts charge card?

 

[Jim H - VA USA]

I am 100% against Biden doing this, as you pointed out it is not the purpose of the SPR.


But, with that said, how is selling oil for 85 bbl that was bought for 29.70 bbl costing the US money?

Seems the US will make a tidy profit off of it.

Quick math puts it at about a profit of $829,500,000.

We will refill it with oil purchased with taxpayer money, as we always do.

$85 per barrel is a reasonable estimate as to what it will cost to do so, I think.

 

[Harpy Eagle]

We will refill it with oil purchased with taxpayer money, as we always do.

Yes., but there was nothing in the post about the cost to refill it. You compared the price it was bought at and what it was released at, almost as if you did not know the oil was sold and not given away.

 

[Jim H - VA USA]

Yes., but there was nothing in the post about the cost to refill it. You compared the price it was bought at and what it was released at, almost as if you did not know the oil was sold and not given away.

$85 per barrel is a reasonable estimate as to what it will cost to do so, I think.

Ask me in a month, and my estimate will surely be higher, as the price is going to surge starting 11/11, and the draining of the SPR will even contribute to the increase a bit, since the reserve to provide some market calm will be all but depleted.

Use you own number. Mine is reasonable, based upon current oil price, and I think the is spending $50M+ per day or more of taxpayer money in order to influence the election.

If Biden was a real leader, he would be playing these games with domestic production, not reserves. It's so short sighted and transparently partisan.

 

[Harpy Eagle]

If Biden was a real leader, he would be playing these games with domestic production, not reserves. It's so short sighted and transparently partisan.

On this we agree, though our domestic production is enough that exports are at all time highs, so not sure that is the problem either unless there is a way to make them not export it.

We have not had a real leader in the White House for at least 40 years if not more.

 

[martybegan]

I am 100% against Biden doing this, as you pointed out it is not the purpose of the SPR.


But, with that said, how is selling oil for 85 bbl that was bought for 29.70 bbl costing the US money?

Seems the US will make a tidy profit off of it.

Quick math puts it at about a profit of $829,500,000.

The actual profit won't be known until they replace what is being removed.