Nostra
Diamond Member
- Oct 7, 2019
- 62,564
- 53,682
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- Banned
- #1
Another Joe Biden liberal policy disaster for America.
A drop in the bucket from the amount he released to buy votes in 2022. It's going to cost taxpayers a fortune to replenish to the levels it needs to be. I hope you clowns enjoyed your .02 cheaper gas when it was over $4.00.
Remember when Schumer and the Democrats were crowing about stopping Trump from filling it up at under $20/barrel?
The Biden administration plans to buy 2.7 million barrels of oil to help replenish the nation's much-depleted emergency stockpile.
The planned purchase for the oil is at an average price of $79 per barrel, the Department of Energy said in a statement on Friday.
Biden sold off more than 40% of the Strategic Petroleum Reserve last year to help lower gas prices following the Russian invasion of Ukraine. In total, the White House tapped the reserve four times last year, including when Biden ordered a record-setting 180 million barrels of oil released from the reserve.
The repeated withdrawals left the stockpile at the lowest level since the 1980s, prompting accusations from Republicans that Biden had left the U.S. vulnerable to potential energy threats.
The reserve had 351 million barrels in the week ended November 24, still near the lowest level since 1984, according to the latest Department of Energy data. That is down from about 630 million barrels at the beginning of 2020.
However, it is a notable increase from early 2020, when prices were under $20 per barrel. At the time, former President Donald Trump tried to add 77 million barrels of oil to the emergency oil cache, but he was blocked by congressional Democrats.
A drop in the bucket from the amount he released to buy votes in 2022. It's going to cost taxpayers a fortune to replenish to the levels it needs to be. I hope you clowns enjoyed your .02 cheaper gas when it was over $4.00.
Remember when Schumer and the Democrats were crowing about stopping Trump from filling it up at under $20/barrel?
The Biden administration plans to buy 2.7 million barrels of oil to help replenish the nation's much-depleted emergency stockpile.
The planned purchase for the oil is at an average price of $79 per barrel, the Department of Energy said in a statement on Friday.
Biden sold off more than 40% of the Strategic Petroleum Reserve last year to help lower gas prices following the Russian invasion of Ukraine. In total, the White House tapped the reserve four times last year, including when Biden ordered a record-setting 180 million barrels of oil released from the reserve.
The repeated withdrawals left the stockpile at the lowest level since the 1980s, prompting accusations from Republicans that Biden had left the U.S. vulnerable to potential energy threats.
The reserve had 351 million barrels in the week ended November 24, still near the lowest level since 1984, according to the latest Department of Energy data. That is down from about 630 million barrels at the beginning of 2020.
However, it is a notable increase from early 2020, when prices were under $20 per barrel. At the time, former President Donald Trump tried to add 77 million barrels of oil to the emergency oil cache, but he was blocked by congressional Democrats.
Biden administration plans to buy 2.7M oil barrels to refill emergency stockpile
The Biden administration announced on Friday that it plans to buy 2.7 million barrels of oil to help replenishing the nation's Strategic Petroleum Reserve.
www.foxbusiness.com