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

[frigidweirdo]

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!

Fun.

"Just say No to Donny!"

 

[frigidweirdo]

View attachment 1229839

Not Good Donald.

What are you going to do about these rising gas prices?

They funny thing is, those who opposed this back then, bet they support it now.

 

[Natural Citizen]

The funny thing is, those who opposed this back then, bet they support it now.

lololol...

 

[AntonToo]

Taking away from our reserves is a loss, we need to keep them high for a real emergency, not because the price is too high.

Since I didn't see this post before I may as well address this redirection now.

This is the name of the thread:

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

That is false, because it wasn't a cost to taxpayers, in fact it was a gain.

Gov bought low, sold high in 2022, then again bought low in late 2023 and 2024.

We've hit a low of 350 barrels in 2023, then got back to 410 million by the time Trump got into office and it has stayed at about that level until today, even though Trump was shooting the shit during the campaign that he will increase it.

 

[AntonToo]

I guess some people just don't like facts.

 

[Jim H - VA USA]

Well, it's trumps 2nd term.
Would it be dumb if trump sold oil from the SPR in a hope to bring down gas prices?

Would that ^^^^^ be good or bad?

What if trump does it?

Releasing a bit to counter the temporary closure (or near closure) of the Straight of Hormuz during a time of war seems exactly what the SPR is supposed to be used for.

Along with G7 and other allied countries, 400 million barrels will be released in total, in effect giving a message of international solidarity against Iran.

Trump says he will refill it. You can believe his intention, as he has tried before....
Trump's attempts to fill the SPR in 2025 and even his first term (at $29/bbl!) were squashed by Dems...

Source1 Source2

 

[frigidweirdo]

Releasing a bit to counter the temporary closure (or near closure) of the Straight of Hormuz during a time of war seems exactly what the SPR is supposed to be used for.

Along with G7 and other allied countries, 400 million barrels will be released in total, in effect giving a message of international solidarity against Iran.

Trump says he will refill it. You can believe his intention, as he has tried before....
Trump's attempts to fill the SPR in 2025 and even his first term (at $29/bbl!) were squashed by Dems...

Source1 Source2

So, a president who goes out of his way to antagonize others... then complains when his antagonism led to people opposing him....

A GOOD president would try and work with people to get what he wanted done. A BAD president acts like a dictator who can do whatever he wants.

 

[Conservative from Georgia]

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