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Oil from U.S. reserves head overseas as gasoline prices stay high

JustAGuy1

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HOUSTON, July 5 (Reuters) - More than 5 million barrels of oil that were part of a historic U.S. emergency oil reserves release aimed at lowering domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices touched record highs.

The export of crude and fuel is blunting the impact of the moves by U.S. President Joe Biden designed 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.



How many of you Progs support this?
 

Manonthestreet

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Lot of our refineries cant handle light sweet so it has to leave the US......ergo the pipeline from Canada lower quality which Joe cancelled.
 

Doc7505

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HOUSTON, July 5 (Reuters) - More than 5 million barrels of oil that were part of a historic U.S. emergency oil reserves release aimed at lowering domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices touched record highs.

The export of crude and fuel is blunting the impact of the moves by U.S. President Joe Biden designed 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.



How many of you Progs support this?


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Confirmed..
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Selling off our oil reserves to countries like China is akin to FDR continue selling strategic materials to Japan and Germany after January 1, 1942.
I suspect Joey Xi believes he will go down as the FDR of his time - delusions of grandeur for leading the transformation of the world. Despicable old liar, thief and traitor.
Draining our STRATEGIC oil reserve while fomenting war is Treason.
This is Joey Xi Bai Dung's and the Progressive Maoist/DSA Democrat Commies "New Liberal World Order".
 
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tshrimp

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How does this guy not have an approval rating of zero!!!
 

B. Kidd

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Under Joey, our stock market has lost $8 Trillion in market value!!

Les go Brandon!
 

Desperado

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Lot of our refineries cant handle light sweet so it has to leave the US......ergo the pipeline from Canada lower quality which Joe cancelled.
Bull.... The exports follow similar shipments of Strategic Petroleum Reserve crude in April, when three ships went to Europe to replace Russian oil.
 

Manonthestreet

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Bull.... The exports follow similar shipments of Strategic Petroleum Reserve crude in April, when three ships went to Europe to replace Russian oil.
Doesn't change what a lot of our refineries are set up to handle
 

surada

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Lot of our refineries cant handle light sweet so it has to leave the US......ergo the pipeline from Canada lower quality which Joe cancelled.

You don't know what you're talking about.
 

initforme

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So the answer is drill drill drill and halt big oil from shipping one ounce out of the nation.
 

Rambunctious

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Lot of our refineries cant handle light sweet so it has to leave the US......ergo the pipeline from Canada lower quality which Joe cancelled.
We will soon discover that Hunter works for the Chinese oil company that will receive the oil... Impeachment and prison time if this is true....

This will bust up the Biden family... this is why Hunter was seen at the white house today.... they are getting their stories straight and circling the wagons....

GOP hammers Biden for allowing emergency oil reserves to go to China: 'compromising our energy security'​


 

surada

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So the answer is drill drill drill and halt big oil from shipping one ounce out of the nation.

That's not the answer. We're capitalists. We aren't going to nationalize the US oil companies.
 

initforme

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Ok then don't complain. Let big oil run amok completely. Good idea.
 

beagle9

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Some Americans can't afford gas to drive to work.
WTG Joe
He's probably attempting to enforce sanctions on Putin at American citizens expense. Otherwise he's probably promised to fill the void of oil and gas losses from Putin, by sending oil to Europe, but wait didn't the oil go to China ?? What the hell ?? My bad, and isn't Hunter involved somehow again ??
 

petro

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Regardless of any reason.
It is shitty optics as people struggle with inflation.
Most folks idea of a strategic reserve is for national calamities and to be for Americans only if shit hits the fan.
 

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