August West
Platinum Member
- Sep 5, 2014
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The oil companies own the oil and they sell to the highest bidder. Maybe you didn`t know this but the president doesn`t sell oil to anybody because he doesn`t own the oil. Do you have a problem with Capitalism?I find it hard to believe that Biden wasn’t stopped in his efforts to reduce gasoline prices by using up our Strategic Oil Reserve.
If we really need it and it is no longer there how much will the price of gasoline rise at that point?
That may well happen as Joe Biden has the reverse Midas touch. Everything he does turns to shit. Plus our corrupt Presdient is selling our strategic oil to the Chinese. Perhaps the Chinese own Joe.
Biden Sells Oil to China from the U.S. Strategic Petroleum Reserve
It is not enough that China is buying Russian oil at a discount due to western sanctions put on Russia…www.instituteforenergyresearch.org
It is not enough that China is buying Russian oil at a discount due to western sanctions put on Russia because of its invasion of Ukraine, but now President Biden’s Department of Energy is selling China oil from the U.S. Strategic Petroleum Reserve (SPR)—a source that is meant for national emergencies that Biden has been depleting since last November in hopes to lower gasoline prices that have been escalating due to his energy policies.
The SPR was established by the 1975 Energy Policy and Conservation Act to help the U.S. mitigate the impacts of future “severe energy supply interruptions.” But, Biden has sold more than five million barrels of oil from the SPR to European and Asian nations instead of U.S. refiners, compromising U.S. energy security. Biden’s Energy Department in April announced the sale of 950,000 barrels from SPR to Unipec, the trading arm of the China Petrochemical Corporation, which is wholly owned by the Chinese government. China purchased that oil from U.S. emergency reserves to bolster its own stockpile. China has been buying large amounts of oil for its reserves since the early COVID lockdowns when prices were low due to demand destruction.
Biden ordered the Department of Energy to release a total of about 260 million barrels of oil stored in the SPR over the last eight months. The SPR’s level has fallen to about 492 million barrels of oil, the lowest level since December 1985, according to the Energy Information Administration. The current level is 20 percent lower than its level recorded days prior to Biden’s first release in late November.
That is in contrast to President Trump, who in March of 2020, ordered the Department of Energy (DOE) to fill the SPR to its maximum capacity by purchasing 77 million barrels of American-made oil beginning with an initial purchase of 30 million barrels.
Biden Administration China Ties Reveal a Deeper Disturbing Truth
The U.S. has helped create its most formidable adversary.www.newsweek.com
The associations between members of the Joe Biden administration and Chinese Communist Party (CCP)-linked individuals and entities are incredibly disturbing.
Personnel is policy. By dint of such ties, and past dutiful service to administrations that pursued the very policies of engagement and accommodation that enabled Communist China's rise, we can surmise that the president, and the architects of his agenda, will likely be uniquely soft on China.
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This is to say nothing of the links between the family members of such officials and the CCP and/or its affiliates and friends. On this point, President Biden himself, at the absolute minimum, faces the appearance of a major conflict of interest in the way of his closest relatives' financial dealings with CCP-linked individuals and entities—to say nothing of his own alleged stake.
The foregoing demonstrates that the CCP touches major centers of power and influence in America: The corporate world, the academy and the related worlds of public policy and "thought leadership." These are all feeders to government.
***snip***
We have helped create our most formidable adversary. In the process, our Ruling Class has been corrupted by it. Absent a new elite, it is unclear how this ends well for the ruled.
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