As Biden depletes US oil reserve, China amasses huge stockpile
President Joe Biden’s decision to deplete America’s oil reserves is helping a top adversary—China, which has built up its own stockpile while taking advantage of Biden’s firesale.
Biden’s Department of Energy in April sold roughly one million barrels of oil from the Strategic Petroleum Reserve barrels to Unipec, the trading arm of the China Petrochemical Corporation, which is wholly owned by the Chinese government. That decision came just two months after Unipec launched an “unusual buying spree” aimed at boosting China’s own oil reserves.
The communist nation’s strategy was clearly successful—from mid-March to mid-May, China increased its oil reserves from 869 million barrels to 926 million barrels, according to Bloomberg. America’s oil reserves, meanwhile, are in freefall under Biden. The Democrat inherited 638 million barrels of reserve oil; that number is set to drop to 384.6 million barrels, the lowest level since 1984.
I have never hated someone so much in my life. As a christian I try not to hate. There is no doubt in my mind though that Biden is the enemy of the USA and all christians – and all the demon crats have jumped on soros’ bandwagon. These people are evil. Hoping he gets his just rewards – before I die.
I’m with you 10:04
The legislation establishing the Strategic Oil reserve specifically requires that oil released under some type of declared order must be replenished fairly quickly, within a few months IIRC. So Bribem will be buying oil on the open market in the near future to ‘restock the shelves’ or he’ll be breaking the law, and subject to scrutiny by a new Congress.
Popcorn is still available; Corn Pop, not so much!