With fewer than three weeks until midterms, Joe Biden is releasing another 15 million barrels of oil from the U.S. strategic oil reserve in a desperate attempt to lower gas prices before voters head to the polls.
The 15 million barrels are the last remaining barrels of the 180 million he authorized for sale in March – and there’s no reason to think he won’t authorize even more for release.
Biden did acknowledge that he’d drained the reserve – but said that his administration would begin to refill it once crude prices fall to $70 a barrel.
In March 2020 Donald Trump proposed purchasing 77 million barrels of oil to refill the strategic reserve to its maximum capacity when prices were $24 a barrel. Democrats blocked the move, blasting it as somehow being a “bailout” for the oil industry.
The strategic reserve was already at its lowest level since 1984 before this announcement.
When questioned if this obviously politically motivated decision was politically motivated, Biden denied the allegation, and said he was motivated “to make sure I continue to push on what I’ve been pushing on.”
i dont think oil prices will ever come down to 70 a barrel, so i guess the reserves will never be replaced
Biden don’t even know what the hell is going on !!!! He is ONLY a puppet for Pelosi who Runs him !!
Most people have forgotten, or just arent aware…..the lifetime corrupt politicians bought stock in foreign oil many many years ago. Shutting down US oil and forcing purchases of foreign oil makes them very big money. Its nothing short of treason.
Re-instate TRUMP !!! SOLVED
Courts always tried to block Trump all the time but NONE try to Block What Biden does !!!!!!
Does the Biden family get its cut of $70/bbl?
Yes !!! 50%
Why do we keep telling the world what we are doing? Who needed to know $70 a barrel? Saudis? Russia? Venezuela? You set a price that the biggies wont ever get too. Prob way you have been talking to Venezuela……why not punp our own??????? Spend our money on our technology.
Damn
Biden is GUILTY OF TREASON along with his SON & BROTHER > PERIOD !!!
And his wifey poo.