July 05, 2022

biden regime takes 5 million barrels of oil from Strategic Reserve--and sends it all WHERE??

SAY, citizen, did you hear that the biden regime is reeeealy concerned about high gasoline prices?  Yep, and it's going to extraordinary lengths to bring prices down!  Yay!

For example, White House aides wrote a letter to all the U.S. oil companies threatening them if they didn't make more gasoline!  Now that's some really firm, decisive leadership, eh?

Of course the oil-company executives stubbornly insisted they couldn't make more gasoline unless they had more oil to refine, but that it was really hard to buy oil right now because world-wide demand was more than supply.  Can you imagine?

Fortunately the U.S. has a huge underground oil storage facility called the Strategic Petroleum Reserve, which was built as an emergency supply in case of war or if oil-exporting countries refused to sell us oil.  So to reduce gas prices (yay!!) the regime took five million barrels of oil out of the SPR.  Yay!  So now U.S. refineries will have more oil, so they can make more gasoline, and gasoline prices should fall!

Now that's the kind of brilliant Democratic leadership this country needs, eh?

Wait...what?  You say those five MILLION barrels biden took out of OUR "Strategic Petroleum Reserve" did NOT go to U.S. refineries?

That can't be right.  Where did it go?

Ya say the regime shipped five million barrels of our Strategic Reserve oil to Europe??  Democrats: "Dat's a LIE!  Dat *fake newz!*"

Really?  Take a look at the Reuters article below, from 11 a.m. today:

HOUSTON (Reuters) – More than 5 million barrels of oil from 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.

About 1 million barrels per day is being released from the Strategic Petroleum Reserve (SPR) through October. The flow is draining the SPR, which last month fell to its lowest level since 1986. U.S. crude futures are above $105 per barrel and gasoline and diesel prices above $5 a gallon in one-fifth of the nation.

U.S. officials have said oil prices would have been higher if the SPR had not been tapped.

The fourth-largest U.S. oil refiner, Phillips 66, shipped about 470,000 barrels of crude from the Big Hill SPR storage site in Texas to Trieste, Italy, according to U.S. Customs data. Trieste is home to a pipeline that sends oil to refineries in central Europe.

Atlantic Trading & Marketing, an arm of French oil major Total, exported 2 cargoes of 560,000 barrels each, the data showed.

Neither company would comment for this story.

Cargoes of SPR crude were also headed to the Netherlands and to a refinery in India, an industry source said.  A third cargo headed to China, another source said.

That last line is particularly galling, since after biden imposed selling sanctions on Russian oil, Russia has been selling oil to both China and India at a discount from world prices.  

The latest exports follow three vessels that carried SPR crude to Europe in April helping replace Russian crude supplies.

U.S. crude inventories are the lowest since 2004 as refineries run near peak levels. Refineries in the U.S. Gulf coast were at 97.9% utilization, the most in three and a half years. 

What say you now, Democrats?  It's not bad enough that the national average price of gasoline is five bucks per gallon, so now biden is letting oil from our own damn Strategic Reserve to be shipped overseas.

Does that strike you as brilliant leadership?  Does it strike you as even rational?

Thanks, Democrats.

Source.

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