Biden Sent 5 Million Barrels of Emergency Oil Reserves to Europe and Asia

According to 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.

We don’t have much in the way reserves and this isn’t what politicians should be doing.

This took place 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. Biden is pretending the oil and gas companies are gouging when the problems are his policies.

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 the lowest since 1986.

This isn’t what it’s supposed to be used for! They are for EMERGENCIES like wartime.

U.S. crude futures are above $105 per barrel and gasoline and diesel prices above $5 a gallon in one-fifth of the nation, AAA reports. U.S. officials have said oil prices could be higher if the SPR had not been tapped.

In other words, Biden hasn’t done one damn thing to lower prices that is meaningful.

By NC ScoutPublished On: July 6, 2022Categories: Uncategorized4 Comments

About the Author: NC Scout

NC Scout is the nom de guerre of a former Infantry Scout and Sergeant in one of the Army’s best Reconnaissance Units. He has combat tours in both Iraq and Afghanistan. He teaches a series of courses focusing on small unit skills rarely if ever taught anywhere else in the prepping and survival field, including his RTO Course which focuses on small unit communications. In his free time he is an avid hunter, bushcrafter, writer, long range shooter, prepper, amateur radio operator and Libertarian activist. He can be contacted at [email protected] or via his blog at brushbeater.wordpress.com .

4 Comments

RP July 6, 2022 at 08:09

FJB
Randolph Scott July 6, 2022 at 08:13

Another reason to hate the bidens and politicians.
Ghostmann July 6, 2022 at 08:16

The best part about the blame game of inflation is that neither controlled front ever says a word about the Federal Reserve printing trillions under both the current puppet and former puppet since March of 2020. Indeed, both team blue and team red love their money printer when it goes to their pet projects. Which is why the “muh red wave” mf’ers have already lost and they don’t even know it.

The price of gas is directly impacted by inflation, and the private monied corporation that calls itself a bank is an inflation machine. All it can do, is inflate. It’s mission is to inflate no matter what, to be the buyer and lender of last resort and then it will own it all.

Sending the oil overseas is just dumb for a whole other multitude of reasons. The people who are running the govt though already told everyone to their face what their agenda is. Their agenda is a post petroleum fueled world and a reorgnization of the economy as a command economy.

If the looney toons could ban cars and trucks with a pen and a phone and people would comply, they’d do it!
Paulo July 6, 2022 at 12:17

Haven’t watched yet, bur will. Archived yesterday:
‘China & Russia’s Coordinated Plan to Take Down America (Gen. Robert Spalding Interview)’
https://www.youtube.com/watch?v=xkNqRQIZV0o

1:02 hours…

Stay Strong & Persevere

“Every man to his family and his possessions”