Biden To Deplete Oil Reserves in Wake of OPEC Production Cut

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Biden To Deplete Oil Reserves in Wake of OPEC Production Cut

Biden warned that he will now continue to direct releases from the nation's Strategic Petroleum Reserve "as necessary," a shift from the White House's previous comments that it would end the drawdown in the coming weeks.

Earlier this year, the Biden administration announced the largest sale ever from the reserve: 180 million barrels for six months beginning in May. Last month it extended that historic sale into November as only about 155 million barrels had been sold. It now aims to sell 165 million through November.

As a result, the amount of oil in the reserve has fallen to the lowest level since July 1984. It now holds about 416 million barrels of oil, well above what the United States is required by its membership in the International Energy Agency, at sites on the Texas and Louisiana coasts.
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Putin must be happy about this.
 
Joe Biden has been bleeding the US strategic oil reserves to sell cheap oil to Europe. The jig is almost up when the US strategic oil reserves run dry. The fake, artificial cheap oil being promoted by Joe Biden and his ilk will be exposed for all to see. OPEC is cutting its oil production, 2,000,000 barrels a day which should guarantee whatever effects of the US strategic oil reserves being released to Europe be neutralized. Higher oil prices and natural gas prices will destroy Europe first, inducing severe recession. US will follow next as Europe is one of the largest trading partners of the US. When the Europeans have spent most of their monies on Russian oil and natural gas they bought from India and China----they won't have enough monies to buy US goods. Expect huge layoffs in the US followed by bankruptcy for some US businesses. ET trolls, thank Joe Biden for another genius move to destroy the US economically. Well done!
 
Dem position as always is/will be: Biden responsible for gas prices when they are falling, but Republicans responsible when they are rising -and oil companies not using all their permits yaddy di yaddy dah.

Round and round we go. Maybe another trip to Saudi Arabia and poke them in the eye some more will help. OR NOT.

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This is just Kushner throwing a fit and calling his butt buddy MBS to hurt sleepy before the mid terms by turning off the tap.
 
Cuddles said:
This is just Kushner throwing a fit and calling his butt buddy MBS to hurt sleepy before the mid terms by turning off the tap.
More...

There has to be something The US can do crush The Saudi's :mad:
 
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