President Joe Biden ordered 50 million barrels from the nation’s Strategic Petroleum Reserve maintained for emergencies released amid high gas prices ahead of the holidays.
According to the Department of Energy, Tuesday’s announcement will coincide with similar decisions from China, India, Japan, South Korea, and the United Kingdom in a collective effort for the first time to bring down rising fuel costs.
“As we come out of an unprecedented global economic shutdown, oil supply has not kept up with demand, forcing working families and businesses to pay the price,” said Energy Secretary Jennifer Granholm. “This action underscores the President’s commitment to using the tools available to bring down costs for working families and to continue or economic recovery.”
Just three weeks ago, Granholm was laughing on air when a Bloomberg reporter asked about the administration’s plan to bring down runaway gas prices reaching seven-year highs. --->READ MORE HERE
Oil reserves replenished by former President Donald Trump are being raided by President Joe Biden in an effort to address Americans’ displeasure with rising fuel prices during Biden’s presidency, leading Trump to ask, “Is this any way to run a Country?”
Energy costs are one component of the rampant inflation that has become a fixture in Biden’s economy through the summer and fall, spurring Americans to give Biden abysmal poll numbers.
In response, Biden has been dealing with China and other nations to jointly release oil on the theory that this will bring down prices.
“Today, the President is announcing that the Department of Energy will make available releases of 50 million barrels of oil from the Strategic Petroleum Reserve to lower prices for Americans and address the mismatch between demand exiting the pandemic and supply,” the White House said in a statement on Monday. --->READ MORE HERE
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| Bryan R. Smith/AFP via Getty Images |
Vice President Kamala Harris’s hypocrisy was on display Tuesday as President Joe Biden raided oil reserves despite her having slammed then-President Donald Trump in 2020 for refilling them.
“Absolutely unacceptable that Trump is prioritizing bailing out Big Oil companies while dragging his feet to support millions of unemployed people, workers, small businesses, and state and local governments,” Harris tweeted in 2020 during the pandemic.
Trump refilled the oil reserves during the pandemic when prices were three times less than Tuesday’s prices of $3.403, according to the AAA. The low prices were threatening American producers’ ability to compete with the deep pockets of OPEC, which have no interest in competing with American oil producers. --->READ MORE HERE
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