As the United States faces higher gas prices than it has in many years Joe Biden has done something unthinkable.
He has taken oil from the United States strategic reserve, which was filled by President Donald Trump, and shipped it to Asia, Bloomberg News reported.
Around 1.6 million barrels of crude oil was sent from the U.S. Strategic Petroleum Reserve via a supertanker in the U.S. Gulf Coast and sent to Asia.
“Given the ongoing pace of the current SPR release — 12 million barrels in the last two months and the biggest weekly release so far last week at 3.1 million barrels — it’s fair to assume more SPR barrels are going to leave U.S. shores in the weeks ahead,” Kpler oil analyst Matt Smith said.
Conservative radio host Charlie Kirk explained, in detail, what Beijing Biden has been doing with our oil during his podcast.
In a press release on Tuesday, the White House said that he was tapping into the reserve to help ease gas prices.
“The President has been working with countries across the world to address the lack of supply as the world exits the pandemic. And, as a result of President Biden’s leadership and our diplomatic efforts, this release will be taken in parallel with other major energy consuming nations including China, India, Japan, Republic of Korea and the United Kingdom. This culminates weeks of consultations with countries around the world, and we are already seeing the effect of this work on oil prices. Over the last several weeks as reports of this work became public, oil prices are down nearly 10 percent,” it said.
“The U.S. Department of Energy will make available releases of 50 million barrels from the Strategic Petroleum Reserve in two ways,” the White House said.
“32 million barrels will be an exchange over the next several months, releasing oil that will eventually return to the Strategic Petroleum Reserve in the years ahead. The exchange is a tool matched to today’s specific economic environment, where markets expect future oil prices to be lower than they are today, and helps provide relief to Americans immediately and bridge to that period of expected lower oil prices. The exchange also automatically provides for re-stocking of the Strategic Petroleum Reserve over time to meet future needs,” it said.
“18 million barrels will be an acceleration into the next several months of a sale of oil that Congress had previously authorized,” it said.
But what good is it if the oil is being sent to Asia?
In an email to supporters, Trump was furious with what the Biden administration is doing.
“For decades our Country’s very important Strategic Oil Reserves were low or virtually empty in that no President wanted to pay the price of filling them up. I filled them up three years ago, right to the top, when oil prices were very low. Those reserves are meant to be used for serious emergencies, like war, and nothing else. Now I understand that Joe Biden will be announcing an “attack” on the newly brimming Strategic Oil Reserves so that he could get the close to record-setting high oil prices artificially lowered. We were energy independent one year ago, now we are at the mercy of OPEC, gasoline is selling for $7 in parts of California, going up all over the Country, and they are taking oil from our Strategic Reserves. Is this any way to run a Country? “ he said.
Biden can blame OPEC all he wants to, but the fact that he canceled the Keystone XL pipeline, stopped the leasing of federal lands for new oil, gas and coal leases, which is being fought in court and the fact that he cut out drilling for oil around Native American cultural sites, the blame lies with him.
We have all the resources we need and Biden is tapping into our emergency supply, and he is doing it to benefit Asia, (read Asia).