Biden to release 10M more barrels from
Strategic Petroleum Reserve in November
in wake of OPEC+ cuts
Fox Business,
by
Caitlin McFall
Original Article
Posted By: NorthernDog,
10/5/2022 2:21:37 PM
President Biden on Wednesday said he would release 10 million more barrels of oil from the U.S.’s Strategic Petroleum Reserve (SPR) in November in a move to counter raising gas prices again. His decision was announced just hours after Organization of the Petroleum Exporting Countries (OPEC+) said it would be cut oil production by 2 million barrels a day. The cuts will restore the oil market for top producers like Saudi Arabia and Russia but are also expected to drive up costs at the pump globally. But Biden’s attempt to circumvent the spike in gases prices, expected to hit the
Reply 1 - Posted by:
Ribicon 10/5/2022 2:25:22 PM (No. 1296248)
If OPEC+ is anything like LGBTQ+, then the USA celebrates it 100%. What good is energy independence when it makes the TV people use unhappy voices when describing the Bad Orange Man?
7 people like this.
Reply 2 - Posted by:
Joni Gal 10/5/2022 2:31:21 PM (No. 1296249)
Stuck on stupid!
23 people like this.
Reply 3 - Posted by:
Skinnydip 10/5/2022 2:33:02 PM (No. 1296251)
Is he selling it to China?
23 people like this.
Reply 4 - Posted by:
Northcross 10/5/2022 2:35:24 PM (No. 1296252)
The strategic reserve is not to be used to improve your polling numbers. It is for major events- wars and natural disasters.
45 people like this.
Reply 5 - Posted by:
snapper451 10/5/2022 2:40:03 PM (No. 1296258)
Politically driven death wish for America. This should be impeachable offense, treason at minimum. Whenever we to replenish it will cost us greatly, just as he has deliberately destroyed the economy.
31 people like this.
Reply 6 - Posted by:
marbles 10/5/2022 2:40:10 PM (No. 1296260)
We ( the USA ) use about 20 million barrels everyday..........................his 10 mil is NOTHING.
18 people like this.
Reply 7 - Posted by:
Moritz55 10/5/2022 2:42:55 PM (No. 1296264)
A bonehead move by any measure, and unlikely to do Biden much political good, considering that the US consumes nearly twice as much oil per day (19,687,287 barrels).
16 people like this.
Reply 8 - Posted by:
DVC 10/5/2022 2:45:38 PM (No. 1296269)
Trying to make sure that we have no reserves for a real emergency.
25 people like this.
Reply 9 - Posted by:
sterling431 10/5/2022 2:46:13 PM (No. 1296273)
Nothing but short term desperation. He has no other solutions.
16 people like this.
Reply 10 - Posted by:
Birddog 10/5/2022 2:54:40 PM (No. 1296279)
could someone please explain to him the difference between Strategic...and temporary tactics?
Where reserves are for a National emergency...rather than some fleeting personal political expediency.
He was just over there meeting with OPEC folks, insulted them to their faces(or claimed to) then bragged about his "Great Victory for the American People" as the result of his masterful personal diplomacy derived from decades of being a Power Player on the global stage.
6 people like this.
Reply 11 - Posted by:
bad-hair 10/5/2022 2:59:11 PM (No. 1296283)
FTA ... The President will continue to direct SPR releases as appropriate to protect American consumers and promote energy security,"
Until it runs out. The thanx to OPEC we will have to refill it at 100 buck a barrel. Nice move . FJB
9 people like this.
Reply 12 - Posted by:
RayLRiv 10/5/2022 3:05:37 PM (No. 1296287)
He truly is mentally ill
15 people like this.
Reply 13 - Posted by:
Nimby 10/5/2022 3:11:59 PM (No. 1296291)
The brainless twit
8 people like this.
Reply 14 - Posted by:
EJKrausJr 10/5/2022 3:14:03 PM (No. 1296292)
Is there anything left in the Strategic Petroleum Reserves? Lame Duck has released 1/3 of the SPR since April. Lame Duck is putting our security at risk. How much more of the SPR will Lame Duck sell the Chicoms?
8 people like this.
Reply 15 - Posted by:
daisey 10/5/2022 3:21:01 PM (No. 1296297)
He and his handlers are like teenagers with mom’s credit card. They don’t care that a bill will come due for their purchases, they just want what they want at that moment with no thought to the future. Or worse, they just don’t care that these reserves are for emergencies for the country. Joe will always have what he needs to gas up Air Force One. If he depletes the reserve, it’s no skin off his nose.
6 people like this.
Reply 16 - Posted by:
mc squared 10/5/2022 3:39:49 PM (No. 1296305)
...until there is no more.
6 people like this.
Reply 17 - Posted by:
Namma 10/5/2022 4:05:50 PM (No. 1296319)
Problem is that MOST Americans can see who is causing the rise in gas prices. It’s this administration. Or more so, who is really running this administration. Find that person or persons and stop them. Drill for our own oil. The earth makes oil constantly. Use our own resources. Stop paying the saudis. We have our own!
9 people like this.
Reply 18 - Posted by:
zephyrgirl 10/5/2022 4:23:19 PM (No. 1296328)
The SPR has both sweet and sour oil in its inventory. No one wants the sour because of the difficulties in refining it. I suspect he's sold off most of the sweet inventory. In an editorial yesterday, the WSJ yesterday said that most of what is left in the SPR is unsellable, probably mostly the sour (high sulfur) oil.
2 people like this.
Reply 19 - Posted by:
Pearson365 10/5/2022 4:29:53 PM (No. 1296331)
We will soon here Biden’s propagandists announce that the Reserve has been completely drained in order to save the cost of personnel and maintenance expenses. “The President is committed to saving taxpayers money, so he decided not to put any more of your money into a hole in the ground. His predecessor put millions of barrels into the Reserve at taxpayer expense, but this President won’t waste your money that way.”
Left unmentioned is that President Trump purchased oil for the Reserve when a barrel cost approx $28 versus current $95 and rising cost. For his forward thinking, Trump was criticized by Schumer and other Dems for “bailing out the oil industry “.
6 people like this.
Reply 20 - Posted by:
Gordon Mills 10/5/2022 4:32:58 PM (No. 1296332)
What's your game plan when the 'reserves' run dry? I believe the Saudis and Russians can wait you out.
6 people like this.
Reply 21 - Posted by:
StrikingViking 10/5/2022 4:41:47 PM (No. 1296338)
Our Wanderer in Chief has been instructed to drain our Strategic Oil Reserve to divert the voters' attention away from the Dims' Green New Deal war on energy. The Dims will fight tooth and nail to prevent the Reserve from being replenished. If we do manage to restock the Reserve it will certainly cost much, much more than it cost to fill it in the first place.
In the meantime, God help us if we get into conflict with any of our adversaries in Europe or Asia.
6 people like this.
Reply 22 - Posted by:
downnout 10/5/2022 5:29:48 PM (No. 1296355)
I think the Democrat plan is to drain and eliminate the SPR, leaving us extremely vulnerable to blackmail.
4 people like this.
Reply 23 - Posted by:
bighambone 10/5/2022 6:38:27 PM (No. 1296375)
All of a sudden, and after the election, Biden will report to the nation that the US Strategic Petroleum Reserve no longer exists and that he intends to replace that obsolete oil reserve with electricity generating solar panels and windmills.
Can you imagine the situation if Biden had his way before Hurricane Ian hit Florida. That hurricane would have blown away just about all of Biden’s very vulnerable solar panels and windmills, and instead of government claiming that electric power will be restored throughout heavily hit areas of Florida in weeks or months, they would be instead be telling Florida that it would be years before all of Florida’s electric power will be restored after all those solar panels and windmills are replaced. Then what happens when a future such hurricane hits Florida?
0 people like this.
Reply 24 - Posted by:
FJB 2022 23 24 10/5/2022 7:00:09 PM (No. 1296393)
Joe, your desperation is showing.
0 people like this.
Reply 25 - Posted by:
DVC 10/5/2022 7:31:32 PM (No. 1296416)
Re #12 & 13, this is not done because they are "brainless", it is done very intentionally to harm the USA. Yes, Joe is an idiot, always has been, but he is totally on board with the entire plan to wreck the economy, crush the middle class.
It is not an error, it is not because they don't understand what they are doing....it is pure, planned, carefully done, intentional EVIL.
0 people like this.
Reply 26 - Posted by:
ann_n_GA 10/5/2022 7:45:20 PM (No. 1296423)
November = Election month. Biden is trying to get the supply up in November to try to decrease prices. Then after November, there will be no more releases. Why? Because there aren’t any national elections and perhaps due to there being no more reserves. What a dunce.
0 people like this.
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The Old Fool is playing a dangerous game with our energy supplies.