Historic Moment: Biden Drains US Strategic Petroleum Reserve

[link to www.cnbc.com (secure)]

2020: Trump wanted to fill the SPR…with oil trading about $30 per barrel during Russia-OPEC oil war

“Cheap oil from Saudi Arabia, the world’s largest exporter, and the United Arab Emirates is aggravating the pressure on prices after talks to cut production with Russia soured late last week. Russia, the world’s second-largest producer, does not appear willing to return to its agreement with the Organization of the Petroleum Exporting Countries (OPEC), which has kept oil in a range around $30
a barrel for much of the last week.

For the week, Brent is set to fall around 24%, the biggest weekly decline since December 2008, when it fell nearly 26%.

“As of the latest data (March 6) the SPR was 92 million bbl short of capacity. This is the perfect time to top it up: prices are low and we’re engaged militarily in the Middle East. For once, Russia’s loss is our gain,” said Scott Nations, chief investment officer of NationsShares.”

When Trump entered office the SPR was about 670 million barrels
When he left office the SPR was about 640 million barrels

Joe Biden has ordered the sale of another 15 million barrels from the SPR in December…when OPEC plans to cut production by 2 milion barrels per day, and the US plans to sanction Iran and try to pressure the world into capping the price of Russian oil at $70 per barrel

Last Edited by Dodger007 on 10/26/2022 11:10 AM

Well, Im sure hopium and libtard delusion will power the military and America for WW3

Who needs oil right? Green Powah!

That is how he is keeping the price of gas low before the election. He released 15 million barrels from the strategic reserve to compensate for the drop in production by OPEC.

After the election he is going to have to restock the reserves at a much higher price.

Inflation will go through the roof.

Biden's ability to destroy is off the charts. Absolutely nothing but the complete destruction of America has occurred ever since this demented maniac was placed into an office that will forever be stained by his placement.

planned chaos

That release was ordered for December

Once midterms are over, gasoline prices will skyrocket.

the fuckening continues at a historic pace

you still believe this fake admin doesn't work for the bejing tel aviv/kiev mafia?

Yeah....we're USING it....ffs

nothing personal against you OP, i love you, great member

regarding the topic

honestly, when i'm watching the news, Tucker, FOX NEWS etc.

it's like watching fucking intelligence torture, watching news which just put salt on the wounds, nothing ever chances, nobody prosecutes the perpetrators, so what's the point of everything

fucking sick dystopian World

TWO MORE WEEKS, LOCK HER UP, DRAIN THE SWAMP

changes*

he actually had the opportunity to fill the SPR with oil at 18.80 a barrel and the DEMS said that it was enriching the oil companies to much and now they are replacing oil at 90 a barrel...


hmmm...... on the verge of war and running down SPR what could possibly go wrong!!!

Since 1984? Why did Reagan let them get that low?

Chuck Schumer and the democrats defeated Trump’s 2020 request for $3 BILLION to top off the US SPR with $30 barrel oil.

Called it a “ giveaway to the energy companies”

Look at when the SPR was started and by who…


Update: sorry my bad
SPR was started 1975 after Arab oil embargo

Last Edited by Dodger007 on 10/26/2022 11:24 AM

THIS

I just hope that it's a windy day when I have to run my targeting system....

Reagan was a war with OPEC and refused to give in to their price per barrel demands, so he tapped into reserves to keep gas prices low and keep the economic recovery from Jimmy Carter's (D) mess back on track.

The US uses about 20 million barrels of oil a day….
When we’re not at war

Solar-powered bombers and tanks at the ready, sir!

We're moving to

Strategic battery reserve

Until someone sticks there head down there an weigh up how much is left. It’s just a fabricated chart.

That was the only thing keeping prices low. I guess now we have to invade Saudi Arabia. Oh well, they probably deserve it.

[link to www.energy.gov (secure)]

If you wanted to hurt us,

empty out our reserves

right before something really bad

so you can make it all that much worse.

Oh okay...let's allow Russia to invade other countries...gfy.

We now have the softest, safest military in American history.