Biden to release 10M more barrels from Strategic Petroleum Reserve in November in wake of OPEC Cuts

[Richard-H]

It’s for national emergencies that disrupt our supply of oil, Simp.

OPEC cutting oil production during a time of extremely high inflation is exactly what the reserve is for.

 

[Donald H]

I see. So you don't know this is just about crude oil.

Yeah, I see that you see!
fkn buffoon!

 

[Faun]

He's including all oil....

U.S. Weekly Product Supplied

www.eia.gov

The point is that he is depleting the strategic reserve in order to keep prices artificially low just until the election.

Then prices are going to skyrocket.

The current release was scheduled to end 10/31. Now it's 11/10. Election is 11/08. It's not a coincidence.

So what should he do?

 

[Nostra]

So what should he do?

Stop attacking our oil industry and keep his hands of the SOR

 

[Faun]

Yeah, I see that you see!
fkn buffoon!

I was just clarifying you don't know what you're talking about. Why get mad at me? You should be mad at yourself for not knowing.

 

[Burgermeister]

Let's see...

MAGA logic says that we should have a Strategic Oil Reserve, but when we need it, we shouldn't use it...

I don’t think the Trumpers here think we need it. We know it’s a useless gesture that damages our national security.

 

[Faun]

Stop attacking our oil industry and keep his hands of the SOR

The oil industry is doing just fine.

 

[Nostra]

The oil industry is doing just fine.

They disagree with your uninformed opinion.

 

[Faun]

They disagree with your uninformed opinion.

They do? They're making bank. What are they complaining about?

 

[Ralph Norton]

Let's see...

MAGA logic says that we should have a Strategic Oil Reserve, but when we need it, we shouldn't use it...

Let's see....
What part of "emergency" do you not grasp?

 

[Nostra]

They do? They're making bank. What are they complaining about?

Your Vegetable Messiah‘s disastrous energy policy, Simp.

 

[Richard-H]

Let's see....
What part of "emergency" do you not grasp?

It's called the 'Strategic Oil Reserve', not the 'Emergency Oil Reserve'.

You don't get to decide when it gets used. President Biden does.

 

[Nostra]

It's called the 'Strategic Oil Reserve', not the 'Emergency Oil Reserve'.

You don't get to decide when it gets used. President Biden does.

Here ya go. Get educated, Simp.

About the SPR​

The Strategic Petroleum Reserve (SPR), the world's largest supply of emergency crude oil was established primarily to reduce the impact of disruptions in supplies of petroleum products and to carry out obligations of the United States under the international energy program. The federally-owned oil stocks are stored in huge underground salt caverns at four sites along the coastline of the Gulf of Mexico. The sheer size of the SPR (authorized storage capacity of 714 million barrels) makes it a significant deterrent to oil import cutoffs and a key tool in foreign policy.

SPR oil is sold competitively when the President finds, pursuant to the conditions set forth in the Energy Policy and Conservation Act (EPCA), that a sale is required. Such conditions have only existed three times, most recently in June 2011 when the President directed a sale of 30 million barrels of crude oil to offset disruptions in supply due to unrest in Libya. During this severe energy supply interruption, the United States acted in coordination with its partners in the International Energy Agency (IEA). IEA countries released altogether a total of 60 million barrels of petroleum.

Strategic Petroleum Reserve

Strategic Petroleum Reserve

www.energy.gov

 

[themirrorthief]

From where did you pluck that number?

EIA reports we consume 8.8 million barrels per day.

damn, you got some for real shit information there...thats how much california uses maybe

 

[Faun]

Your Vegetable Messiah‘s disastrous energy policy, Simp.

No, you are, they're not. Again, they're making bank.

 

[Faun]

damn, you got some for real shit information there...thats how much california uses maybe

The EIA says it's the whole country. Who knows why you think you know better?

 

[1srelluc]

Tater is a clear and present danger to the wellbeing of the USA.....He should be put on a prison barge anchored in the Potomac till his treason trial along with the rest of the dem "leadership".

 

[surada]

Strange how his plan ends right after the election.

Then, people will get to enjoy $6 gas again.

We are down to 25 days of supply in the SPR!

The oil in the SPR he's releasing was bought at less than $40 per barrel. Oil is above $80 now.

He's spending $40 million per day of taxpayer money, and putting our national security at risk, in an attempt to steal the election, and it should be a crime.

At $40 a barrel nobody invests in oil production.

 

[Jim H - VA USA]

At $40 a barrel nobody invests in oil production.

I did not say they did. I said that the oil which Biden is releasing was put in at less than $40 per barrel.

Actual average price paid was $29.70 per barrel...

SPR Quick Facts

This page lists Quick Facts for the Strategic Petroleum Reserve.

www.energy.gov

Notably, when the price of oil tanked during the pandemic, Trump proposed filling the SPR with dirt cheap oil. The Dems celebrated canceling his brilliant plan...

Democrats Bragged About Canceling Trump's Plan To Fill Strategic Petroleum Reserve

Remember this with all the media spin now about Biden releasing 180 MILLION barrels from our emergency reserve.

thepoliticalinsider.com

Trump was right again, and a visionary leader. Dems are destroying America.

 

[Nostra]

I did not say they did. I said that the oil which Biden is releasing was put in at less than $40 per barrel.

Actual average price paid was $29.70 per barrel...

SPR Quick Facts

This page lists Quick Facts for the Strategic Petroleum Reserve.

www.energy.gov

Notably, when the price of oil tanked during the pandemic, Trump proposed filling the SPR with dirt cheap oil. The Dems celebrating canceling his brilliant plan...

Democrats Bragged About Canceling Trump's Plan To Fill Strategic Petroleum Reserve

Remember this with all the media spin now about Biden releasing 180 MILLION barrels from our emergency reserve.

thepoliticalinsider.com

Trump was right again, and a visionary leader. Dems are destroying America.

And those same Dimwingers who claimed it was a payoff to big oil at $25 barrel will celebrate Veggie Joe when he has to pay them $100 barrel to replenish.