Winco
Diamond Member
- Nov 1, 2019
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BIDEN SOLD OIL from the SPR because signed a Bill Requiring the sale of oil from the SPR.Biden sold SPR oil to China to artificially lower gas prices,
![www.usatoday.com](https://www.usatoday.com/gcdn/-mm-/3b8b0abcb585d9841e5193c3d072eed1e5ce62bc/c=0-30-580-356/local/-/media/2018/02/06/USATODAY/usatsports/MotleyFool-TMOT-ffeff071-oil-pipeline-2_large.jpg?width=580&height=326&fit=crop&format=pjpg&auto=webp)
U.S. mandates biggest non-emergency strategic oil sell-off
The US budget deal that passed last week calls for selling 100 million barrels of the Strategic Petroleum Reserve by 2027 to help fund the government.
www.usatoday.com
You know that trump was POTUS and he signed this MANDATORY sale of oil from the SPR.
You now KNOW that.......Makes you look foolish.
The Bipartisan Budget Act of 2018 mandates the Secretary of Energy to draw down and sell from the SPR a total of 30 million barrels of crude oil between fiscal years 2022 and 2025; another 35 million barrels during fiscal year 2026; and an additional 35 million barrels in fiscal year 2027. In addition, under a budget deal from 2015, the Secretary of Energy is authorized to draw down up to $350 million worth of crude oil from the SPR in the 2018 fiscal year to use for modernization of the reserve.
The budget deal also reduces the minimum required level in the reserve under which no drawdowns can be made, to 350 million barrels from 450 million barrels.