Hooray! The White House is our gasoline savior!
Biden announced, on October 19, 2022, the release of 15 million barrels of oil from the Strategic Petroleum Reserves (SPR). Read Biden’s briefing here.
All the while, claiming direct credit for falling gas pump prices, across the nation, over a short period of time and, yet, continues to blame Putin for the dramatic increase in the same commodity! Can you say “h-i-p-o-c-r-i-s-y”?
When Biden took the Oval Office, the SPR ‘s level was at 725 million barrels. After this announcement, it will be reduced to 400 million.
How will the deficit be replenished? Press secretary explains, “when oil prices fall below $67-72 per barrel . . . read more here ”
Good grief… They must be drinking Florida water tainted by hurricane Ian!
Here’s my, real, angina about Biden’s executive release of the 15 million barrels of oil – the Liberal-left, main-stream media, Social Media channels, news outlets, et al stand & praise the action as being akin to salvation from the wicked world-of-evil. When, in truth, the 15 million barrels will only satiate about 400 days (check out oil consumption by country here) of U.S. consumer demand. This does NOT include the commercial/industrial requirements. For what reason enact this decision at this time, I can only speculate… Politically, it’s opportunistic, to demonstrate to the citizens (who believe this charade) that Biden has the public’s interest in mind. Does one, truly, believe this?!
If, yes, why did OPEC, severely, curtail oil production (read OPEC’s actions here) & Biden had no influence over preventing it?
SPC was created to address emergency scenarios which may face the U.S.’s defensive sovereignty and security. Hardly the case, here. Although, some readers of this opinion will completely disagree. To that, I offer this challenge: prove your opposing position with facts.
Oh, by-the-way, the 15 million barrels of oil… It’s being put up for bid to the highest dollar offer! Including foreign interests. Who do you believe will benefit? You, the U.S.? Yeah, thought, so…
If you cannot see the person behind the curtain manipulating the levers, then you are destined by it’s outcome.
This opinion was contributed by Gil Olachea, owner of Ceramic, and supporter of this weekly column.
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