The Biden administration is dipping into the U.S. emergency reserves to lower the rising gas prices their policies have caused.
Over 5 million barrels that were released were sent to Europe and Asia – not the United States.
More than 5 million barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices hit record highs.
About 1 million barrels per day is being released from the Strategic Petroleum Reserve (SPR) through October. The flow is draining the SPR, which last month fell to the lowest since 1986. U.S. crude futures are above $100 per barrel and gasoline and diesel prices above $5 a gallon in one-fifth of the nation. U.S. officials have said oil prices could be higher if the SPR had not been tapped.
“The SPR remains a critical energy security tool to address global crude oil supply disruptions,” a Department of Energy spokesperson said, adding that the emergency releases helped ensure stable supply of crude oil.
Breitbart’s Nolte explained how this is a disaster.
Because he hates Americans, President Joe Biden is shipping much-needed American oil to foreign countries.
The whole idea of the Strategic Petroleum Reserve (SPR), which is owned by the U.S. government, specifically the U.S. Department of Energy, is to hold on to about 700 million barrels of oil in the event of an emergency or disruption.
But now, because His Fraudulency Joe Biden has closed pipelines, killed oil and gas leases, refused to allow refining to expand, and has gone to war with affordable energy; the SPR is releasing about a million gallons a day into the U.S. economy.
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