Just in case you haven’t already heard enough bad news lately, it turns out that the levels of the Strategic Petroleum Reserve have now reached their lowest in 40 years as fall and winter fast approach, according to data mined from the Energy Information Administration.
According to the Daily Wire, President Joe Biden has been responding to the spike in high gas prices — which he is responsible for by closing the Keystone XL Pipeline and restricting the leases for oil and gas production — by releasing a total of one million barrels of oil every single day from the Strategic Petroleum Reserves.
For those who might not know what that is, the SPR is sort of like a stockpile of emergency crude oil that is created with the idea in mind to “reduce the impact of disruptions in supplies of petroleum products.”
In January of 2021, there were 638 million barrels in the reserves. That number had decreased dramatically down to 461 million barrels this month, which is a low not seen since March 1985. That was a long, long time ago, folks.
“The scale of this release is unprecedented: the world has never had a release of oil reserves at this 1 million per day rate for this length of time,” the White House went on to say in a statement released earlier this year. “This record release will provide a historic amount of supply to serve as bridge until the end of the year when domestic production ramps up.”
Here’s more information from the Daily Wire report:
At least five million barrels have found their way to nations such as India, the Netherlands, and Italy, as well as a Chinese oil company with links to Hunter Biden.
The decline in emergency reserves occurs months ahead of the winter season. According to the Farmer’s Almanac, the United States could be positioned to experience a “cold December and a very cold January.”
The national average price of gasoline was $2.38 per gallon when President Joe Biden assumed office, according to the Energy Information Administration, and increased to $3.53 per gallon by the start of the Russian invasion of Ukraine. Prices surpassed $5.00 per gallonin early June before subsiding to $3.92 per gallon as of Friday, according to AAA.
“Putin’s Price Hike hit hard in May here and around the world: high gas prices at the pump, energy, and food prices accounted for around half of the monthly price increases, and gas pump prices are up by $2 a gallon in many places since Russian troops began to threaten Ukraine,” Biden said in a June statement. “Even as we continue our work to defend freedom in Ukraine, we must do more — and quickly — to get prices down here in the United States.”
There have been a number of business leaders, including the CEO of JPMorgan Chase, Jamie Dimon, who have been making the call for the United States to step up its game and increase oil production.
This, of course, is a common-sense solution, but we all know that when it comes to progressives, common sense is the furthest thing from common you can get. It’s simple. If we are responsible for producing our own oil and energy rather than relying on that which is produced in other countries, we save a ton of money and create thousands and thousands of new jobs.
Gas prices drop like a gangster stuck in a cement boot and dropped in the harbor and the economy is stimulated like mad. Everybody wins. However, that means freedom, liberty, and no Green New Deal, which is unacceptable.
Why is that unacceptable you ask?
Because then the left cannot redistribute wealth on a massive scale, which is what the Green New Deal and all of the socialist environmental crap is really all about.
“We should focus on climate. The problem with that is because of high oil and gas prices, the world is turning back on their coal plants,” Dimon stated just last week. “It is dirtier. Why can’t we get it through our thick skulls, that if you want to solve climate, it is not against climate for America to boost more oil and gas?”
Senior officials working at the White House have made the ridiculous claim that these higher fuel costs are a good thing because they will force America to accelerate its adoption of renewable energy.
“The more pain we are all experiencing from the high price of gas, the more benefit there is for those who can access electric vehicles,” Transportation Secretary Pete Buttigieg stated last month while participating in a hearing before the House Transportation and Infrastructure Committee.
“The real truth is that as long as our nation remains overly reliant on oil and fossil fuels, we will feel these price shocks again,” Energy Secretary Jennifer Granholm remarked several months ago. “This is not going to be the last time. The next time there’s a war, the next time there’s a pandemic or another hurricane, these extreme weather events we are experiencing — they will impact the access that we have to fossil fuels.”
The incompetence is mind-blowing, isn’t it?
This story syndicated with permission from michael, Author at Trending Politics
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