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Biden may release up to 180 million barrels of oil from the SPR

So that would be for about six months at a million barrels a day, let’s see, takes us up to about a month before Election Day.

According to Bloomberg:

The Biden administration is weighing a plan to release roughly a million barrels of oil a day from U.S. reserves, for several months, to combat rising gasoline prices and supply shortages following Russia’s invasion of Ukraine, according to people familiar with the matter.

The total release may be as much as 180 million barrels, the people said, speaking on condition of anonymity ahead of an official move.

The plan is accompanied by a diplomatic push for the International Energy Agency to coordinate a global release by other countries. A final decision hasn’t been reached on the global release, but the White House may make an announcement on the U.S. release as soon as Thursday, one of the people said.

5 thoughts on “Biden may release up to 180 million barrels of oil from the SPR”

  1. Per the reference below, we have 588 million barrels in reserve. Taking out 180 million would mean reducing our reserves about 30%. This is appalling and dangerous to our national security. The oil reserves are to be used on real emergencies, not on a politically created gasoline problem, a problem created by biden when he has shut down a significant portion of our oil production.
    The reference below further states that we consume approx 18 million barrels of oil per day but that we only produce 12 million barrels per day. If, as Rebekah assumes, a million barrels is released per day, then this would have a minuscule effect on the price at the pump.

    1. JG is spot on correct.
      This is nothing but window dressing, political posturing. If Biden was serious, he would:
      Permanently eliminate the federal gas tax.
      Open drilling permits on viable land.
      Commit to the XL
      Open his arms to Musk instead of turning his back on him.
      Create a new initiative to build nuke plants in safe zones.
      Put up a giant sign that tells the EU we are open for business, come and get it!

      But he is not a serious person, even when he yells.. And the world knows it.


    2. “The oil reserves are to be used on real emergencies, not on a politically created gasoline problem” –I agree. These children are bankrupting us as they play pretend leader. Obama did the same thing as an idiotic stunt… “Release the Kraken… uh, I mean The Strategic Oil Reserves”. Idiots.

      1. Makes you wonder if Obama is really in charge, if this is his coveted third term? Once again we have Russia invading neighboring territories, Obama retreads in office, working again for Iran’s nuclear capabilities, open borders, green energy and climate BS, and taking oil from our reserves instead of drilling for it ourselves.

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