In an editorial, the Wall Street Journal says President Biden is drawing down the Strategic Petroleum Reserve to help Democrats in the midterms and that, yes, the reserve is getting dangerously low.
According to the piece:
White House officials accuse OPEC and its allies of manipulating oil prices, but then what do you call what President Biden is trying to do? Three weeks before Election Day, Mr. Biden is ordering 15 million more barrels released from the nation’s Strategic Petroleum Reserve (SPR) to reduce gasoline prices . . .
The main problem is that oil demand has outstripped supply amid the post-pandemic economic recovery owing to a lack of investment, especially in the U.S., which had been the world’s swing producer . . .
The Administration says the 400 million or so barrels that remain are “more than ready to respond to energy security needs today.” That’s also far from clear.
One reason is that the Administration is fast depleting the medium-sour grade crude in the reserve that is most useful to U.S. refineries . . . A true national emergency could also fast deplete the reserve.
2 thoughts on “WSJ accuses Biden of threatening national security for political purposes”
Gas Pump Joe at it again, thinking one of day oil will reduce retail pricing.
The reserve is not an economic tool, Joe.
Its an emergency reserve for LACK of oil.
We have plenty of oil and gas. HE chose to cut us off, Joe Biden himself.
The only tool we see is Joe.
Sorry, rippin and seething over here.
VOTE VOTE VOTE !!!!!!
Uhhhh, Joe, OPEC EXISTS to manipulate the oil prices. If that is a shocker to you, then you are unfit to be CIC. Joe, you have put us at a disadvantage with OPEC, as well as every international organization that hates us) with your idiotic policies and you should be tried for treason and removed from office in my opinion.
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