Biden to release 50M barrels of oil from
Strategic Petroleum Reserve amid gas price spike
Fox Business,
by
Paul Conner
&
Brooke Singman
Original Article
Posted By: Imright,
11/23/2021 9:06:42 AM
President Biden said the Department of Energy will release 50 million barrels of oil held in the U.S. Strategic Petroleum Reserve, as Americans pay more for gas now than they have in years.China, India, Japan the Republic of Korea and the United Kingdom will likewise tap their reserves in a coordinated effort to drive down prices.Of the 50 million barrels, 32 million will be released but eventually returned to the Strategic Petroleum Reserve in the next few years, the White House said. The remaining 18 million barrels are part of a sale that Congress has already authorized; the White House said it was accelerating the release of that sale.
Typical democrat bonehead move that does nothing to increase the supply of fuel.
CNN and MSNBC will congratulate FJB for his brilliance.
29 people like this.
Reply 2 - Posted by:
justavoter 11/23/2021 9:20:29 AM (No. 986352)
Article does not mention who gets the oil from the sale. My guess is China. Does anybody know?
22 people like this.
Reply 3 - Posted by:
Jesuslover54 11/23/2021 9:21:35 AM (No. 986354)
FJB
27 people like this.
Reply 4 - Posted by:
Jethro bo 11/23/2021 9:22:10 AM (No. 986356)
Brilliant move. Carter did the same thing back in the 70s. I remember it keep the prices from jumping up a dime a gallon for about 2 days and decrease wait times in the gas line from 3 hours 51 minutes to 3 hours and 49 minutes.
43 people like this.
Reply 5 - Posted by:
millstream 11/23/2021 9:25:30 AM (No. 986361)
This clown has no idea why there is a shortage of supply
28 people like this.
Reply 6 - Posted by:
bighambone 11/23/2021 9:32:11 AM (No. 986369)
We will probably find out sometime in the future that this release of oil from the Strategic Petroleum Reserve was part of a bait and switch to disguise and replace other domestic oil that was sold to “Asia”.
By now everyone who has been paying attention should have figured out the Biden does not actually speak out about issues, but instead reads comments from his trusty teleprompter that have been formulated and placed on the device by disguised others from among the old Obama crew that are actually running the White House.
24 people like this.
Reply 7 - Posted by:
red1066 11/23/2021 9:33:18 AM (No. 986370)
Biteme isn't doing anything. This is all Obozo and his buddies. They see their thousand year reign about to come undone in less than two years.
23 people like this.
Reply 8 - Posted by:
starboard 11/23/2021 9:34:00 AM (No. 986372)
What happens if we have a grid breakdown? Or if Yellowstone erupts or if we are hit by a large meteor. How about if China decides to bomb us? That fuel is there for a catastrophic and unpredictable crisis not because the Fake potus who wanted to undo everything good that President Trump did to help this country.
Moreover, this clearly illustrates the mentality of who is running this country...unelected angry Marxists with low IQs and big egos along with their brainless stooge in the Oval Office.
34 people like this.
Reply 9 - Posted by:
Namma 11/23/2021 9:35:43 AM (No. 986374)
the "biden administration" has been selling oil from the reserve to asia. we sont have any left in case of war. I am beginning to think this is the plan.
33 people like this.
Reply 10 - Posted by:
Troutgreen 11/23/2021 9:36:36 AM (No. 986376)
Biden's strategy for the Stategic Oil Reseve is to burn it off in a couple of days. Then we can beg China and OPEC to pretty-please sell us some of it back at much higher prices. He will promise them that we will do better and not be energy independent ever again.
Great strategic thinking, Joe. FJB.
18 people like this.
Reply 11 - Posted by:
zephyrgirl 11/23/2021 9:39:13 AM (No. 986378)
Total folly. What people don't realize is that the Strategic Petroleum Reserve has a limited number of drawdown cycles and every one of these "releases" diminishes the ability of the Reserve to act in a real crisis. SPR oil is stored in multiple caverns leached out in salt domes along the gulf coast. The oil is drawn down by injecting fresh water into the cavern, forcing the oil out (because oil, being lighter than water, "floats" to the top). Every injection of fresh water dissolves salt around the cavern, enlarging the cavern. During each drawdown, the caverns become larger, and the salt walls between the caverns become narrower. Eventually, the walls between the caverns become so narrow that the cavern walls could collapse, and the cavern must be emptied and abandoned. The designers of the Reserve knew this and but assumed that the SPR would only be used in a true crisis. The way it is being used not only reduces its utility in a true crisis, but also endangers our security in the event of a national emergency.
33 people like this.
Reply 12 - Posted by:
Blue-Z-Anna 11/23/2021 9:41:08 AM (No. 986383)
Those who live in the world of fantasy symbolism and politics not only get the answer wrong but they often miss it by several orders of magnitude.
For example what good are millions of electric vehicles if we neglect to generate much much more electricity?
Nukes are the obvious answer but much too yucky / spooky for the ignorant, childish Marxocrats.
16 people like this.
Reply 13 - Posted by:
Twinkle93 11/23/2021 9:51:35 AM (No. 986393)
The largest release ever from the reserve.
7 people like this.
Reply 14 - Posted by:
Hermit_Crab 11/23/2021 9:52:00 AM (No. 986395)
OK, that 18 million dollar sale is to some thus far unnamed "Asian nation"
And of course 10% back to 'the big guy'
(I'm against the use of the strategic reserves for any reason short of war or major natural disaster)
Welcome to 2021 America: where kakistocracy and kleptocracy blend into a 'perfect storm' of intentional destruction of the nation.
That 32 million barrels will run the nation for maybe four days, assuming it even actually gets to your local gas station. Then we will be back where we started, but with no reserve for emergencies.
They really want to save the economy and help the consumer, then go back to the Trump Energy policy.
11 people like this.
Reply 15 - Posted by:
Hermit_Crab 11/23/2021 9:56:11 AM (No. 986399)
DOH! BARREL, not dollar in the first line of my post above
3 people like this.
Reply 16 - Posted by:
Califedup 11/23/2021 10:00:58 AM (No. 986408)
The USA consumes an average of 20 Million Barrels of Oil per day so the 50 million figure cited by the communist death democrats equals roughly a 2 days supply. This is a drop in the proverbial bucket and demonstrates the absolute contempt the communist death democrats have for us in thinking that we will swallow this BS that releasing this oil from our Strategic Reserve will actually bring down the price of gas and heating oil. These commies have to be removed from the government.
One big question is who will get the broker's fee for selling this oil? Bet somehow there is an oil brokerage firm stealth connected to the Biden, Obama, Clinton, Schumer, Saunders scum . F Hunter Biden must be real busy right now talking with his Chinese masters on how to get this oil to them at a heavily discounted price.
Evil is ruling over us every single day.
23 people like this.
Reply 17 - Posted by:
wilarrbie 11/23/2021 10:02:36 AM (No. 986412)
We're eating our seed corn.
27 people like this.
Reply 18 - Posted by:
Proud Texan 11/23/2021 10:15:16 AM (No. 986426)
Keeping America weak. Keeping America dependent on enemies for the very energy we need to survive is what Dems have been doing with laws and regulations for years Remember the windfalls profit tax put on under Carter. Oil companies could lose their behind drilling a dry hole, but weren't allowed to keep any profit if they found a good one. The only way they could survive was importing oil.
10 people like this.
Reply 19 - Posted by:
rikkitikki 11/23/2021 10:27:24 AM (No. 986444)
The SPR was established to provide emergency supplies of crude oil to meet a true crisis.
Biden's plunging approval ratings, all due to his own criminally negligent policies, may be a crisis for him, but not for America.
12 people like this.
Reply 20 - Posted by:
rikkitikki 11/23/2021 10:28:33 AM (No. 986446)
Probable headline from next week:
"Hunter Biden named as director of newly formed Federal agency to broker sale of SPR reserves to CCP."
8 people like this.
Reply 21 - Posted by:
bobn.t 11/23/2021 10:34:12 AM (No. 986454)
Twenty minute supply doesnt make any difference.
Thank you Joe Dementia.
Btw: you"re drooling
7 people like this.
Reply 22 - Posted by:
marbles 11/23/2021 10:37:15 AM (No. 986456)
And when we run out, then what ?
6 people like this.
Reply 23 - Posted by:
Strike3 11/23/2021 10:37:29 AM (No. 986457)
Do we even have 50 million barrels left after the big yard sale to foreign entities? If this was Biden's idea I'm certain there is something wrong with it. I would think it would drive up prices even higher with people knowing that we are dipping into the savings for political reasons.
6 people like this.
Reply 24 - Posted by:
smokincol 11/23/2021 11:06:23 AM (No. 986486)
good move, you foolish clown, now how is that oil going to get to the refinery's that are closing due to the lack of oil being sent to be refined? good thing you didn't plan D-Day.
7 people like this.
Reply 25 - Posted by:
Thos Weatherby 11/23/2021 11:31:50 AM (No. 986514)
Wow 50 M barrels. That's a 2 and a half DAY supply. Wouldn't last us until the end of the week.
7 people like this.
Reply 26 - Posted by:
Pam 11/23/2021 11:56:17 AM (No. 986534)
Being typical liberal. Don’t think they will replenish the supply once used.
4 people like this.
Reply 27 - Posted by:
bobmadison 11/23/2021 12:05:55 PM (No. 986543)
At best, a THREE day supply.
3 people like this.
Reply 28 - Posted by:
Starboard_side 11/23/2021 12:07:09 PM (No. 986544)
So, this option was okay with the environmental groups?
Now you know they don't care about people and their jobs, or they would have opened up production in the United States.
It's not about climate change, it's always been about pollution, then control.
You see, with an gasoline powered automobile, you can go wherever you'd like, at any time you'd like. It's called freedom to move about.
So, the idea should be to champion ways to reduce the pollution and CO2 (anyone still not connecting the massive deforesting of the Amazon which was a major concern 30-some years ago and worse now?).
Electric vehicles probably have a massive battery disposal problem.
Autonomous vehicles are their real goal, however, and they would then be able to determine when, where and how much each trip will cost, once they are the new standard. After all, they'd control the use of the roadways. They could simply just not allow you to use the vehicle.
5 people like this.
Reply 29 - Posted by:
franq 11/23/2021 12:19:26 PM (No. 986563)
Won't help. Will hurt. Typical lib results.
4 people like this.
Reply 30 - Posted by:
dman 11/23/2021 1:30:39 PM (No. 986625)
How much weaker will our nation be, once that reserve is depleted?
To paraphrase late Raiders Coach Al Davis, "Just drill, baby.!"
4 people like this.
Reply 31 - Posted by:
Penney 11/23/2021 2:17:57 PM (No. 986667)
Biden's decisions are increasingly based on his leftist political agenda, not upon his Oath of Office to America and its citizens. He is doing more harm than good.
3 people like this.
This will have exactly no effect on the price we pay at the pump.
3 people like this.
Reply 33 - Posted by:
navybrat 11/23/2021 2:38:35 PM (No. 986683)
A political move to take the heat off his failing administration.
3 people like this.
Reply 34 - Posted by:
hershey 11/23/2021 3:03:23 PM (No. 986701)
And how many has he sold overseas? Just asking for a friend..
1 person likes this.
Reply 35 - Posted by:
TheTruthHurts 11/23/2021 3:29:41 PM (No. 986731)
The strategic reserve was created for an emergency as during the Arab Oil Embargo of '72-'73. This is no emergency. This is a shortage cause by the old what's his name in chief. How can this guy get by with this? This administration has proven that there is entirely too much power in the hands of one person.
2 people like this.
Reply 36 - Posted by:
udanja99 11/23/2021 7:37:27 PM (No. 986959)
Oil that we paid for with our taxes and now TaliBiden wants us to pay for it again at the pump.
FJB!
0 people like this.
Below, you will find ...
Most Recent Articles posted by "Imright"
and
Most Active Articles (last 48 hours)