President Joe Biden is shipping our country’s reserve oil overseas as if Americans weren’t suffering enough with domestic gas prices. Does he think Europe and Asia need it more than we do?
This release of reserve crude happened in June when Biden’s administration allowed over 5 million barrels to head abroad. This is oil that is supposed to ease American oil needs, so why is he giving it away to other countries?
Gas prices are currently averaging anywhere from $4.75 to $5 per gallon around the country. Diesel ranks even higher at nearly $6 dollar a gallon.
As an example of the government’s release of reserve oil to other countries, Italy received just under 500,000 gallons of oil courtesy of Phillips 66. The Netherlands was another European country to garner more American oil.
Shipping oil overseas when Americans are facing inflation and soaring gas prices does not match Biden’s supposed plan to help ease the pain. Not sure how giving it away causes U.S. citizens any comfort?
There is supposed logic behind the shipping of so much oil to other nations. The “logic” surrounds supposedly “stabilizing” supplies on a global basis.
In a statement to Reuters, a Department of Energy spokesperson said, “The [Strategic Petroleum Reserve] remains a critical energy security tool to address global crude oil supply disruptions.” He was quick to point out that a ship is scheduled to carry another load overseas later this month.
The price of gasoline at the pump has gone up almost $2 since a year ago. In a move to “help” Americans, the president announced in March a plan to begin releasing oil from the country’s reserved supply.
Biden stated then he felt America’s pain at the pump: “As you’ve heard me say before, I grew up in a family like many of you, where the price of a gallon [of] gasoline went up, it was a discussion at the kitchen table.”
His plan involved releasing up to 1 million barrels a day over a 6 month period, with a timeline coinciding with Russia’s invasion of Ukraine.
Since Biden began the strategic release of oil from the emergency reserves, many Americans have not noticed drastic relief in gas prices. Some might even say there has not been “marginal” relief.
November elections are not very far away. The Democrats might not see much gratitude in how Americans vote this Fall.