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President Biden's Energy Department is planning to drain another 26 million barrels of Strategic Petroleum Reserve since the inflation continues to skyrocket.
The SPR was 695 million barrels at times Trump was President, now there is 371 million barrels left and Biden plans to drain another 26 million barrels since his Inflation continues to surge.
U.S. to sell 26 mln bbls of oil reserves as mandated by Congress
The Biden administration said on Monday it is selling 26 million barrels of crude oil from the Strategic Petroleum Reserve, a release that had been mandated by Congressin previous years.
The U.S. Department of Energy had considered cancelling the fiscal year 2023 sale of the 26 million barrels after the Biden administration last year sold a record 180 million barrels from the reserve. But such a cancellation would have required Congress to act.
When Biden took office in January 2021, the SPR contained 638 million barrels out of a congressionally authorized maximum capacity of 713 million barrels.
Maybe Biden is thinking that we don't need all that oil to rely on if a War should break out because you know wars these days are fought on the interweb and with BALLOONS.
We should all be really nervous when Biden starts selling off our strategic Helium reserves.
Oil? Who needs it when the Left is going all in on Electric Everything ?
Maybe Biden is thinking that we don't need all that oil to rely on if a War should break out because you know wars these days are fought on the interweb and with BALLOONS.
We should all be really nervous when Biden starts selling off our strategic Helium reserves.
Oil? Who needs it when the Left is going all in on Electric Everything ?
Those who are really in charge know that draining the Petroleum reserve weakens us, just as drawing down our stockpiles of artillery and missiles weakens us. We should be pulling out all the stops to refill all of these reserves.
I wasn't aware we had a strategic helium reserve. I though the idea had been shot down, because the subject was not heavy enough.
(Seriously, I thought the whole thing had been lost to commercial interests, but, I see that is incorrect: https://www.nbcnews.com/science/scie...-air-rcna69309
“Helium is a nonrenewable resource. NASA and SpaceX need helium for liquid fuel rockets,” he said. “The MRI industry needs helium. The pharmaceutical industry is reliant on helium. And so is the Department of Defense.”)
Bringing gas prices down for a short time will do NOTHING to tame inflation.
The Fed poured over $10 trillion into the economy devaluing the dollar.
The Fed balance sheet is only down to $8.3 trillion so they haven't taken much back yet.
The Fed balance sheet was at $3.7 trillion before they started pumping due to the pandemic.
And besides...our food supply relies on diesel, not gas you fill your car with.
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