Joe Biden plans to deplete the U.S. oil reserves to artificially lower gas prices just months before the presidential election.
When Biden took office in January 2021, the nationwide average gas price was $2.39 per gallon. Today, due to Joe Biden’s policies on domestic oil production, gas prices have risen to $3.44 per gallon.
As reported by the Washington Examiner:
President Joe Biden is prepared to release more oil from the country’s strategic reserves if gas prices increase during the summer. This is the latest plan by the Biden administration to counter higher prices at the pumps and the more expensive prices on various goods due to inflation.
A Biden administration energy adviser suggested gas prices are “still too high” for many in the country and said he favors taking action to “cut them down a little bit further.”
“We will do everything we can to make sure that the market is supplied well enough to ensure as low [a] price as possible for American consumers,” Special Presidential Coordinator for Global Infrastructure and Energy Security Amos Hochstein told the Financial Times. “I think that we have enough in the SPR if it’s necessary.”
Earlier this year, the Biden administration canceled its plan to refill the Strategic Petroleum Reserve, citing that oil prices were “way too expensive.”
Don’t forget that Biden reduced the SPR to its lowest level in 40 years.
He sold the U.S. Strategic Petroleum Reserves (SPR) to Europe, India and China.
Joe Biden depleted the SPR to help China.
In October 2022, Joe Biden said that he would refill the oil reserve at $70 a barrel to generate revenue.
“By selling from the [oil reserve] at the higher price of $90 earlier this year and then re-filling it in the future at a lower price around $70 will actually make money,” Biden said at the time.
A few years ago, Democrats blocked President Trump from filling the Strategic Petroleum Reserve at $24 per barrel.
The Democrats’ decision cost the U.S. billions in potential profits.
Adding to the controversy, Energy Secretary Jennifer Granholm secretly consulted with Chinese Communist Party energy officials before Joe Biden released barrels of oil from the U.S. Strategic Petroleum Reserve (SPR) in 2021.
“Secretary Granholm’s multiple closed-door meetings with a CCP-connected energy official raise serious questions about the level of Chinese influence on the Biden administration’s energy agenda,” APT Executive Director Caitlin Sutherland told Fox News.
The Department of Energy (DOE) downplayed the Biden administration’s consultation with CCP officials, stating that the meeting was part of the agency’s effort to ‘combat climate change.’
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