The White House announced the release of more oil in response to OPEC production cuts. As gas and oil prices rise once again, the lackluster U.S. economy continues to impact American citizens and the global economy.
On Tuesday, Oct. 17th, President Biden declared the release of an additional 15 million barrels of oil from the Strategic Petroleum Reserve. After begging Saudi Arabia to delay OPEC production cuts, embarrassing for any sitting U.S. leader, Biden continued to release more oil from the already-low SPR.
To make matters worse, the supposed “Commander-in-Chief” only decided to release oil from the reserves to maintain his image before Midterm Elections. In fact, President Biden did not even beg the Arabians to inhibit their production cuts, but only delay it until after Midterm Elections.
“‘The Biden administration asked Saudi Arabia, the de-facto leader of oil producer OPEC, to delay its decision on oil output by a month,’ [Saudi Arabia] said in a statement,” and “Notably, the White House’s request would have delayed the decision until after the U.S. midterm elections,” according to recent CNBC article. Also notably, OPEC’s move also angered many Democrats in Congress, not because Democrats care about American citizens’ finances, but because the move poses a threat to their reputation before elections.
It seems the Biden administration only cares about gas prices when it impacts their image, not for the fact rising oil prices from disastrous policies are contributing to a vapid economy.
“Biden will also announce that the administration intends to repurchase crude oil for the SPR when prices are at or below about $67-$72 per barrel,” according to Axios.
Instead of rolling back executive policies which contribute to energy crises, the White House’s announcement to purchase additional crude oil only further highlights Biden’s approach to unnecessarily spend taxpayer dollars on avoidable problems. Alas, bad leadership among the Biden administration becomes evident once again.
The 15 million barrels of oil being released also “completes the release of 180 million barrels authorized by Biden in March, which was initially supposed to occur over six months. That has sent the strategic reserve to its lowest level since 1984 in what the administration called a ‘bridge’ until domestic production could be increased,” according to the Associated Press.
On top of depleting the reserves’ to their lowest levels in almost 40 years, President Biden even wrote off the massive SPR releases as a temporary move until domestic oil production progressed, but newsflash: domestic energy output cannot increase with contradictory policies in place! Ending the Keystone Pipeline is but one example – the Biden administration’s war on oil blatantly contradicts their reasons for releasing more reserves.
In essence, this move by the Executive was purely motivated by maintaining a political image, especially since the directive was made conveniently right before November. The Biden administration has managed to almost decimate the United States’ energy production, the Strategic Petroleum Reserve and guise it behind spurring domestic oil output.
With November Midterm Elections looming, when at the voting booth, voters need to keep in mind what the ruling party in Washington is doing and how it is ultimately tearing the fabric of our Republic.
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