Joe Biden is determined to drain the Strategic Petroleum Reserve (SPR).
With midterms fast approaching and gas prices creeping up, President Biden will tap the SRP for 15 million barrels of oil in hopes of bringing gas prices down and avoiding a red tsunami.
Oh, and the White House is still blaming Putin.
“Global crude oil supply flows remain a challenge, due in large part to the ongoing instability caused by Russia’s actions in Ukraine,” the White House said in a statement. “The President is prepared to authorize significant additional sales in coming months if conditions require.
“President Biden has said for months how he is committed to doing everything that he can in his power to address Putin’s price hike,” White House Press Secretary Karine Jean-Pierre said. “He has said this on almost every speech that you’ve heard him talk about when it comes to gas prices and what the American people are seeing and feeling at the pump. And he’s been delivering on that.”
From The Daily Wire:
The national average price for gasoline is currently $3.85 per gallon, according to data from AAA, marking a nearly 62% increase since Biden assumed office at the beginning of last year. In response to the rising prices, Biden announced in March that his administration would release 180 million barrels from the Strategic Petroleum Reserve, a stock of emergency crude oil created to manage supply disruptions in energy markets. Transactions for the final 15 million barrels will clear by the end of December.
Biden has presided over a decrease in the Strategic Petroleum Reserve from 638 million barrels to 409 million barrels, according to data from the Energy Information Administration. When one reporter questioned White House Press Secretary Karine Jean-Pierre this week on why the release was necessary since gas prices are trending downward, as the administration asserts, she claimed that Americans would receive “a little bit of breathing room” as a result of the policy.
JUST IN – Biden to release 15 million more oil barrels from the U.S. Strategic Petroleum Reserve (SPR) in December.https://t.co/t8GqsTForD
— Disclose.tv (@disclosetv) October 18, 2022