Staff Reports
The Biden administration recently made a significant decision to tap into the United States Strategic Petroleum Reserve (SPR), extracting millions of barrels of oil in what some believe is an attempt to aid Democrats in the upcoming midterms. This move follows a series of actions taken by President Biden to transition the nation's energy policies, which included imposing stringent restrictions on U.S. oil production and canceling infrastructure projects that supported the oil and gas sector. As a result, the SPR, which held approximately 346,758,000 barrels of oil as of July, is now slightly over half full due to Biden's actions. This decision depletes the nation's emergency oil backup, originally established to safeguard against threats from adversarial nations. It's paradoxical that President Biden's energy agenda has created a situation that is now being used to rationalize his actions.
Joke Biden gave Iran $6 Billion and $600 Million to Palestinians and probably much more used for Hamas terror in Israel.
So why hasn't Joke enforced the oil ban on Iran that Trump imposed? Trump had them exporting 400,000 barrels a day, but Joke permits them 4 Million a day! pic.twitter.com/0UmskUYy11
— Fixing America ?? (@PhillipDenton) October 16, 2023
While we have been consistently reporting on Biden's energy-related challenges and his efforts to maintain affordable gas prices, there is growing scrutiny in some sections of the mainstream media regarding his utilization of the SPR. For instance, Politico has raised concerns about the diminished reserves limiting Biden's capacity to respond to potential oil market shocks. With the SPR's inventory at such low levels, the United States is increasingly dependent on oil supply from countries like Saudi Arabia, which puts the nation in a vulnerable position and weakens Biden's ability to impose economic sanctions, especially those related to Iran's oil exports.
Furthermore, the Biden administration's inability to secure increases in oil supply from OPEC+ has become apparent. OPEC+ has not only rejected America's requests but also reduced production, undermining Biden's strategy. With the SPR holding less than half its capacity, Biden has fewer tools at his disposal for holding countries accountable for embargo violations. This situation exemplifies the administration's perceived weakness and underscores the urgent need to boost domestic energy production. By supporting development projects and increasing domestic energy output, the United States can reduce its reliance on other nations and gain more control over the global oil and gas market.
