Joe Biden’s America.
The Strategic Petroleum Reserve is near historic lows after Biden drained the SPR down to just 17 days of supply as war broke out in the Middle East.
And Biden has no plans to refill it anytime soon.
According to Reuters, data provided from the Energy Information Administration (EIA) showed the Strategic Petroleum Reserve had about 351.3 million barrels as of September 29.
Biden sold the U.S. Strategic Petroleum Reserves (SPR) to Europe, India and China.
Joe Biden depleted the SPR to help China.
Fox Business reported:
The Biden administration’s drawdowns of the Strategic Petroleum Reserve (SPR), which serves as America’s emergency stockpile of petroleum, and high market prices delaying efforts to replenish it have left the reserve near its lowest level since 1983 as the war in the Middle East that could destabilize global oil supplies.
Data from the Energy Information Administration (EIA) indicates that the SPR had about 351.3 million barrels of oil stockpiled as of the week ending Sept. 29 — a slight increase from the lows of 346.8 million barrels in July and August. The last time the SPR was at or below 350 million barrels for an extended period of time was the fall of 1983, when it was still in the process of being filled, and the reserve had over 650 million barrels stockpiled for most of the last decade.
A 2021 estimate from the EIA puts U.S. oil consumption at about 20 million barrels of oil per day. This means that if the U.S. was forced to rely solely on oil in the SPR without access to new domestic production or imports, the U.S. would deplete the SPR in about 17 days — about half the historical average of 33 days dating back to 1990.
Last October Joe Biden absurdly claimed he would be refilling the oil reserve at $70 a barrel to make money.
“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,” said Biden.
A few years ago the Democrats blocked President Trump from filling the Strategic Oil Reserves at $24 per barrel.
The Democrats cost the US BILLIONS in potential profits.
To add to the scandal, Energy Secretary Jennifer Granholm secretly consulted with CCP energy officials before Joe Biden released barrels of oil from the US 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 Regime’s consultation with CCP officials and said the meeting was a part of the agency’s effort to ‘combat climate change.’
“Solving the climate crisis means engaging with competitors and allies in clear and substantive discussions — especially among the nations emitting the most carbon pollution into the atmosphere,” a DOE spox told Fox News. “We must all address the transnational challenge of climate change to our planet.”
The Biden crime family has received $31 million from companies tied to the Chinese Communist Party’s Ministry for State Security. The only explanation for the Biden Regime’s treasonous actions in wartime is that they are “intentionally trying to harm the United States”, said Tucker Carlson. “If that’s not an indictable offense, it’s certainly an impeachable one.”
Sleep well, America.
Credit: Source link
