When Joe Biden announced that he’d be releasing 1,000,000 barrels per day from our strategic petroleum reserves to help bring the cost of oil down I nearly fell off my chair, but to then hear he sent 5 million barrels abroad from OUR reserves when Americans can’t even afford to fill their cars, I thought this man is intentionally trying to destroy the energy market.
What other explanation is there at this point?
Let me begin by saying I believe this is yet again another reckless move by the Biden Administration. This is no different than printing money to help America out of a jam that his administration caused in the first place by exasperating the Covide pandemic. If there’s one thing the Democrats and Biden are good at (and trust me, there aren’t many things), it’s causing problems to then make themselves look like heroes. The problem, however, is that their solutions always come back to bite them in the ass, and tapping our oil reserves will be no different.
Biden is now making matters much worse for America by sending 5,000,000 barrels of oil abroad. Why? Nobody knows exactly. Daily Mail claims they reached out to Phillips 66 but has not responded to DailyMail.com’s request for comment. Atlantic Trading & Marketing (ATMI) did not respond to a request for comment.
Phillips 66, the fourth-largest U.S. oil refiner, shipped about 470,000 barrels of sour crude from the Big Hill SPR storage site in Texas to Trieste, Italy, according to U.S. Customs data obtained by Reuters.
Trieste is home to a pipeline that sends oil to refineries in central Europe.
ATMI, an arm of French oil major TotalEnergies, exported two cargoes of 560,000 barrels each, the data showed.
Cargoes of SPR crude were also headed to the Netherlands and to a Reliance refinery in India, an industry source said.
A third cargo headed to China, another source said.
At least one cargo of crude from the West Hackberry SPR site in Louisiana was set to be exported in July, a shipping source added.
The latest exports follow three vessels that carried SPR crude to Europe in April, helping replace Russian crude supplies.
U.S. crude inventories are at the lowest since 2004 as refineries run near peak levels.
Refineries in the U.S. Gulf coast were at 97.9 percent utilization, the most in three and a half years.
Biden recently criticized oil companies and gas stations for “price gouging” despite his administration’s reckless policies that got America in this mess in the first place.
On Monday, U.S. energy producers hit back at Biden after the president tweeted that ‘companies running gas stations’ should simply ‘bring down the price you are charging at the pump’.
Biden tweeted from his official White House handle on Saturday: ‘My message to the companies running gas stations and setting prices at the pump is simple: this is a time of war and global peril.
‘Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now.’
The U.S. Oil & Gas Association replied: ‘Working on it Mr. President.
‘In the meantime – have a Happy 4th and please make sure the WH intern who posted this tweet registers for Econ 101 for the fall semester.’
Biden has regularly attacked oil companies, saying they only care about profits and not the well-being of the average consumer.
The companies responded that they in turn have increased production to try to tame prices but that these are set on the world market and are subject to dynamics that are not under the control of US oil giants.
One thing’s for sure – if Biden was so concerned, he wouldn’t be sending 5,000,000 barrels of OUR oil abroad, therefore limiting supply even further, which according to simple economics, drives the price up even further!
So no, Mr. President, oil companies are not the problem… YOU ARE.