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Biden said the Department of Energy will release 50 million barrels of oil from the SPR

Biden said the Department of Energy will release 50 million barrels of oil from the SPR thumbnail

A number of critics, including the U.S. Chamber of Commerce and former President Trump, opposed President Biden‘s decision to tap into the Department of Energy‘s Strategic Petroleum Reserve, slamming the Biden administration for “ineffectual band aids” that will not replace domestic production.

Biden, on Tuesday morning, said the Department of Energy will release 50 million barrels of oil held in the U.S. Strategic Petroleum Reserve, as Americans pay more for gas now than they have in years.

Of the 50 million barrels, 32 million will be released, but eventually returned to the Strategic Petroleum Reserve in the next few years, the White House said. The remaining 18 million barrels are part of a sale that Congress has already authorized; the White House said it was accelerating the release of that sale.

“America’s real strategic petroleum reserve is in places like the Permian Basin and the Gulf of Mexico. The Department of Energy’s reserve should only be used for supply disruptions,” Christopher Guith, senior vice president of the Chamber of Commerce’s Global Energy Institute, said in a statement Tuesday.

“Instead of ineffectual band aids, the White House should focus on policies that will encourage domestic production of oil and natural gas,” he continued. “Rather, all the Administration has done is threaten energy production on federal lands, cancel pipelines and beg Saudi Arabia and Russia for more oil.”

He added: “It’s time to unleash America’s full potential to meet the world’s energy needs.”

Karim Howard, 27, puts in just enough gas so he can drive to Costco for cheaper gas as drivers select from various fuels priced near of above over $6 dollars at a Shell gas station located at South Fairfax, West Olympic and San Vicente Blvd in Los An (Al Seib / Los Angeles Times via Getty Images / Getty Images)

Trump also released a strongly worded statement Tuesday morning after the announcement from the White House.

“For decades our Country’s very important Strategic Oil Reserves were low or virtually empty in that no President wanted to pay the price of filling them up,” Trump said, noting that he “filled them up three years ago, right to the top, when oil prices were very low.”

“Those reserves are meant to be used for serious emergencies, like war, and nothing else,” Trump said. “Now I understand that Joe Biden will be announcing an ‘attack’ on the newly brimming Strategic Oil Reserves so that he could get the close to record-setting high oil prices artificially lowered.”

Trump said the United States was “energy independent one year ago,” but said now, the country is “at the mercy of OPEC,” with gasoline selling for “$7 in parts of California, going up all over the Country, and they are taking oil from our Strategic Reserves.”

“Is this any way to run a Country?” Trump asked.

In March 2020, under the Trump administration and at the onset of the coronavirus pandemic, the Department of Energy purchased 77 million barrels of American-made crude oil to begin to fill the Strategic Petroleum Reserve.

And in April 2020, when oil prices sat deep in the red for the first time in history, Trump again moved to fill up the Strategic Petroleum Reserve.

“Based on the record low price of oil, it is at a level that is very interesting to a lot of people, we’re filling up our national petroleum reserves, strategic reserves and we are looking to put as much as 75 million barrels into the reserves themselves that would top it out, that would be the first time in a long time it’s been topped out and we’d get it at the right price,” Trump said at the time.

A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, June 9, 2016.  (REUTERS/Richard Carson / Reuters Photos)

The SPR was created between 1973 and 1974 after the oil embargo, as noted by the U.S. Department of Energy. Its purpose is to act as a shield against the disruption or depletion of oil supplies for the U.S.

Meanwhile, Sen. John Barrasso, the top Republican on the Senate Energy Committee, told FOX Business that the Biden administration and Democrats in Congress “are waging a war on American energy.”

“President Biden’s policies are hiking inflation and energy prices for the American people,” Barrasso said. “Tapping the Strategic Petroleum Reserve will not fix the problem.”

Barrasso said that the U.S. is  “experiencing higher prices because the administration and Democrats in Congress are waging a war on American energy.”

“President Biden has either eliminated or severely restricted access to America’s oil and natural gas resources on federal lands and waters,” he continued, adding that the investment banking industry has “also withheld capital from companies looking to produce U.S. oil and natural gas” due to pressure from Democrats and environmental activists.

“Begging OPEC and Russia to increase production and now using the Strategic Petroleum Reserve are desperate attempts to address a Biden-caused disaster,” Barrasso said. “They’re not substitutes for American energy production.”

But the senior vice president of policy, economics and regulatory affairs at the American Petroleum Institute Frank Macchiarola said it is well-within the Biden administration’s power to manage the reserves “as they see fit.”

“Congress gave the president and secretary of energy broad authority to manage the SPR and it’s the administration’s responsibility to exercise that authority as they see fit,” Macchiarola said. “We believe that any impact resulting from an SPR release is likely to be short-lived unless it is paired with policy measures that encourage the production of American energy resources.”

The White House touted the move, saying “the President stands ready to take additional action, if needed, and is prepared to use his full authorities working in coordination with the rest of the world to maintain adequate supply as we exit the pandemic.”

Biden’s pressure on 14-nation OPEC and Russia to pump more supply into the global market has so far had little effect. The administration has blamed higher prices in part on the effects of the economy recovering and restarting from the COVID-19 pandemic. It has also singled out energy companies for alleged anti-competitive behavior. Biden last week asked the Federal Trade Commission to investigate whether “illegal conduct” is driving up prices at the pump for Americans.

“There is mounting evidence that declines in oil prices are not translating into lower prices at the pump,” the White House said Tuesday.

Americans paid an average of $3.29 per gallon in October, according U.S. data, the highest since September 2014.

Energy Secretary Jennifer Granholm on Tuesday also touted the action to tap into the Strategic Petroleum Reserve.

“As we come out of an unprecedented global economic shutdown, oil supply has not kept up with demand, forcing working families and businesses to pay the price,” Granholm said. “This action underscores the President’s commitment to using the tools available to bring down costs for working families and to continue our economic recovery.”

The Department of Energy explained that the exchange will be conducted with crude oil from all four SPR storage sites, noting that an exchange is “a mechanism specifically suited to the current economic environment, where markets expect future oil prices to be lower than they are today.”

“The exchange creates a bridge from today’s high price environment to a period of lower prices, and automatically provides for restocking the SPR over time,” the Energy Department said.

Oil prices rose slightly on Tuesday after the previous day’s rally, supported by expectations of a tighter market as output talks of OPEC+ nations were called off, but concerns that members may start to increase production capped gains. (REUTERS/Ramz

As of Nov. 19, there were 604.5 million barrels in the U.S. Strategic Reserve, according to the Department of Energy.

In 2020, the United States consumed an average of about 18.19 million barrels of petroleum per day, or a total of about 6.66 billion barrels of petroleum — the lowest level of annual consumption since 1995. The drop in consumption in 2020 from 2019 was the largest recorded annual decline in U.S. petroleum demand, and was largely the result of the global response to the COVID-19 pandemic, according to the U.S. Energy Information Administration. 

Meanwhile, the White House said the move Tuesday reflects on Biden’s “commitment to do everything in his power to bring down costs for the American people and continue our strong economic recovery,” while maintaining the administrations commitment to Biden’s “ambitious clean energy goals,” which are included in both the bipartisan Infrastructure Law Biden signed last week, and his Build Back Better agenda, which the House of Representatives passed last week.

The White House said both spending packages represent “the largest investment in combatting climate change in American history and is a critical step towards reaching a net-zero emissions economy by 2050 and reducing our dependence on foreign fossil fuels.”

FOX



30 Comments on "Biden said the Department of Energy will release 50 million barrels of oil from the SPR"

  1. Biden’s hairplug on Tue, 23rd Nov 2021 2:09 pm 

    Statue Jefferson removed from NYC City Hall:

    https://news.sky.com/story/statue-of-us-president-thomas-jefferson-removed-from-new-york-city-hall-over-slavery-links-12476201

    “Statue of US President Thomas Jefferson removed from New York City Hall over slavery links“

    European America is dead.
    Time for a rebirth.
    Won’t happen by sitting on your hands.

  2. WeAreComingForYouSkinnyUglyAlienWithoutMuscles on Tue, 23rd Nov 2021 4:50 pm 

    —–This is were this is interesting and why the enemy lost control of the electromagnetoc earth reality. How did it happen I don’t know.

    It is entirely possible that Elon Musk does not exist in real life. He only exist as a construction in the electromagnetic world. A bit like a CGI construction but assembled with small units of electromagnetic energy. This is why we see him most of the time on mediums running with electricity : internet, TV, Cable.

    Who really own Tesla if Musk is just an electromagnetic construct.

    Imagine how upset the higher GOD’s are. They took away the electromagnetic reality from the original owners and transfer it to themselves and me. It is funny that Google own YouTube but you see face of Jeff Bezos with facial skin cancer. I guess they, the originals owners, don’t own YouTube anymore. Me and the higher GOD’s do.

    They told me, we need your help, we don’t have a human body so we are missing some info that only you can have access to.

  3. SomeNiceQuestionForYouHere on Tue, 23rd Nov 2021 4:59 pm 

    Who is really running Telsa? Why do we have real Tesla car on the road, if Elon Musk is just an electromagnetic construction made and put together with small unit of electromagnetic energy.

    Is what you see on your computer screen real, or it is an electromagnetic signal pick-up by your spine, decode by your brain and send to your eyes. Maybe it is the same thing for sound.

  4. Theedrich on Tue, 23rd Nov 2021 6:08 pm 

    Bidey is Lowering the SPR to lipstick his pig. He is trying to raise his poll numbers by using emergency resources to cover his destruction of the economy.

    It won’t work.  He has already dealt the American petroleum industry a severe body blow by shutting down one oil pipeline from Canada, and is contemplating doing the same to another one.  “Greenification” is such a pretty word;  all of the wokesters, Antifa, the regime-paid academics, White genosuicidists, the Communist billionaires of Schwab’s Weltwirtschaftsforum in Switzerland and their bribe-ocrats love it.  The hellishly complex fossil-fuel industry, already under depletional strain, has been seriously weakened by his feeble-minded incompetence.  In typical political Obamaic fashion, he is looking for a scapegoat to accuse of “illegal conduct” in the gas inflation he himself has caused.

    The imbecile will not stop until he has destroyed the entire country by importing fentanyl, millions of unassimilable aliens, enormous social burdens, and by twisting children’s minds with anti-White “Critical Race Theory,” by installing nihilists and covert Communists in high government posts, and by perpetrating many other insidious crimes.

    Now he is pretending that he can make a bedsheet longer by cutting a strip off from its bottom and sewing it onto the top.

  5. YouCannotEscapeYourDeath on Tue, 23rd Nov 2021 6:10 pm 

    Another thing fucking piece of shit animals. If I read Father properly, you can come to earth reality from your reality, the electromagnetic door is opened is that direction, but you cannot leave earth reality.

    The goal is to exterminate as much of possible of you here, cleanup the whole electromagnetic cloud by removing you and physical body.

    Earth has become a death trap for you animals. You die here, you go extinct here, as I and Father want it. You cannot escape your fate, same me I cannot escape my fate to be your executioner and earth pale rider.

  6. YouCannotEscapeYourDeath on Tue, 23rd Nov 2021 6:33 pm 

    Look like Jeff Bezos having a beginning of skin cancer around the mouth and on the chin. You do not control YouTube anymore, Father and I control YouTube. You are fucking powerless pussies that will be executed on earth by me, you executioner appointed by higher GOD’s to back back justice to earth.

    2:41 for skin cancer

    https://www.youtube.com/watch?v=WRUqXZx5EUM

  7. YouCannotEscapeYourDeath on Tue, 23rd Nov 2021 6:36 pm 

    If I read Father properly life happen for me and I am the alpha leader of earth. You are fucking powerless pussies about to be executed. You cannot go back home and escape your fate. You fucking die on earth.

    https://www.youtube.com/results?search_query=Jim+Carrey%27s+Eye+Opening+Speech+-+Best+MOTIVATION+EVER+2021

  8. EarthIsWhereYouWillGetExecuted on Tue, 23rd Nov 2021 6:39 pm 

    Is he having some kind of facial skin cancer. I think so. How could it be. Because you don’t control earth reality anymore , you even don’t control YouTube anymore.

    https://www.youtube.com/watch?v=zsPgNuuS8pA

  9. EarthIsWhereYouWillGetExecuted on Tue, 23rd Nov 2021 11:16 pm 

    Is he going to die of facial skin cancer ?
    You decide. Look like you don’t control much anymore. Look like the Cabal, deep state is powerless now. They even don’t control YouTube anymore. Execution time for you, from me you executioner appointed by higher GOD’s.

    https://www.youtube.com/watch?v=AnQVwV7cPXw

  10. Cloggie on Wed, 24th Nov 2021 1:57 am 

    The rebirth of the sailing ship in global transport as a major part of the decarbonization effort:

    https://deepresource.wordpress.com/2021/11/23/why-wind-power-ships-may-be-the-future-of-transportation/

  11. Cloggie on Wed, 24th Nov 2021 2:22 am 

    McKinsey upbeat about the future of seasonal storage:

    https://deepresource.wordpress.com/2021/11/24/mckinsey-upbeat-about-long-duration-energy-storage/

  12. Cloggie on Wed, 24th Nov 2021 2:39 am 

    Europeans taking the US offshore wind market by storm, pun intended:

    https://deepresource.wordpress.com/2021/11/24/siemens-awarded-2-6-gw-us-wind-contract/

    “Siemens Awarded 2.6 GW US Wind Contract”

  13. Biden's hairplug on Wed, 24th Nov 2021 6:36 am 

    Another blow to globalization: the Chinese are keeping ship whereabouts data secret:

    https://edition.cnn.com/2021/11/24/business/china-shipping-data-mic-intl-hnk/index.html

    Ships no longer feed these tracking apps with gps-notifications. None of your business.

    Or are these ships concentrating in the Taiwan Straight?

  14. Biden's hairplug on Wed, 24th Nov 2021 6:40 am 

    Rittenhouse has paid Trump a visit:

    https://nypost.com/2021/11/24/kyle-rittenhouse-and-donald-trump-meet-at-mar-a-lago-after-acquittal/

    https://edition.cnn.com/2021/11/23/politics/trump-kyle-rittenhouse-mar-a-lago-visit/index.html

    Rittenhouse could even have better political career prospects than his hero, age thingy, now that he has the initiation process behind him and enjoys worldwide fame. The meeting took place on request of Rittenhouse, probably to make himself less vulnerable, but putting himself in the vicinity of the Great Protector.

  15. Biden's hairplug on Wed, 24th Nov 2021 7:32 am 

    A $100 million RAF F-35 crashed into the Mediterranean drink, just because somebody forgot to remove a Walmart-style cheap 1$ plastic rain cover from the machine, that subsequently got sucked into the jet engines… timber!

    https://www.rt.com/uk/541157-jet-crash-rain-cover/

    The Russian navy is in the area to provide help in finding the clunker (and take it to Moscow for examination).

    Thanks to the stealth feature, search troops have great trouble identifying the machine.

    It is time btw for the French to take revenge for all these British made inspector Clouseau movies (Pink Panther).

    https://www.youtube.com/watch?v=Ey1kFYVXH7w

  16. all on Wed, 24th Nov 2021 8:35 am 

    Waddeieke

  17. KillAllTheJews on Wed, 24th Nov 2021 8:37 am 

    Exterminate all the jews.

  18. KillAllTheJews on Wed, 24th Nov 2021 8:51 am 

    I really hate earth, It is really a shit hole design for animals. This earth really sucks. This is why I am offering death to animals by executing them with facial skin cancer. I am offering them a mercy kill.

    I am kidding, earth is still a shit hole, I am killing them because I can.

  19. KillAllTheAnimalAndJews on Wed, 24th Nov 2021 8:56 am 

    Earth is such a shit hole, that human have stop reproducing. Only animals reproduce now because they are too stupid and selfish to see that earth is a shit hole. These animal are so soulless that they don’t mind forcing a new kid to live on earth.

    Real human with a soul live in the energy field as a singularity.

  20. FuckingLosers on Wed, 24th Nov 2021 9:07 am 

    Earth reality is such a shit hole badly design. They did not have enough energy to keep the temperature of the whole earth at 20 degree Celsius for the whole earth. The earth is too big for the energy available to keep it livable. So instead of making earth smaller, these fucking losers designers invented 4 seasons to compensate for the fact that the did not have enough energy for one season with an average temperature of 20 degrees C. This earth is such a shit hole design by amateurs.

    So they said, lest create winter as a way to save energy since we fuck up earth energy calculation and we made it too big. Fucking losers. You are too incompetent to be a GOD.

  21. EndOfItForMeHere on Wed, 24th Nov 2021 11:22 am 

    MY comment are getting censure. Will stop comenting here.

  22. FamousDrScanlon on Wed, 24th Nov 2021 3:48 pm 

    The rebirth of the sailing ship in global transport BECAUSE it works economically or you don’t have a reliable source of fossil fuels.

    Clog how many fossil fueled cargo ships are there & how much cargo do they transport in a year? Hang on to those numbers.

    Clog how many wind powered sailing cargo ships are there & how much cargo do they transport in a year?

    Now compare the numbers & tell us about their great rebirth.

    Call me when sail cargo hits 1%

    I bet Kyle & Trump are now lovers.

    Anytime you see a sensitive baby face boy like Kyle go meet a rich old man like Trump you know it’s a rental agreement.

    Trump ate 4 Viagra’s & rented sweet boy Kyle’s mouth & boy-pussy for an hour.

    Y’all right wing-nuts are the ones saying billionaires are bored with their supermodels & looking for new & twisted thrills, so they fuck kids for kicks.

    I bet Trump paid Kyle extra to do his now famous baby crying with tears & the squinty face.

    Bored billionaires & Pizza Gate

  23. Duncan Idaho on Wed, 24th Nov 2021 5:30 pm 

    “When I was crossing the border into Canada, they asked if I had any firearms with me.
    I said, “Well, what do you need?”

    ― Steven Wright

  24. FamousDrScanlon on Wed, 24th Nov 2021 9:31 pm 

    You could just as easily called the site: Stupid Fucking White Folks

    SORRYANTIVAXXER.COM

    The purpose of this site is educational, except for a few exceptions, everyone listed on this site was/is an anti-vaxxer activist who helped spread COVID-19 misinformation on social media. Share to stop others from making the same mistake. GET VACCINATED!

    https://www.sorryantivaxxer.com/

    No no no don’t get vaccinated. You people are my entertainment.

  25. Cloggie on Thu, 25th Nov 2021 12:22 am 

    Sailing today in transport with the Dutch ship “Avontuur”:

    https://designedconscious.com/plastics-in-the-ocean/sustainability-news-stories/sailing-ships-hauling-cargo-in-2021/

  26. Biden's hairplug on Thu, 25th Nov 2021 1:37 am 

    Nations are a threat to white nationalism. Let them therefor disappear into the fog of history!

    https://www.thenational.scot/news/19738694.belgian-ports-told-prepare-scottish-independence-jan-jambon/

    “Belgian ports told ‘prepare for Scottish independence’ by Jan Jambon”

    The National is a Scottish nationalist newspaper that aims for Scottish independence from London. They love it when a prominent Belgian politician tells his country to prepare for Scottish independence, in particular for the creation of new overseas trade routes Antwerp-Scotland, rather than overland trade via England, that hasn’t enough truck drivers anyway, since they were all chased away by the Brexiteers, back to Eastern Europe.

    What the National “forgets” to mention is that Jan Jambon isn’t a Belgian (not by heart anyway) but a Flemish nationalist, who wants to secede from Brussels and start a Dutch- speaking Flemish nation of his own (with not few aiming for a union with the Netherlands after).

    https://en.wikipedia.org/wiki/Jan_Jambon

    “Jan Jambon has been criticized for having given a speech in 2001, as representative of the Flemish NGO Vlaamse Volksbeweging, during the 50th birthday of Sint-Maartensfonds, an association of former Flemish nazi collaborators who joined Nazi Germany ‘s troops during World War II. In October 2014, replying to these remarks, Jambon declared the following as part of an interview.

    The collaboration was a mistake. The Flemish movement was isolated for several years. But it’s easier said than done. The people who collaborated with the Germans had their reasons. Me, I was not alive during that time.”

    The point to make is that Scottish independence could very well trigger a similar move in various other European countries, like in Belgium, Spain, Italy, France and others, for the simple reason that they already have a European roof over their heads anyway.

    https://parisberlinmoscow.wordpress.com/2021/05/03/the-united-statelets-of-europe/

    “The United Statelets of Europe”

  27. Cloggie on Thu, 25th Nov 2021 4:24 am 

    The new German government is ready to begin, after a remarkable fast process of building a new government. Predictably, they have significantly increased their renewable energy targets:

    https://deepresource.wordpress.com/2021/11/25/new-german-government-renewable-energy-targets/

  28. Biden's hairplug on Thu, 25th Nov 2021 5:30 am 

    The GDP-PPP 2021 estimates are in, courtesy IMF:

    https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)

    1. China 26.7
    2. USA 22.7

    9. France 3.23
    10. UK 3.17

    13. Italy 2.6

    16. Spain 2.0

    Difference China-US 4.0T, up from 3.3T last year. The difference will only increase until the moment that China is obliged to its own self-respect to no longer accept Anglo rule over the South China Sea and attack. With China already enjoying the advantage of short supply lines.

  29. Hello on Thu, 25th Nov 2021 6:38 am 

    >>> and attack

    There’s no need to attack. Just sit and wait as the US influence slowly fades away.

  30. Duncan Idaho on Thu, 25th Nov 2021 9:37 am 

    Cut-Rate Nazi Clowns Found Liable For $26 Million

    “After a landmark civil trial, a jury has awarded over $26 million in damages against two dozen white supremacist groups for race-related violence against nine plaintiffs at Charlotteville’s infamous 2017 Unite the Right rally. Advocates say the chaotic trial, rife with rabid references to Hitler and Jesus, serves as a hopeful template for rendering accountable the hate crimes of sorry-ass-loser Nazis and other “sad little violent white men begging for relevance,” even if broke or in prison: “This isn’t about squeezing blood from a stone. It’s about widespread agreement that the stone sucks.”

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