Republicans lashed out at President Joe Biden after he announced in a report that the US oil he had ordered to be released from the Strategic Petroleum Reserve (SPR) was being shipped to China, and ignored the impact his release had on the drop in gas prices in the US. .
More than five million barrels of oil, part of a historic exit from the reserve, were exported to China and several other foreign countries last month, “softening the impact” on gas prices to the United States, according to a recent Reuters report. it has since reached record levels.
According to Reuters, the oil spill not only failed to hit US gas prices, it also depleted America’s emergency reserves, which fell to its lowest level since 1986 last month. According to the report, around one million barrels per day will be produced by October.
“If the reports are true, Biden is ANGRY that he is sending millions of barrels of oil from the Strategic Petroleum Reserve to countries like China,” he said. Verne Buchanan (R-FL).
“Americans should know why they pay $5 a gallon of gas when our emergency reserves go overseas,” he added.
If the reports are true, Biden is ANGRY that he is sending millions of barrels of oil from the Strategic Petroleum Reserve to countries like China.
Americans need to know why they pay $5 per gallon of fuel as our emergency reserves go overseas.
– Representative. Vern Buchanan (@VernBuchanan) 6 July 2022
Representative Tweeted. When Tom Tiffany (R-WI) thought that Joe Biden’s energy policy could no longer get any worse, his administration reportedly sent America’s strategic oil reserves to communist China, and hardworking Americans continued to pay $5 per gallon of oil. gas. Come on man! “
When I thought that Joe Biden’s energy policy was no worse, it was reported that his administration provided American strategic oil supplies to communist China and hardworking Americans continued to pay $5 per gallon of gas.
ok man! https://t.co/AzrGE6rfvp
– Representative. Tom Tiffany (@RepTiffany) 6 July 2022
The American Energy Alliance also attacked Biden.
“Out of parody. @JoeBiden #SPR is consuming and China is buying too much oil causing gas prices to go up!” the organization tweeted.
Except for parody. @JoeBiden sewage #SPR and China buys any excess oil, causing an increase in value #fuel price! https://t.co/bVf8sS9Y2k
– American Energy Alliance (@AEA) 6 July 2022
The group also cited an article published in June that highlighted how US oil reserves have helped boost America’s main adversary, China, in energy security:
China also refused to play Biden’s game. Biden thought he was in a global effort to release more than 1 million barrels a day of strategic oil reserves to lower gasoline and diesel prices, as he hoped these reserves would be refined and sold to consumers. However, for every barrel of reserve sold by the president, China adds one barrel to its reserves by removing one barrel from the global market. China’s hoarding did not give US consumers any benefit from the issuance of the SPR, but instead reduced US energy security and increased China’s energy security.
In addition to China, SPR oil also went to Italy, shipping oil to refineries in Central Europe as well as the Netherlands and India.
“Without[emissions]crude oil and gasoline prices will likely be higher, but it also doesn’t really have the intended effect,” Matt Smith, Kpler’s lead oil analyst, told Reuters.
Meanwhile, President Joe Biden tried to put the blame on oil companies and gas station owners for not lowering gas prices, receiving an unusual rebuke from Amazon CEO Jeff Bezos.
“Oh no. Inflation is a huge problem for the White House to continue making such statements. This is either a misdirection or a deep misunderstanding of the underlying market dynamics,” he tweeted.
Ah. Inflation is a huge problem for the White House to continue making such statements. This is either a complete illusion or a deep misunderstanding of the underlying market dynamics. https://t.co/XgKfEICZpk
– Jeff Bezos (@JeffBezos) July 3, 2022
Source: Breitbart
