The Strategic Petroleum Reserve (SPR) is supposed to be a backup for a national emergency. But even as oil prices soar, Biden seems to be selling the SPR off to Asia.
The U.S. started the SPR in 1975 thanks to the 1973 oil embargo imposed by the Middle Eastern OPEC nations on the U.S. during the disastrous Carter years. The idea was that if there was ever a disruption of oil supplies, the SPR could help temporarily bridge the gap until the supply choke is resolved.
But, as America finds the price of oil and gas soaring because Biden is systematically destroying our energy industry, now would be a good time to tap the PR.
As it turns out, Biden really is tapping the SPR, but not for America. According to Bloomberg, Biden is selling off the SPR to Asia.
About 1.6 million barrels of crude from the U.S. Strategic Petroleum Reserve — a monthly record — was shipped out in October, according to data from market intelligence firm Kpler. Three cargoes were loaded onto a supertanker in the U.S. Gulf Coast and are headed to Asia.
“Given the ongoing pace of the current SPR release — 12 million barrels in the last two months and the biggest weekly release so far last week at 3.1 million barrels — it’s fair to assume more SPR barrels are going to leave U.S. shores in the weeks ahead,” said Matt Smith, an oil analyst at Kpler.
Meanwhile, Biden is shutting down U.S. pipelines all around the country, he is ending exploration in the U.S., and he wants to continue eliminating more sources of American energy.
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