Biden Gives Away America’s Last Hope Of Economic Recovery To… Guess Who?

Allegedly aiming to lower the price of fuel for Americans who are suffering from inflation associated with Biden’s economic policies, Biden said last week that he would use the country’s Strategic Petroleum Reserve. However, it turns out that some of the oil that taxpayers buy from strategic stockpile in the US will not make it to American refineries and ultimately even gas stations in the United States.

Most of the 50 million barrels released will probably go to China and India, as Bloomberg reported. According to traders, this is because the released supply is “sour crude oil, a type of oil that U.S. refiners avoid due to its high sulfur content, and it is expensive to process.” On the other hand, foreign buyers don’t mind paying less for lower-quality oil.

Biden is using the country’s strategic stockpile to drive his decision as a step towards relieving some of the difficulties Americans are dealing with at the gas stations, but instead of releasing all the oil bought by taxpayers into the U.S. supply, he is sending “most” of the supply to other nations, including China. Strategic stockpiles were made to use in extreme situations and were not intended to be sent to other countries.

As some leftists have pointed out, Biden, who has devoted part of his presidency to “going green,” has supplied oil to two of the world’s worst polluters, which does nothing to make other countries more green. It also makes Biden’s war on fossil fuels more hypocritical here at home.

On his first day in office Biden stopped the Keystone Pipeline, but allowed Russia to proceed with its own pipeline project. He has limited fossil fuel projects here in the United States, while shipping US oil abroad. It doesn’t make sense, nor does the rest of Biden’s energy policy.

According to AAA, the average price per gallon on Tuesday is $3.39. However, residents in some of the western states have even greater prices, they are paying between $3.58 and $4.70 per gallon. Biden was able to take his victory lap among a lot of Democrats and the media as taking action to fix American suffering, regardless of where the oil ends up or if it makes a difference in what Americans pay for fuel.

Biden was previously unable to persuade OPEC to bring more oil to the market to increase supply in order to lower gas prices. Now he is making another failure with his decision to tap into the USA’s strategic reserves. He is ignoring actions that would help when it comes to lowering inflation and the cost of fuel.

Author: Scott Dowdy