U.S. Oil Reserves Released

(RoyalPatriot.com )- Tuesday during his State of the Union speech, President Biden announced that he has authorized the release of an additional 30 million barrels of oil from the Strategic Petroleum Reserve.

The US is joining 30 other countries to release a total of 60 million barrels of oil to counter the global rise in gas prices.

But according to the Energy Information Administration, on average the US consumes about 18 million barrels of oil per day. So 30 million barrels of oil isn’t even enough to supply two full days.

What the president refuses to do, however, is reverse his executive orders that have choked off US energy production.

During a rare appearance on Fox News on Tuesday, press secretary Jen Psaki dismissed the idea that boosting US energy production would solve our dependence on imports.

That’s a flat-out lie.

During the Trump administration, those very policies made the United States the largest net exporter of energy in the world – surpassing both Russia and Saudi Arabia. The US energy boom under Trump drove down prices at the pump and boosted our overall economy.

Despite the vast wealth of energy beneath our feet, the Biden administration remains committed to destroying US energy production in the name of Climate Change.

Biden’s release of 30 million barrels is nothing but a quick fix that offers no long-term solution to US energy prices.

The president’s symbolic move comes as US gas prices have hit their highest levels since the summer of 2014. The average price per gallon rose to $3.61 — $0.90 higher than a year ago.

Skyrocketing gas prices have been one of the biggest factors in the current 40-year-high inflation. And yet this president refuses to solve the problem in any meaningful way.

But with Russia’s invasion of Ukraine threatening the global oil supply, Biden needs to be seen as doing something to provide relief – even if that “something” amounts to nothing.

In November 2021, faced with the same problem, President Biden released 50 million barrels from the reserves. While prices at the pump dipped slightly, the change didn’t last long and gas prices once again continued their upward trajectory.