* President Biden is authorizing the release of 50 million barrels of oil from the Strategic Petroleum Reserve in a bid to lower soaring prices at the pumps
* The emergency measure was last used after Hurricane Katrina
* Experts warn the move won't fix surging gas prices in the long term
* India, South Korea and Japan, and China are also involved in the plan
* OPEC+ nations in the Middle East have rebuffed his pleas to pump more oil
* The average price of gasoline recently breached a seven-year high, and now costs $3.409 per gallon, according to AAA
* OPEC+ officials warned in turn they would respond if the world's largest oil consumers tapped their reserves
President Biden is authorizing the release of 50 million barrels of oil from the Strategic Petroleum Reserve in a bid to lower soaring prices Americans are paying at the pumps,
The White House announced on Tuesday. Biden will coordinate with other nations in the coming days to pump oil out of the Strategic Petroleum Reserves, after OPEC+ nations in the Middle East rebuffed his pleas to pump more oil.
Read more ....
WNU Editor: Cut the pipelines and limit production while discouraging new projects over threats of more taxes and regulation, and use of the reserves that would/could be used during a war or extreme emergency.
Makes perfect sense to this White House. And the sad part is that this release of oil will only impact prices for a few days (if we are lucky).
Bottom line.
The push to $100/barrel in 2022 is going to happen unless current policies are changed.
More News On The U.S. Releasing Oil From Its Strategic Reserves In Bid To Lower Gas Prices
Biden Announces 50 Million Barrels SPR Release To Lower Oil Prices -- OilPrice.com
US to release 50 million barrels of oil to ease energy costs -- AP
U.S. to release oil from reserves after OPEC+ rebuffs call for more crude -- Reuters
U.S. to release oil from reserves in coordination with other countries to lower gas prices -- CNBC
Biden administration to tap oil reserves in bid to tamp down rising gas prices -- NBC News
Biden to release 50M barrels of oil from Strategic Petroleum Reserve amid gas price spike -- FOX News
Biden administration to release 50 million barrels of oil from strategic reserve -- The Hill
U.S. to release 50 million barrels of oil from strategic reserve -- Axios
Biden orders US strategic oil reserves released -- RT
US Announces Coordinated, Global Oil Release Of Up To 50 Million Barrels, As Expected -- Zero Hedge
10 comments:
Democrats @ work
"this release of oil will only impact prices for a few days (if we are lucky). "
So they release it now and by Christmas or New Years, we still get sky high prices for the travel seasons and home heating.
People will get together around the holidays and talk around the kitchen table or text or call. So the ape trainers, who train Joe, will still be in trouble.
The White House is reacting. It is said markets look 6 months out or something like that. Which means they "ain't" going to be fooled.
So is this meant to fool the 20% to 35% of the people who are the Democrat base or fool themselves, because it ain't going to fool anyone else.
Why look! It's a biden bandaide! Now just watch the prices fall, you doubters of joe.
Man, but that is a truthful and sarcastic comment (10:45) in the best tradition of the word sarcastic.
I don't just doubt Joe... I doubt his whole inept administration. Good God what a disaster
Olympus is Falling. Good luck yanks. Keep ducking 🙉
Let's go Brandon!!!!!!!!!!!!!!!!!
All PhD diploma and no brains.
Once an electrical engineering professor came to visit He fled for his life 15 minutes later bereft of 5 precious IQ points. IF he had stayed for a 3 hour visit, he would have been totally drained.
ah, another ego in tatters and shouting out for mommy's approval: look at me mom! I am good at trying to put down others, just like you
Turn about is fair play
Orange man bad crowed triggered over "Let's go Brandon ...
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