I can't believe he did this... Oil from U.S. reserves sent overseas as gasoline prices stay high https://www.reuters.com/business/en...verseas-gasoline-prices-stay-high-2022-07-05/
I couldn't find in the article where there was an increase in the amount of oil sent overseas but the U.S. has always exported oil. The refineries here lack the capacity to refine a lot of the oil pumped here since they are designed to refine heavy crude, not light sweet crude. I may have that backwards but the point remains that until the refineries are upgraded we will always need to export and import oil.
By the end of Biden’s six-month release, the White House will have tapped 260 million barrels from the emergency reserves within two years of his inauguration, leaving the stockpile at its lowest level since 1986. In May, the Department of Energy announced plans to replenish only 60 million barrels of what’s been released despite an authorized storage capacity of 714 million barrels. https://thefederalist.com/2022/07/0...eas-as-americans-cope-with-record-gas-prices/
Sure there's a good reason... but I haven't heard one. I'm blaming small gas station operators until Biden comes up with something else to blame. Betting the next target in the blame-game will be the consumer.... Mayor Pete has hinted as much.
It sure looks like the Biden administration sold nearly 1 million barrels of oil from the Strategic Petroleum Reserve to a Chinese oil company... one that his son Hunter has financial ties to. You'd think Trump was still President...
How does it look like that? If true, there surely must be some support for such a claim. What are the terms and requirements of such sales from the reserves? In a global market does an influx of product raise or lower the overall market price?
https://www.energy.gov/articles/doe...ues-fourth-emergency-sale-crude-oil-strategic Joe Biden Sold Nearly One Million Barrels from U.S. Strategic Petroleum Reserve to CCP-Owned Oil Company Linked to Hunter Biden Firm https://www.breitbart.com/politics/...wned-oil-company-linked-to-hunter-biden-firm/ Joe would have captained the ship if Jill let him...
Breitbart (we know what that is) says that the Washington Free Beacon (whatever the hell that is) says that a Chinese government owned gas company has (unexplained) financial ties to a private equity company that Hunter Biden cofounded. At the same time Breitbart reports that "Sinopec is wholly owned and operated by the Chinese Communist Party" it claims that it is unclear if Hunter Biden still has a stake in another company (BHR) which at one time owned a piece of Sinopec. How is that relevant if Sinopec is owned by the Chinese government as they claim? Are we to believe Breitbart? Are we to believe the Washington Free Beacon? Are we to believe anything done regarding the US Petroleum Reserves has been done contrary to the regulations regarding its operation? Are we to believe that blowing smoke up someone's ass indicates they are on fire?
so much wrong with that article its like an entertainment piece. I'm sure its filled with falsehoods, but just from the surface 900,000 barrels is barely enough to keep the US going for 1 single hour anyway
We're stuck at the moment on Russia policy. As an example: we're doing everything we can to stop cash inflows to the Kremlin with sanctions but we're winking at the grain smuggling that Russia is doing with stolen Ukrainian grain. Why? Because any policy of ours that leads to famine or mass starvation is unjustified in the current state of affairs. So we wink at all those shipments going out daily.
