Wednesday, October 19, 2022

Biden to release 15 million more barrels of oil from US reserve

 Jackie Juntti submits:

This goes right along with all the *undermining* of our Military by this ENEMY WITHIN - The so called Buydumb administration.

 

Think of all the many things that the ENEMY WITHIN has done to undermine and destroy the American Military since this bunch took control of our government.

 

The US RESERVE is to be for our MILITARY in case of an emergency.  The great reduction in the issues being used to TRAIN our incoming soldiers  --  use of Pronouns, etc.

 

The fraudulent pull out from Afghanistan , making sure all that military equipment was left for the real enemy to use against us.

 

The phoney draw down of the oil reserves so that the PRICE of gasoline will go down a few cents to make it look nice for this election.

 

The phoney leaders in the Pentagon who are working directly with the ENEMY WITHIN (ie: Gen Milley).

And the most recent BUYDUMB directive for our Military to be sent to the Southern Border to pick up the TRASH the ILLEGALS leave all over the place (what is wrong with making the ILLEGALS clean up their garbage?) And what is this part about serving as Gophers for getting things for the ILLEGALS?

 

I am sure I am not the only person seeing this as I do......  AIDING AND ABETTING THE ENEMY...

this is a crime! ! ! !  https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title10-section903b&num=0&edition=prelim

This should be enacted and ENFORCED - removing Buydumb, HAIRA$$ and PELOUSY from their positions and a new election held to place AMERICAN LOVING CITIZENS in the offices.   Cancel all the EO's that these ENEMIES WITHIN have enacted - especially to reopen our oil and gas resources and return our Military to it's purpose - to serve and protect AMERICA!!!! 

 

Anything less tells the world we are a CONQUERED NATION not to be feared at all.  We have no borders - that our military will be their personal servants.

 

Jackie Juntti

idzrus@earthlink.net

MARANATHA ! ! ! 

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http://thejacksonpress.org/?p=139785

National News 

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 October 19, 2022, 7:35 AM

Biden to release 15 million more barrels of oil from US reserve

Biden administration officials framed the release as merely “completing” Biden’s plan. REUTERS/Richard Carson/File Photo

By Steven Nelson | New York Post

President Biden is set to order the release of 15 million barrels of oil from America’s strategic reserve in a last-ditch bid to tame prices at the pump three weeks before the midterm elections.

White House press secretary Karine Jean-Pierre teased the announcement Tuesday and Biden aides confirmed the details on an evening press call, saying the president would make it official Wednesday.

One official told reporters that Biden would continue to “use the SPR as a tool to promote market stability.” Another said Biden had “use[d] this tool incredibly responsibly, in my expert judgment.”

The latest release will happen in December. Biden said earlier this month he would release 10 million barrels from the reserve in November to offset production cuts announced earlier this month by the OPEC+ cartel.

Biden administration officials framed the release as merely “completing” Biden’s plan to release 180 million barrels from the strategic reserve between April and September to temper rising prices caused by Russia’s Feb. 24 invasion of Ukraine.

It’s unclear why the plan to sell 180 million barrels over six months fell short. An official told reporters the latest announcement is linked to a formal process to offer the oil for sale to bidders and that more releases from the reserve could happen in future months.

Biden will commit Wednesday to rebuying oil for the reserve when prices are lower, aides said, and he will slam US oil companies for higher than usual profits, which one official said amounts to roughly 60 cents per gallon of current costs.

About 400 million barrels of oil will remain in the reserve after the latest release is complete.

White House economist Jared Bernstein defended Biden’s release of oil reserves in a Sunday interview on Fox News, saying, “There are still 400 million barrels of oil in the Strategic Reserve. It is more than half full. I think people don’t quite have that capacity number in their head.”

OPEC+, led by Saudi Arabian Prince Abdulaziz bin Salman, said Oct. 5 it would collectively reduce output by 2 million barrels per day — about 2% — beginning in November despite Biden’s July trip to Saudi Arabia to woo Crown Prince Mohammed bin Salman.

The White House unsuccessfully asked the Saudi government to postpone oil production cuts until after the Nov. 8 midterm elections.

OPEC+ says it is attempting to orchestrate a reversal of a demand-driven decline in global prices. But high gas costs are politically toxic for the party in power in Washington and threaten to further fuel inflation, which remains at its highest levels since 1981.

The average cost of a gallon of gas in the US has drifted back down over recent days to $3.87, according to AAA data — a drop from recorded all-time highs over $5 in June, but well above the average of $3.33 one year ago.

The White House has repeatedly attempted to take credit for the drop in gas prices since June, while blaming rises on external factors, like the war in Ukraine and alleged price-gouging by oil companies.

 

Experts have attributed the drop to a decrease in demand among motorists struggling to juggle other expenses as inflation takes its toll.

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