An additional 15 million barrels from the Strategic Petroleum Reserve are being released by the Biden administration.
After arriving repeatedly late for his speech, Joe Biden made the announcement and predicted that they will continue to deplete our Reserve until December.
Biden announces further release from the Strategic Petroleum Reserve. pic.twitter.com/T43P0Esxlk— Townhall.com (@townhallcom) October 19, 2022
By depleting the emergency supply until after the election, it appears they will continue to attempt to artificially depress prices, preventing a price spike until after everyone has cast their ballots.
“We need to responsibly increase American oil production without delaying or deferring our transition to clean energy,” Biden said.
He continued by asserting that his government had not halted or reduced US oil production and that he wished to debunk any falsehoods.
BIDEN: "We need to responsibly increase American oil production without delaying or deferring our transition to clean energy…my administration has not stopped or slowed US oil production." pic.twitter.com/E9k8KteXjf— Townhall.com (@townhallcom) October 19, 2022
Since his first day in office, he has attacked the energy sector with several policies and regulations, including the Keystone Pipeline cancellation, the suspension of oil and gas leases on federal lands and seas, and the cancellation of oil and gas permits.
In order to make up for his terrible policies and prevent the Democrats from losing the midterm elections, Biden is now using up the reserve. It’s an outright vote-buying plan that is not only repugnant but also endangering our security. The Reserve has dropped to its lowest point in forty years, marking the worst decrease ever.
Look at what Biden has done to our Strategic Petroleum Reserve … and gas prices are still close to a $1.50 more per gallon than when he took office. pic.twitter.com/rx6XPK0rPy— RNC Research (@RNCResearch) October 19, 2022
He tried defending his collapsing policy by claiming, “The choices made by other countries are affecting the price of gas here at home.”