Joe Biden announced at the end of March that he was going to engage in he biggest withdrawal in the reserve’s more than 46-year history, by releasing 180 million barrels of oil from the US Strategic Petroleum Reserve. One million barrels per day for 180 days,
In a speech to the nation Biden said the move was to ease the pain at the pump for Americans who are paying more than $6.00 a gallon in some cities across the country,
“Look, I know gas prices are painful. … I’ll use every tool at my disposal to protect you from [rising prices].”
However, the 180 million barrels of oil from the US Strategic Petroleum Reserve is not going to be used to help struggling Americans rather he’s sending it to Europe.
According to Bloomberg a cargo of crude from the U.S. Strategic Petroleum Reserve departed a Texas port this week, heading for Europe.
Matt Smith, who is an oil analyst at commodity data firm Kpler, this is the first time SPR crude has been exported since last November, leading one to believe the oil came from Biden’s oil release.
Gas prices and inflation have been on the rise since about two months after Biden took office. Many point to his bad economic policies, open border policies and war on American Energy as the root causes.
