Joe Biden claimed he was tapping into the Strategic Oil Reserve in an attempt to lower record-high prices at the pump for Americans, however, more than 5 million barrels of that oil was sent to Europe and Asia last month according to data.
U.S. Customs data revealed that Phillips 66, the fourth-largest U.S. oil refiner sent out nearly half a million barrels of sour crude from their storage site in Texas to Italy and Atlantic Trading & Marketing exported more than a million barrels of oil from the strategic reserves to Europe.
In addition, a recently released report by Reuters indicated that cargoes of SPR crude were also going to the Netherlands, India and China – These shipments followed three vessels that took off for Europe in April.
Biden’s war on American industry has left crude oil industries decimated with inventories now at the lowest levels since 2004, even though refineries are running at near-peak levels – and at their highest in nearly 4 years.
Biden’s policies and statements have even turned some of the most liberal people against him. Elon Musk, CEO of Tesla, has said he will now vote Republican and the Founder of Amazon, Jeff Bezos publicly attacked Biden for pointing the finger at gas suppliers saying Biden doesn’t have a clue,
“Ouch. Inflation is far too important a problem for the White House to keep making statements like this. It’s either straight ahead misdirection or a deep misunderstanding of basic market dynamics,” Bezo’s post was in response to Biden’s claim that suppliers were to blame for record-high gas prices,
“Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now.”
My message to the companies running gas stations and setting prices at the pump is simple: this is a time of war and global peril.
Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now.
— President Biden (@POTUS) July 2, 2022
Biden has blamed Russia, Oil companies, Republicans and gas suppliers.
Biden has also cancelled the Keystone XL pipeline, stopped oil leases on federal land, cancelled off shore drilling in the gulf and Alaska and is making moves to inhibit future oil leases.
