Joe Biden’s administration has been caught sending large amounts of the US oil reserves to China and other foreign countries.
The Strategic Petroleum Reserve (SPR) is owned by the U.S. government, specifically the U.S. Department of Energy and holds roughly 700 million barrels of oil. The goal of this reserve is to help the country survive a major energy emergency or disruption.
A new report from Yahoo News revealed that Biden is instead sending millions of barrels of oil to countries around the world. According to the report, 5 million barrels are currently being shipped to Europe and Asia.
Even more interesting, however, is the report of exactly where they are being sent to. Sources told the reporter that multiple cargo ships carrying US reserve oil have been spotted. The report says, “cargoes of SPR crude were also headed to the Netherlands and to a Reliance refinery in India, an industry source said. A third cargo (is) headed to China.”
Biden began releasing oil from the SPR last month in a last ditch effort to lower record high oil prices and reduce the historic inflation that is currently weighing down the US economy.
The Yahoo article revealed that Phillips 66, the 4th largest oil producer in the US, shipped about 470,000 barrels of sour crude from the Big Hill SPR storage site in Texas to Trieste, Italy.
It also showed that the Atlantic Trading & Marketing (ATMI), an arm of French oil major TotalEnergies, exported 2 cargoes of 560,000 barrels each.
A massive spike in the cost of oil under Biden’s watch can be attributed to a whole slew of decisions by the administration along with other global restraints. One of the first moves Biden made when he took office was to reduce domestic oil drilling and shut down one of America’s biggest oil pipelines, making us more reliant of foreign oil.
After that, Vladimir Putin began his war in Ukraine. He used Russia’s oil dominance over Europe to stop his country from being completely sanctioned during his campaign. Biden has tried to shift almost all of the blame in this direction.
General transportation options for oil and other general goods have also been limited since the end of coronavirus as the country suffers from a shortage of transportation workers.
It’s clear that Joe Biden has no clue how to get us out of our current economic and energy predicament. His decision to send our limited oil reserves overseas proves how out of touch he is. Do you think it’s possible for the US to recover as long as Biden is in the White House?