Strategic Petroleum Reserve oil diverted to other countries
Strategic Petroleum Reserve (SPR) oil has been diverted over to countries in Asia and in Europe. Over 5 million barrels were slotted for this transfer. This is oil meant for use in the United States for emergency purposes. However, the White House is being criticized for using the SPR as an attempt to “cover up” for bad policy. One of the companies that allegedly benefited from the SPR was a Chinese company associated with Hunter Biden.
From FOXBusiness:
McMorris Rodgers and Rep. Fred Upton, R-Mich., the top Republican on the panel’s energy subcommittee, penned a letter to Energy Secretary Jennifer Granholm in early June, demanding information about how the administration’s SPR policy was emboldening China. The two GOP leaders noted similar reports that China had purchased oil from U.S. emergency reserves to bolster its own stockpile.
McMorris Rodgers told Fox News that the committee has still not received a response from Granholm on the administration’s “mismanagement” of U.S. oil stockpiles. “What do they have to hide?” she added.
“The Strategic Petroleum Reserve is meant for national emergencies — not policy blunders,” Upton tweeted Thursday. “The administration still has not answered congressional questions on its mismanagement of the SPR.”
Meanwhile, the SPR’s level has fallen to about 492 million barrels of oil, the lowest level since December 1985, according to the Energy Information Administration. The current level is also 20% lower than its level recorded days prior to Biden’s first release in late November.
The SPR was established by the 1975 Energy Policy and Conservation Act to help the U.S. mitigate the impacts of future “severe energy supply interruptions.”
“After multiple failed attempts to lower U.S. gas prices by robbing our emergency strategic petroleum reserve, will someone please inform the decision makers at 1600 Pennsylvania Avenue that we have much larger and more strategic undeveloped energy resources that can be extracted, processed, and utilized cleaner and safer right here at home benefiting American workers and businesses?” House Natural Resources Committee Ranking Member Bruce Westerman, R-Ark., told Fox News Digital.
FOXBusiness has the article here. Energy expert suggests that selling oil to China is worthy of investigation.
Category: Biden, Democrats, Dumbass Bullshit, Economy
A large part of the problem is that not only are US refineries running at full capacity, but I believe they also tend to shun the high-sulfur crude that is being exported.
I certainly don’t know that high gas prices qualify as a ‘national emergency’, but if you want to get more gas into the market, and our own refineries won’t process it, getting it out to those that will is reasonable. And, if you can sell it high and buy it low, that’s not too bad — but it remains an ‘if‘.
For a bit more:
https://markets.businessinsider.com/news/commodities/oil-us-strategic-petroleum-reserve-asia-europe-exports-russia-crude-2022-7
Not to mention many of the older less efficient refineries were shut down during Covid and not restarted since, constraining capacity.
Not sure how much more evidence is going to be needed to show that prezzy sniffy is a grifting slimey POS career politician that is hell bent for leather to completely destroy the USA. He has sold out to the ChiComs and is assisting them in their goal of world domination. Maybe when the useful idiots that helped install him are working 12 hour days at Bill Gates’ Collective Farm they will realize how they helped to destroy America.
It’s called a Strategic Petroleum Reserve for a reason. But I guess since the despotic tyrants are also destroying the Amrican Military they’d rather have more $ in their off shore bank accounts than fuel to power our war machine, industry, and Joe Six Pack’s car.
I just wonder how big of a kickback the Biden family got?
The Big Guy needs his 10% cut to pay for Russian hookers and crack for his degenerate son.