Biden Wants to Draw on the Strategic Oil Reserves—Again
One year ago, the closer we got to midterm elections, the lower gas prices became. It wasn’t a coincidence. Joe Biden started recklessly drawing from the United States’ strategic oil reserves. His administration said it was to “help lower energy costs” amid “Putin’s price hike.” In reality, the aim was to sway the outcome of the election.
And it worked. Gas prices dropped while the left stole another election. The Biden administration said it planned to sell oil while prices were high and refill the reserves when prices dropped.
That never happened.
According to the American Automobile Association, the average gas price as of September 11 is $3.83 per gallon, 12 cents more than this time last year.
Three months ago, crude oil cost around $70 per barrel. Then Arab nations announced they would be extending their cap on oil exports until the end of the year. Two days later, oil prices shot up to $90 per barrel. The limited supply increased the demand and the price.
What is Joe Biden’s solution? Emptying the strategic reserves even more.
Biden “has taken steps to shore up global supply,” White House spokesman John Kirby told reporters at a G-20 summit in India last week, “even if that means coming into the strategic reserve, and he won’t hesitate to look at other opportunities to do that in the future.”
Last year, Biden brought the reserves to a 40-year low. His administration has since failed to replenish the reserves, even canceling two purchases at the last minute. Now, it’s either too expensive to buy more oil, or the Arab sellers won’t sell it.
America’s oil reserves sit at 350 million barrels of oil, under half its capacity. There is no prospect of replenishing it, and we’re just over a year away from the presidential elections. Biden, less popular than ever, is behind on most polls, yet he “won’t hesitate” to draw from the reserves again.
It might lower gas prices in the short term, but it will create even more problems in the long term. The strategic reserve was intended to provide the U.S. with oil in times of dire need, but it also stabilizes global oil prices. The knowledge that the U.S. doesn’t have much oil in reserve causes market volatility.
U.S. oil companies are functioning at almost 93 percent. But Biden’s radical environmentalist policies, which are canceling leases in oil-rich states like Alaska, are discouraging expansion. Even if the government began to encourage oil drilling, it would take at least six months for domestic drilling to produce more oil and reduce gas prices.
In short, Joe Biden is in prime position to do the maximum amount of damage to the American economy before he leaves. Recent history says that’s exactly what he’ll do.
The Biden presidency, with its family scandals, corruption and a flailing economy, has been a disaster for America. Many began to notice a problem after the embarrassing Afghanistan withdrawal. “But it wasn’t the result of bungling and bad judgment,” writes Trumpet editor in chief Gerald Flurry in America Under Attack. “It was part of a deliberate, planned effort to destroy America. And it was terribly successful.”
Last month, Iran had the highest month-on-month increase on crude oil sales among opec member states. It now produces even more oil than Saudi Arabia. How is that possible? Because America is not “strictly enforcing its sanctions on Iranian exports,” as shown in its shameful prisoner-exchange deal with Iran.
The Biden administration wants to raise gas prices. It wants to weaken America. It wants to destroy the U.S. oil industry. It wants the Middle Eastern nations to prosper at America’s expense.
Mr. Flurry continues:
These actions truly cannot be explained any other way. This wasn’t simply the result of ineptitude on the part of this administration or naivety about how the world really works. These were the aftereffects of a calculated, aggressive, satanic attack aimed at weakening and ultimately destroying the nations of Israel, starting with the world’s most powerful nation.
Many are awakening to the reality that Joe Biden is a disposable puppet president placed in power to inflict maximum damage to American interests. The complicit and corrupt media will continue to obfuscate for and defend him. The next time time he dips into the reserves, expect him to take credit for any short-term gas price drops. Expect the media to fawn over his economic brilliance. Expect them to try to inveigle their way into voter sympathies however they can.
Expect them all to ignore the long-term ramifications of their actions and place the blame on “Putin’s price hike.”
It is all a deliberate effort to utterly destroy and fundamentally transform America. To learn more about these efforts, request your free copy of Mr. Flurry’s book America Under Attack.