OpinionPolitics

Biden Released Oil Reserves to Bring US Prices Down…Why Did 5M Barrels of Oil Go to Other Countries?

Biden released millions of barrels of oil from the Strategic Petroleum Reserves supposedly in order to bring down the ridiculously high price of oil in America. He will continue to do so until October. Instead, 5 million barrels of that oil went to Europe and Asia. OUR strategic oil reserves were exported to other countries for THEIR use. It’s mind-boggling.

The fourth-largest U.S. oil refiner, Phillips 66 (PSX.N), shipped about 470,000 barrels of sour crude from the Big Hill SPR storage site in Texas to Trieste, Italy, according to U.S. Customs data. Trieste is home to a pipeline that sends oil to refineries in central Europe.

Atlantic Trading & Marketing (ATMI), an arm of French oil major TotalEnergies (TTEF.PA), exported 2 cargoes of 560,000 barrels each, the data showed.

Phillips 66 declined to comment on trading activity. ATMI did not respond to a request for comment.

Cargoes of SPR crude were also headed to the Netherlands and to a Reliance (RELI.NS) refinery in India, an industry source said. A third cargo headed to China, another source said.

At least one cargo of crude from the West Hackberry SPR site in Louisiana was set to be exported in July, a shipping source added.

Reuters

Biden has spent many a speech blaming everyone but himself for high gas prices. It’s Putin’s fault. It’s oil companies fault. It’s the mom and pop gas station’s fault. The fault is from a stupid occupant of the White House who listened to the green energy idiots and cancelled oil and gas leases, pulled the pipelines, heavily regulates what little energy resources we have left with the intent to choke them out, and continues to be a total tool for the leftists in the area of economics. And then goes to dictatorships like Venezuela and Iran to beg for more oil when we have our own if he’d release the leases and energy companies.

An oil company official remarked that “whichever intern sent that tweet, you might have them register for ECON 101.” He releases the Strategic Petroleum Reserves, lies to the American people about why, and gives it to foreign countries. The SPR is at its lowest point since 2004 and absolutely must be refilled as the world sits on a powderkeg. US refineries are operating at 97.% utilization, which is the highest in the world.

“Crude and fuel prices would likely be higher if (the SPR releases) hadn’t happened, but at the same time, it isn’t really having the effect that was assumed.”

Matt Smith, lead oil analyst at Kpler

“How is exporting oil from our Emergency Reserves NOT treasonous?”

AAP1776

That’a great question.

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H/T Uncle Sam’s Misguided Children

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Faye Higbee

Faye Higbee is the columnist manager for Uncle Sam's Misguided Children. All of her posts on Conservative Firing Line are also posted on Uncle Sam's.

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