With China threatening to invade Taiwan and the Ukrainian war teetering on the brink of the use of nuclear weapons, Joe Biden is depleting our strategic oil reserves to save his own ass.
To keep gas prices low before the November elections, he is thinking that the release of even more barrels of oil from the federal government’s strategic reserves is going to be enough to get a few more democrats elected during the mid-term elections.
According to Bloomberg News, the Biden administration intends to withdraw an additional ten to fifteen million barrels of crude from the Strategic Petroleum Reserve. That would be a larger depletion of the oil reserves than by all prior presidents put together.
The level of oil reserves now is the lowest since 1984.
Despite Biden’s unprecedented oil releases to lower gasoline prices, the OPEC+ countries decided to reduce oil output by two million barrels per day in October.
On Monday morning, gas prices in Los Angeles County soared over the previous record set during the worldwide price increase this past spring, reaching a record high of $6.466 per gallon.
Despite administration officials working behind the scenes pleading with OPEC+ and Saudi Arabia to postpone their cuts until after the midterm elections, the president expressed his unhappiness with their choice.
Recently, Biden ran for office in California, where a gallon of gas costs almost $7.
“Well, that’s always been the case here,” Biden said in response to a question about the state’s gas rates, which are close to $7 per gallon.
In a speech on Americans paying more, he said, “[A] lot of it is the result of getting the cost of living at the gas pump down by more — now even in California now — by more than a dollar nationally and — since the start of summer.”
