U.S. Oil Reserves Shipped Overseas While Americans SUFFER
(UnitedVoice.com) – Although the price of gas is dropping slightly in America, it’s still more than $4 per gallon. Families are struggling to fill their gas tanks as a result. President Joe Biden began releasing oil from the Strategic Petroleum Reserve (SPR) to increase the supply on the global market and bring prices down. A new report alleges some of that oil is going overseas.
According to Reuters, the Biden administration sent more than 5 million barrels of SPR oil to Europe and Asia, including China, in June. The article alleges the exportation of the fuel is lessening the impact of its release from the reserves for Americans. Biden has authorized the release of one million barrels daily from its stock until October.
Conservatives criticized the president for the exports, expressing concern that it’s the reason gas prices remain high.
Americans are getting crushed by high gas prices.
And Joe Biden is sending our oil reserves to China.
This is what America Last looks like. https://t.co/Jvc8id3pHC
— Steve Scalise (@SteveScalise) July 7, 2022
For weeks Biden has pointed to his release of oil from the Strategic Petroleum Reserve as proof that he is doing all he can to lower gasoline prices for Americans, but over 5M barrels went to China & other nations last month as gas prices hit record highshttps://t.co/KY4ax4aY3N
— Michael Shellenberger (@ShellenbergerMD) July 6, 2022
A Department of Energy spokesperson told Reuters the SPR is a “critical energy tool to address global crude oil supply disruptions.” The report indicated the exports followed April shipments of crude oil to Europe to help replace supplies lost due to countries moving away from Russian oil.
The United States government exporting SPR oil isn’t new. In 2020, the Congressional Research Service released a report detailing why the reserves were so important, stating that America “uses the SPR to meet its [International Energy Program] requirements.” During an emergency, the US holds obligations to use the reserves to “reduce the impact of supply disruptions.”
Do you think the US should continue to meet its International Energy Program requirements or put itself first?
Copyright 2022, UnitedVoice.com
