President Joe Biden has drained America’s strategic oil reservoir to a dangerously low level, all in the name of politics. So contends the head of the U.S. Oil and Gas Association.
In a recent interview with the website JustTheNews.com, association President Tim Stewart said Biden is using the Strategic Petroleum Reserve as a “campaign credit card” to try to save the Democrats from a crushing defeat in November’s midterm elections.
“This is the first time in history, honestly, that the Strategic Petroleum Reserve has been used as a campaign credit card to buy down political risk for the midterms,” Stewart told John Solomon of Just The News.
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“At the current rate, the U.S. is selling more oil out of its emergency reserves than the production of most medium-sized OPEC countries like Algeria or Angola,” Smith said.
“We’re selling twice as much per day than we’re producing out of Alaska. That puts us somewhere between Exxon and Conoco in terms of … the impact we’re having on the daily supply — and this is happening without new oil going into replacing it.”
Just The News noted that as of Sept. 16 the Strategic Petroleum Reserve, a reservoir of oil created by President Richard Nixon to help avoid energy shocks created by volatility in the Middle East, held 427.2 million barrels. That is the least amount since August 1984.
Stewart also called out Biden for his “sheer hypocrisy” on the gas price issue.
Biden, he said, spent “decades beating up on the oil and gas industry,” and then profited off of it when he was out of office as his son, Hunter Biden, traveled the globe cutting oil deals, and then as president is “back in and trying to to hamstring and to kneecap our industry again.”
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As The Free Press reported, President Biden this week bashed the oil industry as Hurricane Ian approached Florida. He told energy companies not to “gouge” consumers because of the storm.
The Free Press also noted Biden pledged in April to drain 1 million barrels a day over a six-month period in response to Vladimir Putin’s invasion of Ukraine.
Yet Biden began siphoning off the national reserves in October 2021 to combat rising gas prices.
The views and opinions expressed in this commentary are those of the author and do not necessarily reflect the opinion of The Free Press.
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