Joe Biden has just announced that he will drain 15 million barrels of oil from the U.S. Strategic Petroleum Reserve to lower gas prices, 1 million more barrels than had been previously suggested in earlier reports this week.
“The Department of Energy will release another 15 million barrels from the Strategic Petroleum Reserve, extending our previously announced release through the month of December, ” Biden said yesterday.
Shortly into the president’s announcement, he began to mispronounce and stutter his words as he blamed other countries, presumably Saudi Arabia and Russia, for the rise in gas prices at home.
“Independent analysis – excuse me – independent analysts have confirmed that draw downs from the reserves so far have played a big role in bringing down oil prices, bringing them down,” Biden said, appearing to tacitly admit that raiding the country’s emergency oil supply is how his regime is keeping gas under $5.
“So, we’re going to continue the responsible use of that national asset,” Biden stammered.
“Right now, the [inaudible] Strategic Petroleum Reserve is more than half full, with about 400 million barrels of oil. That’s more than enough for any emergency drawdown. With my announcement today, we’re going to continue to stabilize markets and decrease the prices at a time when the actions of other countries have caused so much volatility,” the 79-year-old president said, with some trouble.
Biden on how he's planning to reduce gas prices: "The Department of Energy will release another 15 million barrels from the Strategic Petroleum Reserve…" pic.twitter.com/3Cb0b3ti6f
— The Post Millennial (@TPostMillennial) October 19, 2022
The president then stated his administration’s intention to revitalize domestic oil production in a way that would not negatively impact their “transition to clean energy,” denying claims that they’ve impeded American energy production through various environmental regulatory policies.
“Let’s debunk some myths: My administration has not stopped or slowed U.S. oil production,” Biden claimed.
“Quite the opposite, we’re producing 12 million barrels of oil per day, and by the end of this year we will be producing one million more barrels a day more than the day in which I took office.”
Biden then asserted that he will refill the strategic reserve “in the years ahead at a profit for taxpayers.”
Biden: "Let's debunk some myths: My administration has not stopped or slowed U.S. oil production." pic.twitter.com/jSMdBi64Gl
— Greg Price (@greg_price11) October 19, 2022
“The United States government is going to purchase oil to refill the strategic petroleum reserve when prices fall to $70 a barrel. That means oil companies can invest to ramp up production now with confidence that they’ll be able to sell their oil to us at that price in the future — $70,” Biden said.
“Refining and refilling the reserve at $70 a barrel is a good price for companies, and it’s a good price for the taxpayers, and it’s critical for our national security,” Biden claimed.
Later in his remarks, Biden blamed the rise in gas prices on Russian President Vladimir Putin, and subsequently took credit for taking measures to see those prices lowered.
“When the price of gas goes up, other expenses get cut. That’s why I have been doing everything in my power to reduce gas prices since Putin’s invasion of Ukraine caused prices to spike,” Biden said.
Biden: "I have been doing everything in my power to reduce gas prices since Putin's invasion of Ukraine caused prices to spike." pic.twitter.com/kbU60yQ2AF
— Greg Price (@greg_price11) October 19, 2022
Despite the president conceding that expensive gas is actually bad for Americans, his press secretary appeared to disagree earlier this week when she informed Americans that they should be celebrating $4.00 gas because, supposedly, it’s been collectively saving taxpayers $420 million dollars every day.
https://twitter.com/Breaking911/status/1582437223521169409?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1582437223521169409%7Ctwgr%5Ef389798a49b88e0630dfdf428406480699e927a9%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fvaliantnews.com%2F2022%2F10%2Fkjp-4-gas-means-americans-save-about-420-million-at-the-pump%2F
“Every month, the typical 2-driver family saves about $120 at the pump compared to where we were in mid-June. Everyday Americans save about $420 Million at the pump,” Jean-Pierre claimed.
This news and commentary by Andrew White originally appeared on Valiant News.
