[American Thinker] It's no secret that Americans are paying record prices at the gas pumps. Rapidly ascending prices also affect the cost of all the goods and services that are an integral part of the American economy. Farmers, manufacturers, delivery companies, repair people...you name it: they're paying more to do their jobs, and they're passing those costs to consumers. So why now, of all times, is the Biden administration selling off America's Strategic Petroleum Reserve (SPR) to Asia?
| It turns out that Biden is already tapping into the SPR; he's just not doing it to help Americans. A report in investment circles is finally trickling down into the mainstream news: Biden is selling massive amounts of SPR oil...to Asia! |
As the name suggests, the SPR is America's emergency backup supply of oil. The reason we have it is because of the energy crisis in the early 1970s. According to Wikipedia, which is probably accurate about this, "[t]he United States started the petroleum reserve in 1975 after oil supplies were interrupted during the 1973—1974 oil embargo, to mitigate future supply disruptions."
Fast-forward to 2021. Upon entering the Oval Office, one of the first things Biden did was to shut down the Keystone XL pipeline. Henceforth, rather than flowing safely through a pipeline, Canadian oil will come the expensive way, over land, whether in trucks (which are in short supply) or on trains.
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