Article

2022-07-06 Economy

Biden Selling Strategic Reserve Oil Overseas

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Posted by NoMoreBS 2022-07-06 11:45|| || Front Page|| [11132 views ] Top

#1 it gets worse, as this article points out that the Chinese are buying it and using it to fill THEIR strategic reserves.

"he American Energy Alliance points out that it's actually worse than it looks -- China isn't even using the oil -- it's stockpiling it for its own strategic petroleum reserves, meaning, the U.S. oil taken off the market is not helping to lower the price of crude even on a worldwide basis.

China has also refused to play Biden’s game. Biden thought he had coordinated a global effort to release more than 1 million barrels per day of strategic oil reserves in order to reduce gasoline and diesel prices since he expected those reserves to be refined and sold to consumers. However, for every barrel of reserve the President has sold, China has taken a barrel off the global market, adding it to Chinese stockpiles. China’s stockpiling eliminated any benefit to U.S. consumers from the SPR release, instead reducing U.S. energy security while strengthening China’s energy security"

American Thinker link

Posted by NoMoreBS 2022-07-06 15:27|| 2022-07-06 15:27|| Front Page Top

#2 ^^^---- Working as Designed. You can bet Biden's handlers knew this would happen.

Posted by CrazyFool 2022-07-06 16:42|| 2022-07-06 16:42|| Front Page Top

#3 And if a war or national emergency comes, we can do nothing.

Posted by Besoeker 2022-07-06 16:51|| 2022-07-06 16:51|| Front Page Top

#4 The usual 10% for the "Big Guy?"

Posted by JohnQC 2022-07-06 18:30|| 2022-07-06 18:30|| Front Page Top

#5 I hear no talk of restocking anything. Oil or military equipment of all sorts.In USA Americans be damned. Everything liberals touch is ruined.

Posted by Dale 2022-07-06 18:32|| 2022-07-06 18:32|| Front Page Top

#6 Everything ~~liberals~~ commies touch is killed or ruined.

Posted by JohnQC 2022-07-06 20:39|| 2022-07-06 20:39|| Front Page Top

#7 The greenies love this.

Posted by Cletle Shinese1880 2022-07-06 22:35|| 2022-07-06 22:35|| Front Page Top

#8 Also, Biden reducing tariffs on Chinas cheap imports will destroy what is left of American manufacturing.

Posted by Cletle Shinese1880 2022-07-06 23:27|| 2022-07-06 23:27|| Front Page Top

#9 ^^--- Again, as designed.

Posted by CrazyFool 2022-07-06 23:47|| 2022-07-06 23:47|| Front Page Top

23:47 CrazyFool
23:27 Cletle Shinese1880
23:18 Lionel Hatfield8646
22:35 Cletle Shinese1880
22:33 Rex Mundi
22:27 James
22:23 Sock Puppet of Doom
22:10 trailing wife
22:03 DooDahMan
22:01 DooDahMan
20:46 JohnQC
20:41 JohnQC
20:39 JohnQC
20:13 Beavis
20:11 jpal
19:57 Procopius2k
19:51 CrazyFool
19:51 Glenmore
19:40 Anomalous Sources
19:27 Frank G
18:57 KBK
18:43 trailing wife
18:39 Besoeker
18:39 Dale