The Strategic Petroleum Reserve since the 46th President took office

The enormous and rapid depletion of the SRP in peace times was one of the many huge scandals during the administration of the senile, demented, and corrupt 46th President!

This scandal was seriously underreported by the news media. I blogged about early on (please click the label Strategic Petroleum Reserve nearby).

The lowest point or about half what it used to be was reached in June 2023 (see also table below). 

This was crass vote buying by artificially depressing gas prices in the US instead of drill baby drill etc.!

It might take years to bring it up again to pre 46th President levels and how much will it cost.

U.S. Ending Stocks of Crude Oil in SPR (Thousand Barrels)

Department of Energy to refill U.S. oil reserves, the 46th President depleted by about 1/3, but it could take six years

This was a huge and largely underreported skandal by the 46th President! Another reckless and irresponsible action by the senile, demented and corrupt 46th President!

"... When [46th President] took office in January 2021, the SPR contained more than 638 million barrels of oil, according to the U.S. Energy Information Administration (EIA). In June 2022, following the Russian invasion of Ukraine, the average retail price of gasoline in the U.S. was nearly $4.30 per gallon. With the midterms approaching, the high cost of gas threatened to push more voters toward Republican candidates. In an effort to bring those prices down, [46th President] began draining the SPR. In January, when Trump took office, it held approximately 395 million barrels. It currently stands at 399 million barrels.  ..."

Wright says DOE 'committed' to refilling U.S. oil reserves Biden depleted, but could take six years | Just The News

This year marks first since 1958 that US held no oil and gas lease sales

Bad news! But fully expected from the senile, demented and corrupt 46th President!

But the 46th President did not mind to deplete the Strategic Petroleum Reserve (I blogged about this subject too).

"... The only lease sale in 2022 was a bit of acreage offered in Alaska’s Cook Inlet, and it resulted in a single bid. ..."

This year marks first since 1958 that US held no oil and gas lease sales | Just The News "If the Inflation Reduction Act hadn't required the Interior Department to hold oil and gas lease sales before offering offshore wind lease sales, there would have been no leases in 2023, either."

Chart of the day

Not only did the senile, demented and corrupt 46th US President substantially, recklessly and irresponsibly deplete the Strategic Petroleum Reserve during his term, he also drilled more for oil than his predecessor.

Is that not ironic or hypocritical? Drill Biden drill!

Source

46th President to release 1 million barrels of gas from Northeast reserve. Really!

More reckless and irresponsible decisions by the senile, demented and corrupt 46th President has already dangerously depleted the Strategic Oil Reserve during his term. It was the 46th President who from the first day in office waged war on the domestic fossil fuel industry e.g. by cancelling the Keystone pipeline!

Oil leader sends stark warning over US’ emergency oil reserve

The senile, demented, and corrupt 46th President has recklessly and drastically reduced the Strategic Oil Reserve by almost 300 million barrels to smooth the price of gas while he also aggressively shutdown domestic fossil fuel production! I have blogged here about this some time ago already (just click on the Strategic Petroleum Reserve tag)

How the 46th President abused the Strategic Petroleum Reserve

The senile, demented and corrupt 46th President is also reckless and irresponsible! The same president, who stopped Keystone Pipeline on the first day in office.

The SPR was only created in late 1977 following the 1973 oil crisis.

Picture of the day

You have to thank the senile and demented 46th President for that! Reckless!

Saudi Arabia criticize Biden for releasing fuel reserves and thereby manipulating markets

The Saudis are quite right to criticize the demented and senile 46th President for abusing the Strategic Petroleum Reserve by significantly depleting it for short term political and myopic reasons! Please see my other blogs about the SRP under its label.

Biden will release 15 million barrels of oil from the strategic reserves, which are down at least one third thanks to him

This pathetic, demented and senile 46th President has already depleted the Strategic Petroleum Reserve by about 1/3 for no good reason! I blogged here about it.

Under the 46th President the domestic fossil fuel production was severely curtailed in many ways!  The U.S. turned from net exporter of fossil fuels to drainer of the SPR! So absurd!

Biden will release 15 million barrels of oil from the strategic reserves : NPR

The 46th President curbs domestic fossil fuel production and drains the Strategic Petroleum Reserves

Can you imagine a more contradictory or bizarre policy by the demented and senile lifelong pathological liar 46th President. This is sheer madness!

And he does this despite the fact that the international energy markets are in turmoil and a potentially escalating war is going on in the Ukraine!

Under President Trump, the U.S. became a net exporter of fossil fuels again for the first time decades! The Dimocrats and the 46th President made sure to destroy this outstanding achievement! 

This is reckless and irresponsible! Another good reason to impeach this president!

Since he came into office, he has diminished the SRP by a whopping 222 million barrels or roughly one third and it continues!

Weekly U.S. Ending Stocks of Crude Oil in SPR (Thousand Barrels)

2021-Jan 01/01 638,085

2022-Sep 09/30  416,389 

Weekly U.S. Ending Stocks of Crude Oil in SPR (Thousand Barrels)

Tucker Carlson: Biden should be impeached for selling 5 million barrels of oil from the Strategic Petroleum Reserve to China & India

Very recommendable! The demented and senile 46th President is long overdue for an impeachment!

Biden announces release of oil from Strategic Petroleum Reserve, blames Putin, oil companies

If you are incompetent in economics, you sure will resort this old, worn out remedy! Not to mention that this lifelong career politician is demented and senile, corrupt and compromised!

Mr. president open up domestic fossil energy production, lower taxes and so forth!

Biden announces release of oil from Strategic Petroleum Reserve, blames Putin, oil companies | Just The News