(Mark Pellin, Headline USA) Faced with the growing likelihood of a brutal red wave midterm, President Joe Biden is slated on Wednesday to continue his partisan efforts to hustle more votes for Democrats with another raid of the Strategic Petroleum Reserve.
Biden has already depleted the country’s oil reserve, which is supposed to be used only for national emergencies, to its lowest levels in nearly a half-century as a way to artificially control gas prices ahead of the midterms.
With the oil from those previous raids set to expire, gas prices at the pump again climbing and voters headed to the polls, the White House announced that Biden would unveil his last-ditch effort to help fix the crisis he created, which includes releasing at least another 10 million barrels of emergency oil supplies.
As you read about President Biden’s decision to release an additional 10-15 mb from the SPR just about 15 working days from election day.. Remember this: he and others want to sue OPEC members for “price manipulation” #Oil #OOTT #OPEC #Biden pic.twitter.com/DWDzw2cCY8
— Anas Alhajji (@anasalhajji) October 18, 2022
In the wake of his shameless groveling and begging for OPEC+ to increase oil production being answered by the Saudi cartel instead slashing releases, Biden’s solution is to continue tapping the SPR to record depletion, scream and shout at Big Oil for alleged price gouging and redouble his radical green energy agenda.
The news of Biden’s scheduled pronouncement was met with equal parts criticism and condemnation for using the country’s emergency oil supply for pure political gain.
Sen. John Thune, R-S.D., blasted Biden for continuing “to mortgage our nation’s energy security by drawing down the SPR to record lows.”
“We must offset OPEC with actual production, not this recklessness,” Thune wrote.
Noting that SPR levels “are on the verge of dipping below 400 million for the first time since 1984,” Rep. Pat Fallon, R-Texas, said Biden’s “continued abuse of our emergency stockpile is unacceptable and nothing more than a political stunt.”
As an added stroke of cunning, Biden on Wednesday is also expected to announce his plans “to repurchase crude oil for the SPR when prices are at or below about $67-$72 per barrel.” The horrendous math of those intentions did not go unnoticed.
“Remember when Trump wanted to fill the SPR at $20 a barrel and Democrats scoffed? That stupid Trump, right? Who really needs the SPR?” cracked RedState’s Bonchie.
Re Biden depleting our SPR (strategic petroleum reserves):
“When Trump was in office he suggested refilling the SPR when oil was $24/barrel & they said no…now what are we going to do? So everything just seems upside down.”@DanaPerino pic.twitter.com/sNjL12Ap9M
— SouthernwayJim1 (@southernwayjim1) October 13, 2022
Industry experts and market analysts were also confused by Biden’s latest election-meddling oil raid, which might not even have the desired impact of lowering prices.
“Moving SPR crude from emergency reserves to commercial tanks now may not help lower retail gasoline prices, or only slightly,” DTN product manager and analyst Brian Milne told MarketWatch.
“Such a policy doesn’t make sense,” he said, adding that it also “indicates a lack of understanding of market dynamics.”
Because of President Biden’s failed energy policies, the United States no longer has the world’s largest government-controlled stockpile of oil.
The SPR is at its lowest level since 1984.@POTUS has compromised our energy security and national security. pic.twitter.com/gxRTNqw5gR
— CathyMcMorrisRodgers (@cathymcmorris) October 18, 2022
At a loss for any substantive reason for Biden’s latest oil raid just weeks before the midterms, White House spokesperson Karine Jean-Pierre fell back Tuesday on the administration’s favorite excuse of blaming Russian henchman Vladimir Putin for the pain consumers are feeling at the pump, while gaslighting voters on Biden’s efforts to achieve energy independence.
“President Biden has said for months that he is committed to doing everything he can in his power to address Putin’s price hike,” Jean-Pierre said.
