When the Department of Energy announced that it had successfully replenished the nation’s stockpile with the total purchased volume of 40 million barrels, the announcement had some people scratching their heads.
The Strategic Petroleum Reserve (SPR), as the stockpile is called, contained over 630 million barrels of crude oil when President Biden took office in January 2021. Last week, it had less than 376 million barrels. How did the DOE refill the SPR with only 40 million barrels?
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The Biden administration is selling off a million barrels of gasoline from an emergency reserve in a deliberate effort to cut prices ahead of the upcoming holiday weekend.
The Department of Energy (DOE) announced that it has awarded contracts to five energy companies to purchase the barrels the administration is releasing from the Northeast Gasoline Supply Reserve (NGSR), which is part of the federal Strategic Petroleum Reserve (SPR) system. The NGSR releases are intended to “help lower gas prices ahead of the Fourth of July holiday,” according to DOE.
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As Trump continues to show leads in critical swing states, as various lawfare-inspired cases against him seem to the public to be more persecutions than prosecutions, and as Joe Biden appears daily more incoherent and lost, the left on spec has resorted to warning the nation about all the supposedly catastrophic consequences of a future Trump presidency.
Ironically, the left seems oblivious to the reality that one reason Trump leads Biden in the polls is precisely because voters can compare the four-year record of the prior Trump presidency to Biden’s last 40 months.
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