Biden's Latest Strategic Petroleum Reserve Failure Shows Just How Bad His Policies Are Versus Trump's
One of the problems with Joe Biden is that he doesn't make decisions that are in the best interests of the American people and the country. His decisions seem based on what someone thinks will help him or benefit Democrats politically.
As we previously reported, Joe Biden robbed the Strategic Petroleum Reserve to try to help bring gas prices down before the 2022 election. Now if he had been supportive of American fossil fuels and ensuring our own energy independence, he likely wouldn't have been faced with the higher prices But then he robbed the storehouse in order to help the Democrats' chances in 2022.
Biden Loses It When Asked About Political Nature of Latest SPR Oil Release
Biden claimed when he took from the SPR that he had a "plan" to refill it. But Joe being Joe, you had to know that wasn't going to go well.
Now the word is that he's canceled the latest plan to refill the SPR because of the high prices.
The Biden administration has a target to buy oil at $79 or lower to refill the reserve, though spent an average of about $81 a barrel in its latest purchase of 2.8 million barrels late last month.
The price now is $85. It was fully predictable that it was going to go up after they drained it but they didn't care. Notice there that they're already buying it at a higher price of $81. That's how their "plan" is going.
Not only are they paying more after they drained it, but they left it at its lowest point in 40 years, endangering our security for political reasons. It currently holds about 363 million barrels, down almost 600 million from the beginning of 2022.
This was what it looked like under Biden in October 2022.
By comparison, Trump encouraged our energy independence and didn't attack fossil fuels. He had a plan to fill the SPR by purchasing 77 million barrels at $24 a barrel. But Democrats in Congress blocked it, calling it a "bailout" for the oil industry. And Trump wanted to fill it to ensure our security, not empty it to help himself politically. The Biden team was asked about that, and said it wasn't necessary when Trump proposed it.
Now Biden is paying $81 a barrel.
Talk about an excellent example of how bad Biden is, and how much better Trump is on virtually every important issue for the health of our country.
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