U.S. Set to Draw Record Amount From Emergency Oil Reserve

[IroNat]

https://www.investopedia.com/us-set-to-draw-record-amount-from-emergency-oil-reserve-5224294?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral

The U.S. government is contemplating releasing up to 180 million barrels of oil from its emergency supplies, people familiar with the matter told Reuters, in a desperate bid to lower high fuel prices and curb inflation

[Dos Equis]

https://www.investopedia.com/us-set-to-draw-record-amount-from-emergency-oil-reserve-5224294?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral

The U.S. government is contemplating releasing up to 180 million barrels of oil from its emergency supplies, people familiar with the matter told Reuters, in a desperate bid to lower high fuel prices and curb inflation

We went from being energy independent under Trump to dependency (again) under Biden, to Biden releasing barrels from our reserve in response to the “Putin price hike.”  Now he’s going to release more to combat the inflation he created.  Dumpster fire. 

[IroNat]

Sources of U.S. oil imports:

https://worldpopulationreview.com/country-rankings/us-oil-imports-by-country

Top 10 Countries from Which the U.S. Imports Oil (in barrels per day Dec. 2021):

    Canada — 4,783,000
    Mexico — 645,000
    Saudi Arabia — 550,000
    Russia — 405,000
    Colombia — 228,000
    Iraq — 223,000
    Ecuador — 219,000
    United Kingdom — 126,000
    Nigeria — 110,000
    South Korea — 102,000

[SOMEPARTS]

The way you can tell this is political is to look at the oil price charts. Oil is running about average of what it has since Biden began his term. Why the emergency?

Why not go greener and stop using all this evil oil? 

[Moontrane]

We went from being energy independent under Trump to dependency (again) under Biden, to Biden releasing barrels from our reserve in response to the “Putin price hike.”  Now he’s going to release more to combat the inflation he created.  Dumpster fire.

Ironically, we're producing more oil than ever (prior peak was March 2020), but demand outstrips domestic supply.  Biden's anti-drill policies are to blame.

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrfpus2&f=m

[Irongrip400]

Fuel prices being what they are, are terrible. Keep fucking drilling. My fuel bills since a low in May 2020 are brutal now. I was paying $1.10 gallon for off road fuel delivered to my shop and today was $3.36 and I’m supposed to be happy about that because it’s not $4.50 gallon anymore?