Biden’s Wasteful SPR Release

Biden’s Wasteful SPR Release

Gasoline price increases typically lead to decreased approval ratings for incumbents no matter the ... [+] political party.

President Biden’s release of 180 million barrels, one million per day for 180 days, will prove to be a wasteful, futile gesture. Why? Both OPEC and Russia must co-operate and not further reduce oil supplied to the global market to give price relief to the U.S. consumer. They did not co-operate on the prior 50 million barrels that were released in the past few months by President Biden. Oil prices stayed high. Everyone knows the amount of oil that the U.S. has in the Strategic Petroleum Reserve, or SPR, just like you know the stacks of chips on the poker table. It is simple matter to run Biden out of this game.