This is not the time to drain our strategic oil reserves. WTH?


Treasury Department Estimates that Strategic Petroleum Reserve Releases by President Biden and International Partners Reduced the Price of Gasoline by up to 40 Cents Per Gallon

The Market likes it too.

Why would he dump our strategic reserves only to buy it all back? Oh wait, November 7th coming up. Never mind. I figured it out.


With U.S. midterm elections nearing, the more oil prices continue to rise, the more likely it is that President Trump decides to tap the strategic petroleum reserve (SPR) to tamp down oil prices just ahead of the November vote.

:index_pointing_at_the_viewer: WAFI :index_pointing_at_the_viewer:


America first? My guess is that President Biden knows the price of oil is currently inflated and unsustainable due to socio-economic political events outside of his control. He must be aware of a future event which will cause the price of oil to moderate thus allowing the rebuilding of oil reserves at a much lower cost per barrel than the current market price. Obviously the sanctions coupled with the strategic oil reserves are beginning to do the economic job they were designed to accomplish.

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How would he be aware of anything other than his war on fossil fuels? Sure, the prices may stabilize, but it will have nothing to do with his actions. The moment he stops flooding the market with reserves, the prices will likely increase (with fluctuations) because policy matters.


Who was the vice president last time they were drained, and who was the president that filled it back up again?
And Trump didnt do it so that this moron could drain them again while trying to fix his own damn problem that HE created.


Why not? And if not now, when?

The worldwide high inflation that has resulted in the high price of oil due to lack of supply and extremly high demand is exactly what the SPR was created for. I would think you’d be all for using the SPR to lower fuel costs for all of us, including home inspectors.

Role of the SPR:
Maintaining the Strategic Petroleum Reserve is an important national security tool to combat disruptions in the oil market. The reserve is intended to be America’s insurance policy against a severe oil supply disruption or a severe economic disruption.


On a positive note, a lot of the oil was purchased cheap during Covid (by Trump) in order to prop up the oil price, in hopes of staving off bankruptcy for US oil companies. So we should be making a nice profit on the sales anyway. I mean, the profit will be wasted on stupid shit, but whatever.


I do not disagree. Is there a policy in place to replenish the reserves? Seems like this war on the fossil fuel industry may make this problematic. In my opinion, we should have never been in the position to beg for oil in the first place, but too late for that now.

Who was begging for oil? It went over $125.00 a barrel leading to $5.00+ a gallon at the pump, yet Americans never skipped a beat, they kept driving more, flying more, and buying more, IMO the high price of oil eventually could have led to destabilizing the economy in a real bad way, thus the reason to open the reserves and bring the price down.

As for a policy to replenish it, none that I know of, but I would think it would be a good time when oil inevitably drops back below $50.00 a barrel, but hey, I’m just a home inspector from Ohio.

How quickly we forget. Biden counts on that you know.

Oh, let’s not leave out other bad actors

But, did he turn to American oil companies for relief? No, he bullied them. First, he starts a war with the oil industry, then he snubs them and goes to other countries and then attacks them


Depends how you define “severe”.
Vacations cost an extra $300, and gas is painful at the pump is not particularly “severe”.

Drawing down the reserve is a one trick pony. When it’s gone it’s gone.

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Depends on your income, no? Or what you do for a living, no?

Tell that to the coupon clipping, meal stretching, second hand, garage sale shopping, penny pinching just trying to make it paycheck to paycheck family. (Who certainly can’t afford an EV)

It’s hard to keep taking these punches and be told to suck it up. And there is no end in sight because there are no good policies coming out to change things. It’s bleak nationally and globally.

I’m very glad Biden was able to help mediate the rail strike, I’m not sure how much more we could take.



I agree, the term severe has different meaning depending on who you ask, but pretty much everything gets transported by plane, train, or truck, which currently burns oil, which inturn increases the cost of those items being shipped at their final destination.

According to the article Nick posted above, the reserve is down to 434.1 million barrels, thats over a year and a half at the current rate of burn that we have until it’s depleted.

Speaking at a White House conference on hunger and nutrition, Mr Biden offered the warning at the outset of his remarks while discussing his contact with Florida officials in preparation for the arrival of the category four storm.

“I want to add one more warning to oil and gas industry executives: Do not — let me repeat — do not use this as an excuse to raise gasoline prices on the American people,” Mr Biden said.

Just another example of sound leadership, thank you Mr. President.

LOL, they were already rising before the hurricane. He has more excuses.

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Too bad he is against “gauging”, and not “gouging”!!
What a dumbass!!