Graves on the Biden administration’s release of strategic oil reserves | pelican post
US Congressman Garret Graves released the following statement after reports emerged that the Biden administration is set to tap emergency oil supplies from the Strategic Petroleum Reserves (SPR) for the third time in six months. The Biden administration previously announced that it would tap into our Strategic Petroleum Reserve earlier this month, which we predicted.
The administration is expected to release one million barrels of oil a day, for six months, ending just before the midterm elections. The United States consumes about 20 million barrels a day. A discharge of one million barrels per day represents almost 5% of the daily domestic consumption of the United States. The alleged six-month total of 180 million barrels is comparable to less than two days of global demand.
“We are in an energy crisis. Gas and electricity prices have skyrocketed. It is true that our strategic petroleum reserve was created to respond to emergencies; however, it is not for self-imposed crises resulting from dumb energy policies. The gasoline and electric prices that all Americans are paying right now are not the fault of the idiots in Russia, but of the idiots who direct the energy policies of our federal government. As we reported in November, tapping into energy reserves is not a long-term solution to solving soaring prices at the pump. This administration has not issued a single energy lease since taking office, a first. The school kids who run lemonade stands across America have better backfilling and economic strategies than we see from the Biden administration’s energy team,” grave said. “Their ‘None Above’ energy strategy is costing us all. When you add their inflation issues, their supply chain issues, labor shortages, we just can’t afford this administration.