A Tragic Conclusion Awaits The Unsuccessful “Plan” To Lower Gas Prices In The United States

How can this be a reason for not impeaching? How is the Biden administration allowed to commit such heinous crimes against its own people without being held accountable?

Our rivals in China are reaping the benefits of Trump's labor while the dictatorship accuses Vladimir Putin of being to responsible for the miseries brought on by high gas prices and vicious inflation.

According to data from the U.S. Department of Energy, the country's emergency crude oil stockpile this week reached more over 469.9 million barrels, its lowest level since 1985.

In an effort to counteract rising petrol prices, which in June reached a record-high national average of more than $5 per gallon, President Joe Biden ordered the historic release of 1 million barrels of oil per day from the U.S. emergency reserve in March.

In comparison to what they would have been otherwise, senior White House officials told reporters last week that the drawdowns have lowered American gasoline prices by up to around 40 cents per gallon.

In order to promote stability and replenish the short-term supply, the Biden administration also announced procedures last week that would permit the purchase of oil under fixed-price contracts. The White House announced in a statement that this strategy will most likely go into action after fiscal year 2023.

According to DOE data, emissions have been averaging 880,000 barrels per day since May.

Following the DOE's inclusion of Chinese state-owned gas firm Unipec on its list of 12 corporations to whom it had issued contracts to acquire crude oil from the Strategic Petroleum Reserve, the oil sales drew criticism from some Republicans in recent weeks.

Some claimed that Biden was not acting in the nation's best interests by selling to China, which has significantly increased its purchases of cheap Russian crude as a result of that nation's conflict in Ukraine.

Legally, the United States must sell crude oil to the highest bidder. Only a small number of circumstances—such as selling to a corporation that has been sanctioned—allow for exceptions.

On its website, the DOE states that once businesses buy oil, the US government has no jurisdiction to control where it is sent.

Two consecutive shipments of SPR oil to China last fall, totaling a combined 4 million barrels in October and November, were approved by the United States.

The Biden administration may very well be able to halt the selling of American oil to China given their propensity to flout the law in so many other areas. They will spy on Americans and violate their constitutional rights, but Biden always follows the rules when it comes to oil sales!

The preceding is a summary of an article that originally appeared on The Continental Daily.

Written by Staff Reports

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