The Washington Times reports…
The U.S. has allowed more than 5 million barrels of oil from the Strategic Petroleum Reserve to be exported to Europe and Asia, a move that contradicts President Biden’s statements about trying to bring down the cost of soaring prices at the pump.
The exports are part of a broader and historic release of 1 million barrels per day through October from the reserves, one of several efforts by Mr. Biden to blunt high fuel costs that have had minimal impacts.
Phillips 66, one of the country’s largest oil refiners, has shipped roughly 470,000 barrels from a reserve storage site in Texas to Italy, according to Reuters. Atlantic Trading & Marketing, part of French oil company TotalEnergies, exported more than 1.1 million.
The outlet reported that U.S. crude from the reserves was also bound for the Netherlands, India and China.
In total, Mr. Biden plans to release up to 260 million barrels of oil from domestic reserves from October 2021 through October 2022. There were roughly 618 million barrels at the end of September 2021. The reserve is expected to be depleted to less than 400 million, the lowest since 1984…
Fox News host Tucker Carlson shreds believes that President Biden should be impeached for the Administration’s reckless energy policies, as Americans struggle with high inflation and gas prices. Watch:
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