
IPFS News Link • Oil
After killing Trump's plan, Dems to spend 5 times as much restocking oil reserve
• https://www.wnd.com, By Bob UnruhAmerica's petroleum policy under Joe Biden has been one of simple chaos.
While under President Donald Trump, the nation had become energy self-sufficient and actually was exporting, when Biden moved into the White House he immediately canceled pipeline projects, drilling projects, oil lease sales and more.
Predictably, gasoline prices surged to well above $5 a gallon and although they've receded from that stratospheric level some, American consumers still are paying thousands of dollars more for fuel annually than they did before Biden took office.
Biden, meanwhile, has begged overseas dictators to ramp up their oil production so that America could buy its energy supplies from often unfriendly dictators.
Now, a report confirms that Biden is planning to spend $90 a barrel on oil to replenish the Strategic Petroleum Reserve even though Democrats in Congress halted President Trump's plan to do that when the price was less than $19 a barrel.
Biden admin today making repurchase deals for our depleted oil reserves at mid-$90 a barrel. Phil Flynn reminds us that 2 years ago Dems refused to let Trump restock SPR reserves at $18.84 a barrel; they said it would be bailing out big oil...at $18.84!! https://t.co/bQJEThNgQl
— David Asman (@DavidAsmanfox) July 26, 2022