Oh

 

thats just so brilliant...

(Thats sarcasm BTW...)

President Biden Is Planning To Release More Oil From The SPR

"The Biden administration is planning to release another 10 to 15 million barrels of crude from the strategic petroleum reserve, Bloomberg reported today, citing unnamed sources in the know. This release would be the latest in the government's 180-million-barrel program that was announced in March.

The SPR release plan will soon come to an end, but U.S. fuel prices are still climbing.

(News flash, we dont control Oil prices, the markets do.)

"Yesterday, Energy Aspects’ Amrita Sen told CNBC the Biden administration was considering releasing another 100 million barrels from the SPR, which would flood the market."

"According to one of Reuters’s sources, the release could amount to 40 million barrels from the reserve."

(So thats, 10 to 15 million barrels, or 100 million barrels, or 40 million barrels. It wont matter how much we release from the SPR, prices are going to go up and were not going to have the SPR like we need when we need it which will be in the middle of a global conflict.)

"The White House did not like $4 a gallon gas and it has signaled that it will take action to prevent that again."

($4 a gallon is when people stop spending on other things...yup, pretty much the benchmark.)

"The average gasoline price in the United States on Monday was $3.888 per gallon, down from $3.919 per gallon a week ago but up from $3.682 per gallon a month ago, according to AAA data."

Godspeed everybody...