by Michael Shellenberger at Michael Shellenberger
For weeks, President Joe Biden has pointed to his release of oil from the Strategic Petroleum Reserve as proof that he is doing all he can to lower gasoline prices for Americans. The Strategic Petroleum Reserve is a stockpile of oil maintained by the United States Department of Energy, the largest of its kind in the world, held in underground tanks in Texas and Louisiana.
On June 22, Biden said, “I know my Republican friends claim, we’re not producing enough oil and I’m limiting oil production. Quite frankly, that’s nonsense,” said Biden. “I’ve added to that supply of oil by releasing a record 1 million barrels of oil per day from what’s called the Strategic petroleum reserve.”
But now it turns out that over 5 million barrels of that oil went to China and other nations last month, even as gasoline prices hit record highs. Some shipments went to India and others went to Italy.
It almost sounds like a conspiracy theory. Why in the world would Biden be sending American oil to China, America’s greatest geopolitical rival, at a time of oil and gasoline shortages?
But it’s not a conspiracy theory…
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