Biden administration cancels purchase for Strategic Petroleum Reserve, citing high prices

https://www.washingtonexaminer...-citing-high-prices/

The Department of Energy said it has canceled its plans to purchase millions of barrels of oil to refill the depleted U.S. Strategic Petroleum Reserve, as oil prices rise to a five-month high.

In canceling the SPR purchase, the Energy Department said it was “keeping the taxpayer’s interest at the forefront” of its buyback plan, which is to refill the depleted reserves so long as prices remain below $79 per barrel.

Prices for global benchmark Brent crude and U.S.-based West Texas Intermediate soared well higher Tuesday, with Brent prices nearing $90 per barrel and WTI climbing slightly above $85 per barrel, amid worries about supply from Russia and producers in the Middle East.

“We will not award the current solicitations for the Bayou Choctaw SPR site and will solicit available capacity as market conditions allow,” DOE officials said, adding that they “will continue to monitor market dynamics” for future refills.

Energy Department officials first announced the Bayou Choctaw purchase last month, saying they would buy up to 3 million barrels of oil.

Like other SPR caverns along the U.S. Gulf Coast, its levels remain depleted to historic lows following President Joe Biden‘s 180 million-barrel drawdown of SPR oil in March 2022, aimed at stabilizing energy costs for consumers in the wake of Russia’s invasion of Ukraine.

It was the largest one-time drawdown in the history of the stockpile. And while the sales did help alleviate prices for consumers, they also sent levels plummeting to a 40-year low and prompted concerns that a lengthy depletion period could leave the U.S. vulnerable and resource-strapped in the event of an emergency.

Wednesday’s delay could also risk putting the administration off track as it looks to meet its promise of fully replenishing the SPR by the end of the year.

More at link

Didn’t President Donald Trump have the SPR full or damn near full and at historically low prices? And look what this POS administration has done to it.

quote:

Originally posted by BOATTRASH1:
Didn’t President Donald Trump have the SPR full or damn near full and at historically low prices? And look what this POS administration has done to it.

All part of the plan, son.

quote:

Originally posted by BOATTRASH1:
Didn’t President Donald Trump have the SPR full or damn near full and at historically low prices? And look what this POS administration has done to it.

Yes. And it's hilarious that this quote is in that article:

quote:

...levels remain depleted to historic lows following President Joe Biden‘s 180 million-barrel drawdown of SPR oil in March 2022, aimed at stabilizing energy costs for consumers in the wake of Russia’s invasion of Ukraine.

The Ukraine invasion was their go to excuse for all things inflation back when they depleted the SPR, but let's be real, a good chunk of that oil ended up being sold overseas and only served to mitigate gas prices in the 2022 election run-up.

quote:

Originally posted by downtownv:

quote:

Originally posted by BOATTRASH1:
Didn’t President Donald Trump have the SPR full or damn near full and at historically low prices? And look what this POS administration has done to it.

All part of the plan, son.

Oh I understand!

More of Biden administration assault on REPs

The FBI arrested a Loudon County, Virginia, couple early Thursday morning for entering the Capitol building three years ago on January 6, 2021, according to a recent interview of the couple.

Thomas Kasperek and his wife Dr. Daphne Kasperek told America First with Sebastian Gorka in an exclusive interview on Monday that the FBI came to their home around 6:00 a.m. in cars with flashing lights, pounded on the door, and yelled for them to come out with their hands up.

Thomas said he was up, but that Daphne was still sound asleep. He said he woke her up gently and told her to call his friend Richard Ryan, who was a co-plaintiff in a case related to an election integrity case they filed in November 2022 against Loudoun County’s Electoral Board and Board of Supervisors “based on concerns that the electric voting machines were made in China.” The case was dismissed January 6, 2023, according to LoudonNow.com.

Thomas meanwhile went to open the door.

“They opened the door and stuck an M-4 in my face. They were in full gear,” he told Gorka. “About six guys at the door with their guns drawn.”

He said he asked for a warrant, but they told him they would show it to him when they got downtown.

He said they put him in hand and ankle cuffs with chains and walked him down his driveway and down the street. The FBI also did the same to Daphne. “Never, ever had anything like this happened,” she said.

They were then taken downtown to the FBI field office, fingerprinted, swabbed for DNA, photographed, and then interrogated, they said.

Thomas said it was apparent that the FBI had been building a case against them for entering the Capitol three years ago.

They were then taken to the federal courthouse and handed over to U.S. marshals, who questioned them again separately, he said.

Thomas said they were charged with four misdemeanors — entering and remaining in a restricted building or grounds; disorderly or disruptive conduct in a restricted building or grounds; disorderly and disruptive conduct in a Capitol building; and demonstrating or picketing in any Capitol building.

Thomas said they were inside the Capitol building for 12 minutes .

https://www.breitbart.com/poli...ry-6-twelve-minutes/

I know it is a day dream, but I hope the people conducting this political persecution get charged themselves someday

I should be enured to this shit by now, but each and every time I read accounts like this, it makes my blood boil. I pray for the day these evildoers face a reckoning.

https://twitter.com/RNCResearc...en-on-polls-n2637314




It is obvious. ok
notice the bobbing heads of wisdom

Back to the matter of the SPR.

Recall that FJB sold SPR oil to the ChiComs, as reported by the Institute for Energy Research (and elsewhere) -

Biden Sold China SPR Oil at a Discount - 7/22/2022

START -

Earlier this month, IER posted a blog that said the Department of Energy (DOE) sold China almost 1 million barrels of oil from the U.S. Strategic Petroleum Reserve (SPR). The real number is almost 6 million barrels of which 4 million barrels were sold to China in November 2021—before the Russian invasion of Ukraine—and at a discount to oil sold on the market. In the November sale, oil was sold on average for $63 per barrel, or over eight dollars less than the average price of oil per barrel that month.

In April 2022, the DOE sold 950,000 barrels to Unipec at $103.30 a barrel for a total of about $98 million, according to a DOE report. In July 2022, DOE sold another 950,000 barrels to China for around $119 per barrel for a total of about $113 million, according to the FY22 Emergency Drawdown No. 3A Successful Awards Report. The Biden administration is selling SPR oil to China while China is buying Russian oil at a discount despite sanctions on Russia. China International United Petroleum & Chemical Co., Unipec, chartered at least 10 tankers so far this month to transport Russian oil that is loaded from Kozmino port—a five-fold increase on the number of hired tankers booked for trade a month earlier. China spent $18.9 billion on Russian oil, gas and coal in the three months that ended in May—almost double the amount from a year earlier, according to customs data.

SPR oil is sold to the highest bidder, and some of the businesses entitled to make bids are American subsidiaries of foreign corporations like Unipec, the trading arm of the China Petrochemical Corporation, which is wholly owned by the Chinese government. China purchased that oil from U.S. emergency reserves to bolster its own stockpile for strategic use. China has been buying large quantities of oil for its reserves since the early COVID lockdowns when prices were low due to demand destruction.

Biden ordered the Department of Energy to release a total of about 260 million barrels of oil stored in the SPR over the last eight months. The SPR’s level has fallen to about 485 million barrels of oil, the lowest level since August 1985, according to the Energy Information Administration. The current level is 20 percent lower than its level recorded days prior to Biden’s first release in late November. That is in contrast to President Trump, who in March of 2020, ordered DOE to fill the SPR to its maximum capacity by purchasing 77 million barrels of American-made oil beginning with an initial purchase of 30 million barrels. While former U.S. Presidents saw the need to fill the SPR and keep it full for its intended emergency uses, Biden is showing he cares little for the national security issues related to these sales. Releasing SPR oil goes along with his promise to do away with fossil fuels.

Senators John Kennedy and Ted Cruz introduced the No Emergency Crude Oil to Foreign Adversaries Act. The legislation, if passed, would prevent future SPR sales from going to China, Russia, North Korea or Iran. The No Emergency Crude Oil to Foreign Adversaries Act would:

* Prohibit China, Russia, North Korea and Iran from receiving future SPR exports unless the Secretary of Energy produces a waiver for one of the countries. The Secretary of Energy would only produce a waiver if it was determined that SPR sales abroad would serve America’s national security interests.

* Require the Department of Energy to issue a report to Congress within 180 days after this bill becomes law outlining SPR sales made after Nov. 23, 2021. This report would detail the route oil sales took to their country of destination, who refined the oil and who owns those refinement facilities.

Biden continues to use U.S. oil and gas resources foolishly (SPR) or not at all, as illustrated by his leasing hiatus on federal lands and waters. He could get more U.S. oil production by just promoting investments to develop new fields in the United States by allowing lease sales on public lands and allowing oil and gas pipelines to be built rather than canceling Keystone’s permit or placing more regulatory hurdles on their approval via the Federal Energy Regulatory Commission (FERC). FERC is supposed to be an independent agency but it appears that the Biden administration does not know what that means.

SPR Sales

On November 23, 2021, Biden announced that the Department of Energy would accelerate the congressionally-mandated SPR release of 18 million barrels of oil and release an additional 32 million barrels. At that time, the oil price was $76.75 a barrel and the gasoline price was $3.40 per gallon—43 percent higher than when Biden took office.

On March 1, 2022, Biden announced a second SPR release of 30 million barrels. The oil price was $95.72 a barrel on February 28 and increased to $103.41 per barrel on March 1 and $123.70 a barrel on March 8—the highest oil price since the 2008 recession. The average price of gasoline increased from $3.61 a gallon on February 28 to $4.10 per gallon a week later—72 percent higher than when Biden took office. The gasoline price has not dipped below $4 a gallon since the March 1 release.

On March 31, 2022, Biden announced the largest SPR release to date, ordering the Department of Energy to release 180 million barrels of oil from the SPR between April and September. Biden predicted it would lower gasoline prices by 10 to 35 cents per gallon. The price of oil was $107.82 a barrel on March 30 and while it dropped a bit on March 31, remaining around $100 per barrel through April, it increased to $114.20 per barrel on May 16. In mid-May, gasoline prices hit multiple all-time highs and the price was $4.62 a gallon on May 31—the day after Memorial Day.

Due to demand destruction and China’s lockdowns because of its zero COVID policy, oil prices are now in the low $100 per barrel and gasoline prices in the United States as of July 19, 2022 average $4.495 per gallon–42 percent higher than a year ago and 89 percent higher than when Biden took office on January 20, 2021.

Conclusion

President Biden is hurting U.S. national security by selling SPR oil to China, who is adding those sales to its strategic reserves. Biden keeps thinking that his SPR sales are lowering gasoline prices, but after each announcement, prices went up. The current decline in gasoline prices is due to demand destruction and China’s lockdowns because of its zero COVID policy. If Biden truly wanted oil and gasoline prices to be lower he would offer legitimate lease sales on public lands and have his administration approve pipelines that are critically needed to get oil and natural gas to users. While on the campaign trail, Biden said that he wanted to end America’s use of conventional energy such as coal, oil, and natural gas. And he is doing a good job of promoting policies and regulations that will do just that.

END

And here we are now with gas at ~$3.50/gal in this area, the summer travel season approaching and a depleted SPR that FJB and his puppet-masters and minions will not be able to game the market with, I hope that the voters will place the blame for their thinning wallets squarely where it needs to be!

FJB!

Watched a bit of Varney and Co. this morning during breakfast. I was blown away by this segment. Here’s the graphic you’ll see in the video.

quote:

Arrests of Chinese Nationals Who Crossed the U.S. Border Illegally
FY 2021 — 342
FY 2022 — 1,987
FY 2023 — 24,125
FY 2024 — 22,233

6 months remain in FY 2024

Can’t seem to embed the segment from Varney. Here’s a link to his show. The video segment is called: “ Biden administration’s actions speak ‘louder than words’: Tom Homan”

Link

Seems like that alone would be sufficient reason to dramatically increase border security.

https://twitter.com/RNCResearc.../1775231958311743679

So now the biden administration doesn't support Taiwan.

https://twitter.com/Breaking91...e2iUm-EKlA_iGoA&s=19

https://www.breitbart.com/midd...nyahu-in-phone-call/

President Joe Biden demanded an “immediate ceasefire” from Israeli Prime Minister Benjamin Netanyahu in a phone call on Thursday between the two leaders, threatening a loss of U.S. support for the war if Israel does not comply.

President Biden spoke by telephone with Prime Minister Netanyahu. The two leaders discussed the situation in Gaza. President Biden emphasized that the strikes on humanitarian workers and the overall humanitarian situation are unacceptable. He made clear the need for Israel to announce and implement a series of specific, concrete, and measurable steps to address civilian harm, humanitarian suffering, and the safety of aid workers. He made clear that U.S. policy with respect to Gaza will be determined by our assessment of Israel’s immediate action on these steps. He underscored that an immediate ceasefire is essential to stabilize and improve the humanitarian situation and protect innocent civilians, and he urged the Prime Minister to empower his negotiators to conclude a deal without delay to bring the hostages home. The two leaders also discussed public Iranian threats against Israel and the Israeli people. President Biden made clear that the United States strongly supports Israel in the face of those threats.

xxxxxxxxxxxxxxxxxxxxxxxxxx


President Joe Biden on Thursday told Israeli Prime Minister Benjamin Netanyahu that the overall humanitarian situation in Gaza is unacceptable and warned Israel to take steps to address the crisis or face consequences, a stark statement from Israel’s staunchest ally.

The 30-minute conversation was the two leaders’ first phone call since an Israeli strike killed seven aid workers from the World Central Kitchen in Gaza. The killings have set off a furor inside the White House and Biden has been described as reaching a new level of frustration with Israel’s campaign.

“President Biden emphasized that the strikes on humanitarian workers and the overall humanitarian situation are unacceptable,” the White House said in a statement shortly after the call wrapped. “He made clear that US policy with respect to Gaza will be determined by our assessment of Israel’s immediate action on these steps.”

Biden also said Israel needed to “announce and implement a series of specific, concrete, and measurable steps to address civilian harm, humanitarian suffering, and the safety of aid workers.”

Speaking in Brussels after the call, Secretary of State Antony Blinken made the stakes clear: “If we don’t see the changes that we need to see, there’ll be changes in our own policy,” he said. However, neither Blinken nor National Security Council spokesman John Kirby, speaking later at the White House press briefing, detailed what those potential policy changes could be.

Kirby said the US “would hope to see some announcements of changes here in the coming hours and days – and I’ll leave it at that.”

Biden is set to green light an $18 billion sale of fighter jets from the United States and Israel and the administration recently authorized the transfer to Israel of over 1,000 500-pound bombs and over 1,000 small-diameter bombs, according to three people familiar with the matter.

The president has called for a temporary ceasefire that includes the release of hostages held by Hamas, and has repeatedly said he does not want Israel to undertake a ground invasion of Rafah in southern Gaza, where scores of displaced Gazans have sought shelter. He again called for a temporary ceasefire in the call with Netanyahu on Thursday.

“He underscored that an immediate ceasefire is essential to stabilize and improve the humanitarian situation and protect innocent civilians, and he urged the prime minister to empower his negotiators to conclude a deal without delay to bring the hostages home,” the White House said in its statement following the call.

https://www.cnn.com/2024/04/04...ck-deaths/index.html

Bibi won’t, but he should tell Biden F U. Netanyahu has too much class and is too strategic to do it but that is what Biden needs to hear.

Biden is getting to be a bigger buffoon day by day. I just caught the tail end of it on Fox Business News, Dementia Joe just said that he’s so popular with the Greeks that he’s called Bidenopolis.

quote:

Originally posted by shovelhead:
Dementia Joe just said that he’s so popular with the Greeks that he’s called Bidenopolis.

And then he stood there with that goofy grin on, waiting, as if to say, "this is where you all are supposed to applaud me. You peons."

quote:

https://www.breitbart.com/midd...nyahu-in-phone-call/:

President Joe Biden demanded an “immediate ceasefire” from Israeli Prime Minister Benjamin Netanyahu in a phone call on Thursday

Biden "demands?" We have a word for this: chutzpah

quote:

”He underscored that an immediate ceasefire is essential to stabilize and improve the humanitarian situation and protect innocent civilians, and he urged the prime minister to empower his negotiators to conclude a deal without delay to bring the hostages home,” the White House said in its statement following the call

Translated to English: his numbers with voters of Arabic backgrounds and college students are way down so it’s time to pull out all the stops to bring those back up.

And can’t lose Rashida Tilab’s support either….

quote:

He made clear the need for Israel to announce and implement a series of specific, concrete, and measurable steps to address civilian harm, humanitarian suffering, and the safety of aid workers.

More of the same. But, but but it's for the chillren schtick that the Democrats always use when the fact is these people care for nothing else but themselves, money and power. Same people tried to force everyone in the country to inject poison into themselves under great duress that is now causing people to drop dead. Biden and company do not have the slightest understanding of what humanitarian suffering even is and would have no interest in stopping it if they did. As long as it's not them experiencing any of the suffering.

Of course they didn’t

Anything to protect Dementia Joe and Buttplug and to stick it in the eye of flyover country Trump voters:

https://x.com/ap_climate/statu...027633744015838?s=46