Monday, June 17, 2024

Biden Strategic Petroleum Reserve Draw Down

The claim has been running wild on X (Twitter) and via the apologist media that Biden has proven to be a brilliant oil trader because he sold oil at Price X and is now buying it back at Price Y. The amount of oil his administration has repurchased is miniscule. Here's a chart straight from the source. Biden started the draw down in early 2021 and continued to try to reduce gas prices for the 2022 election. There was nothing strategic about this since there was no national emergency requiring petroleum such as a natural disaster (hurricane, flood, tornado, etc.). COVID actually suppressed fuel use. 



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