America's emergency oil stockpile is at a 38-year low but it's still got firepower left | CNN Business

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The Strategic Petroleum Reserve is at its lowest point since June 1984

Presidents don’t have magic wands to make inflation disappear. But they do have a powerful tool that can help ease the pain of high gas prices: The Strategic Petroleum Reserve. More than any of his predecessors, President Joe Biden has aggressively leaned on this emergency oil stockpile to knock down the high pump prices that voters despise.

” Midterm elections loom Kloza said he thinks there is a better than 50/50 chance that gas prices drop back down to their recent low of $3.67 a gallon. But rather than crediting US policy, Kloza cited market forces, recession fears and the reopening of refineries sidelined by maintenance. “I don’t think they need to do anything until 2023. The market is doing most of the work for the White House,” Kloza said. “I think gasoline is destined to go lower.

 

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StopHazaraGenocide

Literally 1984

To help Americans weather the storm! DUH!

You guys ought to be calling bullshit on this pandering... this is NOT an emergency. Now... finish the pipeline and we'd always have a reserve to tap.

DemocratsDeliver

Got a Topic Since Biden took office, stocks like XOM Exxon Mobile are up 323%. Never in history has it been more profitable to invest in OIL

Biden is using the US strategic reserves for political reasons!

draining our petroleum reserve for political gain, putting the security of our nation at rush, is an impeachable offense !

YAWN...OPEC TRYING TO INFLUENCE THE ELECTION. DEFENSE PRODUCTION ACT CAN REFILL IT ANYTIME...

Facts

NordstreamSabotage OIL GAS KEYSTONEXL BIDENCRIMEFAMILY

Also, this. What a shit headline. 'Biden will announce that the administration intends to repurchase crude oil for the emergency reserve when prices are at or below between $67 and $72 per barrel.'

We're fighting a war. It's gonna get used. Next.

Biden is a disaster

GAS OIL

Joe Biden is a criminal.

Yes and Biden’s going to take more. Using emergency oil reserve is like using credit card to pay bills. Drill. Frack. Make US energy independent again. We have it. It’s irresponsible to not use it.

It is low because Biden is releasing it to lower your gas prices

GAS SaudiArabia BidenDeliversAGAIN

Biden is making this country weak

so all the money supposedly spent on reserve we are almost out and we just pinch it!!!!!!!!?! it’s not the amount that left that should in rage you it should be the greatest Heist in American history

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