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U.S. strategic petroleum reserves have fallen to their lowest levels since 1985 as Biden bids to curb gas prices

https://sputniknews.com/20220629/us-strategic-petroleum-reserve-dips-to-lowest-level-since-1985-amid-bidens-bid-to-tame-gas-prices-1096805455.html

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Gas, Strategic Petroleum Reserve (spr), Gasoline, Crude Oil, Oil, Biden Administration

The Biden administration began using 1 million barrels of oil per day from its reserves in March, breaking records and trying to capture gas prices that have skyrocketed to more than $ 5 a gallon. Biden attacked opposition Republicans by condemning the crisis of greedy oil companies and Vladimir Putin and questioning their patriotism.

Strategic petroleum reserves, maintained by the US Department of Energy and intended for emergency use, have fallen to levels not seen since 1985. data is showing.

According to inventory figures as of June 24, 2022, SPR has a total of approximately 497.9 million barrels of oil (bbl), 234.43 million barrels of oil, and 263.5 million barrels of sour. According to the data, the reserves decreased every month for 6 consecutive months, 5.4 million and 9.4 million barrels in January, February and March, respectively, and 18.4, 24.1 and 25.2 in April, May and June, respectively. Reduced by one million barrels.

According to the US Energy Information Administration recordSPR fell below 500 million barrels in 1985.
EIA is about the United States 19.78 million A barrel of oil per day. This means that if for some reason all oil production and imports are stopped, the country now has enough oil to last 25.17 days.

Held primarily at large oil storage facilities in Texas and Louisiana, the SPR was held in 1975, following the 1973 OPEC oil ban targeting countries that supported Israel in the Yom Kippur War against Egypt and Syria. Was created in. The President reserves the right to release reserves from SPR in the event of a “serious energy supply disruption” that threatens the economy or US national security.

“Be careful, maybe we need to get inside”: Aide Biden interrupts Macron and discusses oil production with POTUS
President Donald Trump has promised to “top” the reserve in the spring of 2020, when oil prices plummeted and temporarily sank into the territory of unprecedented negative prices.However, the reserves have only increased. About 4 million barrelsFrom an average of 634.9 million barrels in 2019 to 638 million barrels in 2020. In 2021, stocks fell to an average of 593.6 million barrels after the White House released 50 million barrels at the end of the year in an attempt to mitigate price increases.

In January, the Biden administration released 13 million barrels from its reserves, and in March, due to an energy emergency, the president announced plans to release 1 million barrels per day for six months. This means that reserves can be reduced to a minimum of 400 million barrels. This is the level since 1983, and we hope that domestic crude oil producers will increase production and thereby lower prices.

Joe Biden rejected all efforts to blame him and his administration for soaring gasoline prices that are soaring American wallets Because of the oil company Call a crisis “Putin’s price increase.”
On October 22, 2020, First Lady Melania Trump (left) and President Donald Trump (center) in the file photo were the former Vice President Joe Biden (right), a Democratic presidential candidate, at the end of the second and last president. Remains on stage as they leave Discussion at Belmont University in Nashville, Tennessee-Sputnik International, 1920, 27.06.2022

Why are only Trump called to lie?

Last week, the president blamed Republicans for criticizing the issue and asked if he wanted to see Putin win in Ukraine.

“Are you saying that it was wrong to support Ukraine today for all Republicans in Congress who criticize me for the high gas prices in the United States? Saying that it was wrong to confront Putin? Are you saying you want to lower gas prices in the US and Putin’s Tekken in Europe? I can’t believe it. ” Said..
Democrats have expressed concern about the impact of rising gasoline prices on the outlook in the November midterm elections, during which time all 435 seats in the House of Representatives, 35 out of 100 in the Senate, and numerous state and local affairs. For grabs where the place is pulled up.ABC News / IPSOS poll conducted earlier this month found Americans consider the economy, inflation and gas prices to be their primary concerns, and Mr. Biden’s treatment of inflation and gas prices has been approved to be only 28% and 27%, respectively.
Minnesota gas stations have expressed sympathy for their customers as the average national gasoline price in the United States exceeds $ 5 per gallon. WCCO Screen Grab-CBS Minnesota Report. -Sputnik International, 1920, 26.06.2022

Energy analysts say the U.S. can see “apocalyptic” gas prices this summer



https://sputniknews.com/20220629/us-strategic-petroleum-reserve-dips-to-lowest-level-since-1985-amid-bidens-bid-to-tame-gas-prices-1096805455.html U.S. strategic petroleum reserves have fallen to their lowest levels since 1985 as Biden bids to curb gas prices

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