Warmonger Joe decided to counter high crude prices due to NATO barking at Russia tied to the Russia-Ukraine war thereafter, by opening the Strategic Petroleum Reserve floodgates. Problem? As I knew myself, and Biden has yet to admit, US refinery capacity limitations mean much of that is going overseas.
Yep, we've drained the SPR by 20 percent and counting
for that. Now the oil gurus note what I already note, that "oil is
fungible." Yeah but strategic reserves are not. OTOH, per the second
link, from Fox Biz, how many of you GOP wingnuts actually support the Goldilocks Three Bears on peace talks now? And, it is GOP wingnuts ranting that some of this oil is going to China.
Read more about the SPI, including previous sales or releases, at Wiki. (Oil from there has been sold before for deficit reduction; the GOP wingnuts who supported the Trump tax handouts to the rich that swelled the deficit won't tell you that.)
Strategery! Abounds with both duopoly parties, once again!
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