ABC News reports that Biden is releasing 1 million barrels of gasoline from a Northeast reserve to lower pump prices. It’s shameless vote-buying.
The administration is destroying the foundation of our gas, oil, and coal sectors. It has caused price increases and inflation. Therefore, the administration has to lower prices to get Democrats re-elected. So, once again, the administration will release emergency reserves.
It’s a trick to get re-elected. The administration uses the United States emergency reserves as a Democrat campaign fund.
CNBC reports:
- The Department of Energy said the release is being timed to maximize the impact on prices at the pump this summer.
- The gasoline will be sold through a competitive bidding process to retailers and terminals, according to the DOE.
- Gasoline futures have rallied 19% this year as oil prices have risen. They say it’s due to OPEC cutting production and war fears in the Middle East.
It’s not only OPEC. It’s what Biden’s administration is doing to the energy sector with regulations, rules, and executive orders. OPEC is cutting production because of policies this administration has set that have upended the world order.
It’s another shameless vote-buying scheme.
The AP reports:
The Biden administration said Tuesday that it is releasing 1 million barrels of gasoline from a Northeast reserve established after Superstorm Sandy in a bid to lower prices at the pump this summer.
The sale, from storage sites in New Jersey and Maine, will be allocated in increments of 100,000 barrels at a time. The approach will create a competitive bidding process that ensures gasoline can flow into local retailers ahead of the July 4 holiday and sold at competitive prices, the Energy Department said. The move is intended to help “lower costs for American families and consumers,″ the department said in a statement.
Gas prices average about $3.60 per gallon nationwide as of Tuesday, up 6 cents from a year ago, according to AAA. Tapping gasoline reserves is one of the few actions a president can take by himself to try to control inflation, an election year liability for the party in control of the White House.
Emergency reserves are for emergencies. It is not Biden’s re-election war chest.
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