President Biden announced on Thursday that he authorized the daily withdrawal of one million barrels of crude from the Strategic Petroleum Reserve (SPR) for the next six months. The 180 million barrels equals one-third of the current level of reserves.Â
The SPR has not been at that low a level in decades, and according to Biden, he is not sure if there will be any impact on price or supply. So, we are draining the SPR to dangerous levels with a revelation that there is no proof it will impact the cost of gas at the pumps.
It was a blaring observation by Biden, and with his track record of failed policy decisions, we are conditioned not to expect high-level performance from Biden and his team.
Biden also announced he had asked Congress to weigh the option of fining oil companies that have land leases but are not actively drilling. Along with a new round of taxes aimed at the oil and gas sector, this decision will not motivate the industry to react favorably to Biden’s plan. It is irrational to expect cooperation from an industry that Biden has marked for extinction.
Biden continues to blame the record-high gas prices on the Pandemic and Putin. He has been echoing this for weeks, but people are not buying his claim. Over 65% of Americans are putting the blame squarely on Biden. He owns it, and it will hurt Democrats in the midterms. Thus the Hail Mary of injecting 180M barrels of crude from our U.S. stockpile.
There is no clear plan with the Biden Administration. Starting on Day 1 with the stack of Executive Orders designed to appease the Radical Left, the Climate Change crowd, and negate any policy adopted by President Donald Trump, the management style has been reactionary rather than measured.Â
Unfortunately for America, none of the post-Inauguration Day decisions have yielded favorable results for the country.
This decision to use the SPR is obviously a response to the crumbling approval numbers. Inflation and gas prices are primed to doom the Democrats in November, and Biden hopes this six-month band-aid will draw down prices and ease the pain. Two factors are looming that will negate Biden’s plan.Â
The summer traveling season is two months away, and corporations are ending work-at-home options. Having workers return to the office will put commuters behind the wheel and cost them dearly to get to and from work. Inflation and fuel costs will continue to haunt Americans and Biden.
The only solution to the energy supply and cost issue will be returning to Trump-era policies. The pipeline, fracking, drilling, and stressing energy independence have to become a priority. To do so will cause the Radical Left to rise up against Biden.Â
He will not survive a simultaneous assault from the Left and Right.
Biden owns his destructive policies, and the piper wants to be paid.
