The world experienced a devastating oil crisis in the 1970s because of the Yom Kippur War between Israel and Egypt. The United States supported Israel during the conflict resulting in the middle eastern countries cutting off America’s oil supply.
At the time, the United States was governed by people who understood international politics and business. So, they created the world’s largest oil reserves. Those oil reserves are in four locations on the coastline of Texas and Louisiana.
The reserve is designed to handle shortages in the United States. It is supposed to help American citizens should the need arise. Well, the need has arisen. However, the Biden Administration is selling off the oil to European countries, India, and China.
Instead of using the oil to help reduce gas prices here in the United States, Joe Biden is selling it off to everyone else. Including our rival China.
According to the Institute For Energy Research, Biden ordered the Department of Energy to release a total of 260 million barrels of oil stored in the SPR over the last eight months. The reserve holds about 725 million barrels.
The reserves level has fallen to 490 million barrels of oil, the lowest amount of barrels the reserve has had. The question is why would the Biden administration do that?
According to msn.com, the White House is denies that the Biden administration is funneling oil from the U.Sreserves. However, the administration says its required by law to sell off some to the highest bidder. Then they say Trump did the same thing.
It is unclear if the law requires the sale of the oil. However, it is clear gas prices are high. Americans are facing record inflation numbers. Using the oil to reduce the burden on American citizens would be the thing to do. Even if it is against the law.
The Chinese companies receiving the oil are alleged to be connected to Hunter Biden and his business associates. According to the Daily Wire, China Petrochemical Corporation, also known as Sinopec, bought the oil.
The Daily Wire went on to report Sinopec has a prior history with the Bidens. In 2013, Hunter Biden co-founded the private equity firm BHR Partners and they own a stake in Sinopec. Once again, as Jenn Psaki would say, it circles back to Hunter Biden.
The increasingly progressive Democrats are pushing for America to become a green energy-dependent nation. Biden listens to those in charge of the progressive side of the party and selling off oil reserves would make us move away from fossil fuels which are their goal.
MSN.com also reports that President Biden has “had no personal involvement” in the process of private companies selling crude oil “whatsoever.” Of course not. Nobody in their right mind thinks President Biden has a personal involvement in anything other than reading off cue cards.
It’s not a coincidence and if the Republicans win back Congress in November, there will be calls for an impeachment of President Biden. The only problem is, it’s probably not him who needs to be replaced. There is someone else pulling the strings.