Joe Biden’s Energy Department on Monday announced its intention to purchase up to three million reserve barrels as a “continuation” of the president’s “replenishment strategy.” So far, however, that “strategy” has seen the Democrat fail to purchase a single barrel of reserve oil. The administration first tried to purchase three million reserve barrels in December, when Biden kicked off his “plan to replenish the SPR.” One month later, Biden’s Energy Department revealed it had rejected all offers it received to purchase the oil because those offers “were either too expensive or didn’t meet the required specifications.”
Republicans have hammered Biden for his management of the reserves, which sit at their lowest levels in four decades after the Democrat last year sold 180 million reserve barrels in an attempt to lower gas prices ahead of a difficult midterm election.
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[ Editor’s Note: In 2 years the U.S. has gone from a net EXPORTER of oil and gas to being dependent on imports. This is extremely dangerous for the nation. If a major conflict kicks off with the U.S. as a participant, or one shuts down a sizeable portion of the imports upon which we rely, the U.S. is in big trouble. ]
