Millions Of Barrels From US Emergency Oil Reserve Sent Abroad, Including To China

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The Biden administration exported more than 5 million barrels of oil that were part of the historic US strategic petroleum reserve (SPR) release to Europe and Asia last month, including China, even as US gasoline and diesel prices hit record highs. About 1 million barrels per day have been drained from the SPR through October, an unprecedented pace and SPR inventories fell to the lowest since 1986. The US energy situation is dire and prices are set to rise, as fuel shortages hasten the destruction of our economy.

With a growing number of people realizing that the Biden administration has drained more oil from the US strategic petroleum reserve, which is meant to be used during real emergencies not fake, made up ones such as Democrats facing a catastrophic failure at the midterm elections…

… more people are starting to ask the next big question: where is this furious liquidation of US black gold going?

Courtesy of Reuters we know: more than 5 million barrels of oil that were part of the historic U.S. SPR release were exported to Europe and Asia last month, including top US geopolitical nemesis in the global arena, China, even as U.S. gasoline and diesel prices hit record highs.

The export of crude and fuel is blunting the impact of the moves by U.S. President Joe Biden to lower record pump prices. In a widely mocked call, Biden on Saturday renewed a call for gasoline suppliers to cut their prices, drawing rightful criticism from Amazon founder Jeff Bezos, because going after mom and pop gas stores merely demonstrates just how clueless the handlers of the senile presidential puppet truly are.

About 1 million barrels per day have been drained from the Strategic Petroleum Reserve through October, an unprecedented pace. The drain means SPR inventories fell to the lowest since 1986. US crude futures are above $100 per barrel and gasoline and diesel prices above $5 a gallon in one-fifth of the nation. US officials have said oil prices could be higher if the SPR had not been tapped, and for once they are right. Still, the question looms of what happens to oil prices when the US can no longer sell the SPR amid concerns of a real emergency: we know the answer and the Biden admin won’t like it.

“The SPR remains a critical energy security tool to address global crude oil supply disruptions,” a Department of Energy spokesperson said, adding that the emergency releases helped ensure stable supply of crude oil.

Citing customs data, Reuters traced that the fourth-largest U.S. oil refiner, Phillips 66 shipped about 470,000 barrels of sour crude from the Big Hill SPR storage site in Texas to Trieste, Italy. Trieste is home to a pipeline that sends oil to refineries in central Europe. Meanwhile, Atlantic Trading & Marketing (ATMI), an arm of French oil major TotalEnergies, exported 2 cargoes of 560,000 barrels each. Cargoes of SPR crude were also headed to the Netherlands and to a Reliance refinery in India, an industry source said.

What is most notable is that a third cargo headed to US arch-enemy, China, which is now directly benefiting at the expense of US consumers as a result of Biden’s escalating panic to undo the consequences of his catastrophic green policies by selling the most valuable US assets directly to Beijing!

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Lum
Lum
8 months ago

The using of our oil reserves by the USA is not profitable so its deemed by our politicians that its better to send it to other countries that will pay our politicians a kickback, that’s why we are sending it to others. Very plain to see and sadly its business as usual these days. We discover these plots, even voting cheating but no one is punished so it will be done again and again growing more brazen each time.
This result is encouraging crime.