The Biden Administration has once again tapped the Strategic Petroleum Reserves (SPR) —this time, it’s selling 20 million barrels of much-needed oil to other countries.
From Fox News:
This makes the fifth such sale that President Biden has authorized. The White House continued to blame “disruptions posed by Russia’s invasion” for the high prices while claiming that the Biden administration’s actions are making a tremendous difference.
“In fact, the Department of the Treasury estimates that as a result of these drawdowns both domestically and internationally, the price at the pump for Americans is up to about 40 cents per gallon lower than it otherwise would have been,” the White House said in its announcement.
While gas prices are down significantly since a recent national average price of more than $5 per gallon in June, the average as of Tuesday was still $4.327, compared to $3.156 from one year ago, and approximately $2.39 when Biden first took office in January 2021.
“The American people deserve answers as to why our emergency energy reserves are being sent to foreign adversaries like the Chinese Communist Party, compromising our energy security and national security,” House Energy and Commerce Committee Ranking Member Cathy McMorris Rodgers told Fox News Digital in a statement.
Continue reading over at Fox News:
This is the Biden administration's fifth announced sale of oil from the Strategic Petroleum Reserve https://t.co/keqTihyVfA
— Fox News (@FoxNews) July 26, 2022
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