Amid inflation and plummeting approval ratings, the Biden administration will release 50 million barrels of oil from the strategic reserve.
Think how stupid this is.
He limited pipelines because too much carbon…
But is now opening the strategic reserve.
They are all hypocrites. https://t.co/yPTbEilbpq
— Pradheep J. Shanker (@Neoavatara) November 22, 2021
Per The Hill “Of the 50 million barrels, 32 million will eventually be returned to the strategic reserve over the years ahead once fuel prices come down in a bid to ensure the reserve remains stocked, officials said.
Another 18 million barrels will be released as an acceleration of an oil sale Congress had already authorized.
Tuesday’s announcement was made in concert with China, India, Japan, South Korea and the United Kingdom, which will also tap into their own strategic reserves.”