Destroying America One Day at a Time: Strategic Oil Reserve at Lowest Level in 40 Years #BidenEffect

Joe Biden and Democrats are destroying America one day at a time. Ad it’s all on purpose.

Gas prices have spiked since Joe Biden took the White House in 2021.

On his first day in office, Joe Biden killed off 42,100 jobs by ending construction of the Keystone XL Pipeline and the end of construction of the Trump border wall.

The national average for a gallon of gas is $3.841 – nearly $2 a gallon increase since he took over. The price of gas has never been higher since Joe took office.

The Biden regime also shut down more pipelines last winter as gas prices were surging.

Earlier this year Joe BIden announced he would release emergency oil reserves to combat high energy prices.

Now today the US Strategic Oil Reserve is at its lowest level in 40 years.

Trump built up the reserves by purchasing gas when the price was low.

Only to see Joe Biden deplete the reserves as part of his failed energy policies.

I hope they get those solar powered fighter jets online soon!

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TinyViolins · 31-35, M

It's amazing how many people fail to understand macroeconomic forces. Gasoline prices always follow crude oil prices, and looking at any graph of gasoline prices will show you that prices started to rise before Biden ever took office.

The pandemic drastically saw crude oil production get cut by unprecedented amounts, but a quick rebound with businesses reopening created a large discrepancy between supply and demand. Any intro to economics class will tell you that when demand outweighs supply, prices tend to rise accordingly.

OPEC, Russia and other oil-producing nations on Sunday finalized an unprecedented production cut of nearly 10 million barrels, or a tenth of global supply, officials said. The agreement is aimed at boosting crashing oil prices amid the coronavirus pandemic and a price war, yet oil prices were little changed on Monday.

"This could be the largest reduction in production from OPEC for perhaps a decade, maybe longer," said U.S. Energy Secretary Dan Brouillette, who credited President Donald Trump's personal involvement in getting dueling parties to the table and helping to end a price war between Saudi Arabia and Russia.
......
A number of analysts noted that it was the first time in memory that a U.S. president had pushed for higher oil prices. That would help the U.S. frackers and other oil producers. But it could also boost the price of gas at the pump at a time when American consumers are already hurting from the coronavirus-driven economic downturn.

https://www.cbsnews.com/news/opec-deal-oil-production-cut-trump-stock-prices/

Link to a graph proving that prices rose before Biden took office:

https://www.researchgate.net/profile/Muhammad-Balbaa/publication/360074361/figure/fig2/AS:1146990696103938@1650475300888/Crude-oil-prices-increased-in-2021-as-global-crude-oil-demand-outpaced-supply-Source.ppm

Graph showing how global demand outpaced supply following OPEC's decision to slash it's crude oil production:

Link to a graph showing how gasoline prices follow crude oil prices, which started to rise well before Biden took office:

https://www.eia.gov/todayinenergy/images/2022.06.10/main.svg

MistyCee

@TinyViolins So, was it Obama, Soros or Hillary that's responsible?

I mean, I took macro, but economics was in the School of Liberal Arts, so that can't possibly be an acceptable source of information. I thought Adam Smith was a foreigner, like Marx. How can that be the answer to anything?
/S

TinyViolins · 31-35, M

@MistyCee People create villains in order to feel like the hero. Rather than attack the problem, we attack each other. People don't want to understand anything, they just want to bolster their self-image. The best way to do that is to find scapegoats