Biden Depletes U.S. Strategic Petroleum Reserve: CC Roundtable Live at Noon CT

The Heartland Institute

The Biden administration is releasing around one million barrels of oil per day from the United States Strategic Petroleum Reserve (SPR). The move is designed to ease Americans’ suffering at the pump, suffering the Biden administration solely blames on Russia.

The Heartland Institute’s Andy Singer, Linnea Lueken, Anthony Watts, and H. Sterling Burnett discuss the dwindling levels of the SPR as well as other stories the corporate media refuses to cover in this week’s episode of Climate Change Roundtable.

SHOW NOTES

Biden Depletes U.S. Strategic Petroleum Reserve

The Washington Free Beacon – Biden Sold a Million Barrels From US Strategic Petroleum Reserve to China-Owned Gas Giant
https://freebeacon.com/national-secur…

Reuters – Oil from U.S. reserves sent overseas as gasoline prices stay high
https://www.reuters.com/business/ener…

Fox Business – GOP hammers Biden for allowing emergency oil reserves to go to China: ‘compromising our energy security’
https://www.foxbusiness.com/politics/…

Real Clear Politics – Why U.S. Petroleum Reserve Oil Went Overseas
https://www.realclearpolitics.com/art…

The Corporate Media and Big Tech Continue to Push Climate Alarmism

Climate Realism – CNN Can’t Resist Mixing Climate Fiction with Truth Concerning Hurricane Research
https://climaterealism.com/2022/06/cn…

Climate Realism – LinkedIn Bans Scientist for Presenting Inconvenient Truths About CO2
https://climaterealism.com/2022/07/li…

Climate Realism – The Guardian Stumbles into the “Truthful Reporting” Trap When it Comes to Climate Change
https://climaterealism.com/2022/07/th…

Climate Realism – NPR Spreads Misinformation About Climate Change and Models (Again!)
https://climaterealism.com/2022/07/np…

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July 8, 2022 9:51 am

C’mon man! Look, fat, do we have a dog-faced pony soldier in the oval office – or what?

pete
July 8, 2022 9:57 am

Americans want oil, but do not need it.
when this happens, you horde oil and produce more.
When you need oil but do not want it, then you can release your engorged reserves.

Last edited 2 months ago by pete
Bryan A
Reply to  pete
July 8, 2022 6:44 pm

The U.S. uses about 15 – 20 million barrels of oil per day or about 100 million barrels per week. The U.S. strategic reserves (oil stored away for emergencies) totals about 568 million barrels. As such, strategic reserves stores about 5-1/2 weeks of oil given current consumption levels. Certainly a store but 5 weeks supply is hardly a horde.

Bryan A
July 8, 2022 9:59 am

And that was his entire point of releasing the strategic reserves. Not to reduce the price at the pump (as intoned) but rather to eliminate the reserve And it’s potential effect on oil pricing. What Will happen to the price of oil And thereby the price at the pump once the U.S. has no more strategic reserves?

Reply to  Bryan A
July 8, 2022 10:01 am

re: “What Will happen to the price of oil And thereby the price at the pump once the U.S. has no more strategic reserves?”

One word: Capitulation.

Bryan A
Reply to  _Jim
July 8, 2022 1:22 pm

How About Impeachment
Acting outside the best interests of the U.S. could be considered treasonous

Last edited 2 months ago by Bryan A
Doonman
July 8, 2022 10:26 am

China Joe shows his true colors.

Why would our “strategic reserve” be sold to communists? Is that a strategy?

Remember, China is buying Putin’s oil too.

Scissor
Reply to  Doonman
July 8, 2022 10:42 am

10%

Richard Page
Reply to  Scissor
July 8, 2022 4:28 pm

Yup, Hunter Biden still owns a 10% stake in BHR which is also co-owned by the Bank of China and also run by Christopher Heinz, John Kerry’s son. In addition to helping China secure oil from the USA they have also helped them secure Cobalt from the Democratic Republic of the Congo. What is it with these people and their 10%?

Richard Page
Reply to  Richard Page
July 8, 2022 5:02 pm

Sorry forgot to mention that BHR was the company that bought a $1.7bn share in the Chinese oil company that just bought the SPR oil.

Joe Gordon
July 8, 2022 10:27 am

I suppose we should give our senile president the benefit of the doubt. He read that people were upset about his cancelling the xl pipeline, and, like many people who never fully graduated from typewriters to computers, misread that as the xi pipeline.

So it’s only logical that he would send our strategic oil reserves to China. Blame this one on his handlers, not ol’ Joe.

MarkW
July 8, 2022 10:49 am

Making the US vulnerable to energy disruptions has been on Russia and China’s wish list for years.
Given how much the Biden crime syndicate has received from both sources, it’s hardly surprising that Biden is making this happen.

Richard Page
Reply to  MarkW
July 8, 2022 5:07 pm

And making more money along the way. Is that it? Is he just interested in screwing as much money as he can out of the system and damn the world and the USA?

Philip CM
July 8, 2022 11:04 am

Looks like Corn-pop is getting the last laugh on Biden. 😁

Jørgen F.
July 8, 2022 11:14 am

…We might be so lucky that Xi and Putin finally get’s workplace injuries and must take sick leaves from ROFL too much.

markl
July 8, 2022 11:34 am

Depleting the SPR by sending it to other countries can only, only, mean the intent is to help those countries and weaken the US combat readiness.

otsar
July 8, 2022 12:00 pm

SPECULATION:
When the reserves get too low, the reserves will be filled in an “emergency,” cutting off fuel to the general population.

Bryan A
Reply to  otsar
July 8, 2022 1:12 pm

You’re correct, your statement is pure speculation. It could also be hypothesized that Biden is intent on doing in Oil and starting by eliminating the strategic reserve

Walter Sobchak
July 8, 2022 12:47 pm

So what. The premise behind the SPR was that the US could not produce enough petroleum to satisfy its own needs and that a war or an OPEC boycott could cripple our economy. We now know that the premise is garbage.

If we don’t have the SPR we will have to drill in the US and build pipelines to Canada.

Tim Gorman
Reply to  Walter Sobchak
July 8, 2022 2:01 pm

“have to drill”? From who’s viewpoint? John Kerry? Nah…..

Walter Sobchak
Reply to  Tim Gorman
July 9, 2022 11:21 am

People who have to heat their houses and drive. Like 90% of us.

paul courtney
July 8, 2022 12:47 pm

The release of 1m barrels per day may seem short-sighted and reckless, but consider this- Biden admin has not released ANY of the U.S. Strategic Electricity Reserve! Doesn’t Brandon get credit for that?! C’mon, man, the press is just totally against the left.

Last edited 2 months ago by paul courtney
Bryan A
Reply to  paul courtney
July 8, 2022 1:21 pm

The sale of those same barrels to antagonist States (China) is far more reckless

July 9, 2022 5:09 am

The SPR was a government project so it is rife with incompetence and corruption. The government did not pressure test the salt caverns created for leakage and at least some of the oil purchased was “tank bottoms” that is 85% water. In short, the oil is probably not there and if they continue to produce they are about to find out.

Kramer
July 9, 2022 7:13 pm

This is STRICTLY a selfish stunt to save whatever they can in the coming november election.

That dems don’t think we see this is astounding.

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