{"id":1479565,"date":"2022-05-18T12:59:39","date_gmt":"2022-05-18T16:59:39","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1479565"},"modified":"2022-05-18T12:59:41","modified_gmt":"2022-05-18T16:59:41","slug":"bidens-raid-on-u-s-strategic-petroleum-reserve-leaves-it-at-lowest-level-in-35-years","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-raid-on-u-s-strategic-petroleum-reserve-leaves-it-at-lowest-level-in-35-years\/","title":{"rendered":"Biden\u2019s Raid on U.S. Strategic Petroleum Reserve Leaves It at Lowest Level in 35 Years"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbidens-raid-on-u-s-strategic-petroleum-reserve-leaves-it-at-lowest-level-in-35-years%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1479565&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/dw-wp-production.imgix.net\/2022\/05\/GettyImages-1388975071.jpg?w=1200&#038;h=800&#038;ixlib=react-9.3.0\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Now that President Biden has attempted to palliate the American public during the gas price crisis by raiding the critical Strategic Petroleum Reserve (SPR), it has reached the lowest level in 35 vears.<\/p>\n<p>At the end of March, the Biden administration announced it would release one million barrels of oil per day from the reserve.<\/p>\n<p>\u201cThe scale of this release is unprecedented: the world has never had a release of oil reserves at this 1 million per day rate for this length of time,\u201d\u00a0the White House <a href=\"https:\/\/www.cnbc.com\/2022\/03\/31\/us-to-release-1-million-barrels-of-oil-per-day-from-reserves-to-help-cut-gas-prices.html\">bragged<\/a>. \u201cThis record release will provide a historic amount of supply to serve as bridge until the end of the year when domestic production ramps up.\u201d<\/p>\n<p>\u201cThe amount of crude oil in the U.S. Strategic Petroleum Reserve (SPR) dropped by 5 million barrels in the week to May 13, data from the U.S. Department of Energy showed,\u201d <a href=\"https:\/\/www.reuters.com\/markets\/commodities\/us-strategic-petroleum-reserve-drops-lowest-level-since-1987-2022-05-16\/?taid=6282afa489369800010b1f20&#038;utm_campaign=trueAnthem:+Trending+Content&#038;utm_medium=trueAnthem&#038;utm_source=twitter\">Reuters<\/a> reported. \u201cStockpiles\u00a0in the Strategic Petroleum Reserve (SPR) fell to 538 million barrels, the lowest since 1987.\u201d<\/p>\n<p>Meanwhile the Biden administration gas been canceling oil and gas leases, including the potential to drill for oil in over one million acres in the Cook Inlet in Alaska.<\/p>\n<p>American Petroleum Institute senior vice president Frank Macchiarola called the Alaska cancellation \u201canother example of the administration\u2019s lack of commitment to oil and gas development in the U.S.,\u201d adding, \u201cThe President has spoken about the need for additional supplies in the market, but his administration has failed to take action to match that rhetoric.\u201d<\/p>\n<p>Regarding the depletion of the SPR, James Taylor, President of The Heartland Institute, snapped, \u201cJoe Biden has dangerously sacrificed America\u2019s long-term national security in exchange for a very slight, short-lived mitigation of his inflationary energy prices. Now, just a month later, gasoline prices are higher than ever, and our national energy security is in more danger than ever.\u201d<\/p>\n<p>\u201cBy draining the SPR and discouraging more oil production, Joe Biden is endangering our national security,\u201d declared Steve Milloy, former Trump\/Pence EPA Transition Team Member.<\/p>\n<p>\u201cHis purpose is to advance his climate agenda, especially with respect to pointlessly expensive electric vehicles,\u201d charged Gregory Wrightstone, Executive Director of the CO2 Coalition. \u201cIt is imperative that voters return a new Congress that has the power and will to stop Biden\u2019s climate agenda.\u201d<\/p>\n<p>The American Petroleum Institute has <a href=\"https:\/\/www.api.org\/oil-and-natural-gas\/energy-primers\/gas-prices-explained#:~:text=The%20primary%20factors%20impacting%20gasoline,gasoline%20retailers%20pay%20to%20distributors\">estimated<\/a> that global crude oil cost is responsible for 61% cost of gasoline and that another 14% can be attributed to refining costs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Now that President Biden has attempted to palliate the American public during the gas price crisis by raiding the critical Strategic Petroleum Reserve (SPR), it has reached the lowest level<\/p>\n","protected":false},"author":498,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1479565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1479565","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/498"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1479565"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1479565\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1479565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1479565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1479565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}