{"id":1541757,"date":"2022-07-06T15:35:04","date_gmt":"2022-07-06T19:35:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1541757"},"modified":"2022-07-06T16:15:16","modified_gmt":"2022-07-06T20:15:16","slug":"report-oil-that-biden-released-from-us-strategic-reserves-ended-up-in-china","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-oil-that-biden-released-from-us-strategic-reserves-ended-up-in-china\/","title":{"rendered":"REPORT: Oil That Biden Released From US Strategic Reserves Ended Up In China"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/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%2Freport-oil-that-biden-released-from-us-strategic-reserves-ended-up-in-china%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=1541757&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--><p>Millions of barrels of oil released last month from the Strategic Petroleum Reserve by President Joe Biden went to foreign nations, including China, according to Reuters.<\/p>\n<p><a href=\"https:\/\/dailycaller.com\/2022\/05\/06\/joe-biden-jennifer-granholm-spr-release-donald-trump\/\" target=\"_blank\" rel=\"noopener noreferrer\">Biden ordered<\/a> the release of 50 million barrels of oil from Strategic Petroleum Reserve in November,\u00a0 30 million barrels on March 1 and 180 million barrels on <a href=\"https:\/\/dailycaller.com\/2022\/03\/31\/joe-biden-strategic-petroleum-reserve-crude-oil-gasoline-prices\/\" target=\"_blank\" rel=\"noopener noreferrer\">March 31<\/a>, saying the \u201chistoric\u201d actions would ease the pressure faced at pumps. The Strategic Petroleum Reserve will continue to release one million barrels a day through October, even as the Strategic Petroleum Reserve has fallen to its lowest level since 1986, according to <a href=\"https:\/\/www.reuters.com\/business\/energy\/oil-us-reserves-head-overseas-gasoline-prices-stay-high-2022-07-05\/\" target=\"_blank\" rel=\"noopener noreferrer\">Reuters<\/a>. U.S. crude inventories are at their lowest since 2004, according to the report.<\/p>\n<p>\u201cThese releases will put more than one million barrels per day on the market over the next six months, and will help address supply disruptions caused by Putin\u2019s further invasion of Ukraine and the Price Hike that Americans are facing at the pump,\u201d Biden <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2022\/04\/21\/fact-sheet-biden-administration-responds-to-putins-price-hike-by-awarding-first-barrels-from-historic-strategic-petroleum-reserve-release-deploying-affordable-clean-energy\/\" target=\"_blank\" rel=\"noopener noreferrer\">said<\/a> in April when announcing the release.<\/p>\n<p>But it turns out millions of barrels have been sent to China and other nations, according to Reuters. <strong><a href=\"https:\/\/dailycaller.com\/2022\/04\/21\/joe-biden-strategic-petroleum-reserve-oil\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED: Is Biden\u2019s Mass Release From The Strategic Oil Reserves Even Legal)<\/a><\/strong><\/p>\n<div id=\"attachment_7467266\" class=\"wp-caption alignnone\">\n<p id=\"caption-attachment-7467266\" class=\"wp-caption-text\">FILE PHOTO: The Chinese national flag is seen in Beijing, China April 29, 2020. REUTERS\/Thomas Peter\/File Photo<\/p>\n<\/div>\n<p>Cargoes of crude oil have been shipped to the Netherlands, a Reliance refinery in India, and China, Reuters reported, citing an industry source. China and India have steadily purchased U.S. sour crude oil produced in the Gulf of Mexico, <a href=\"https:\/\/www.bloombergquint.com\/global-economics\/much-of-biden-s-oil-release-will-likely-end-up-in-china-india\" target=\"_blank\" rel=\"noopener noreferrer\">Bloomberg<\/a> previously reported.<\/p>\n<p>Matt Smith, lead oil analyst at Kpler, told Reuters that the release of the oil isn\u2019t having the intended effects.<\/p>\n<p>\u201cCrude and fuel prices would likely be higher if (the Strategic Petroleum Reserve releases) hadn\u2019t happened, but at the same time, it isn\u2019t really having the effect that was assumed,\u201d Smith reportedly said.<\/p>\n<p>Oil and gasoline prices have <a href=\"https:\/\/dailycaller.com\/2022\/05\/29\/joe-biden-strategic-petroleum-reserve-oil-gasoline\/\" target=\"_blank\" rel=\"noopener noreferrer\">increased<\/a> despite the Strategic Reserve releases. Ranking member of the House Energy and Commerce Committee Cathy McMorris Rodgers and Energy Subcommittee Republican leader Fred Upton <a href=\"https:\/\/dailycaller.com\/2022\/06\/02\/joe-biden-jennifer-granholm-strategic-petroleum-reserve-republicans\/\" target=\"_blank\" rel=\"noopener noreferrer\">demanded answers<\/a> from the Biden administration recently over how the releases from the Strategic Petroleum Reserves are giving our adversaries \u201cgeopolitical leverage.\u201d<\/p>\n<p>\u201cChina ramped up its purchases of crude oil from Russia and the United States to boost its own reserves, even as oil prices surged and President Biden called for a coordinated release,\u201d Republican leaders wrote. \u201cChina is reportedly in talks with Russia to buy even more oil for its strategic reserves, while the United States and the E.U. pledged to ban Russian imports.\u201d<\/p>\n<p>\u201cAs a result, China may now control the world\u2019s largest stockpile of oil, with total crude inventories estimated at 950 million barrels,\u201d the letter continued.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Millions of barrels of oil released last month from the Strategic Petroleum Reserve by President Joe Biden went to foreign nations, including China, according to Reuters.Biden ordered the release of<\/p>\n","protected":false},"author":74,"featured_media":1541904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1541757","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\/1541757","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\/74"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1541757"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1541757\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1541904"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1541757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1541757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1541757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}