{"id":1571918,"date":"2022-07-26T14:52:52","date_gmt":"2022-07-26T18:52:52","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1571918"},"modified":"2022-07-26T14:52:53","modified_gmt":"2022-07-26T18:52:53","slug":"biden-administration-to-sell-20-million-more-barrels-of-oil-from-strategic-petroleum-reserve","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-to-sell-20-million-more-barrels-of-oil-from-strategic-petroleum-reserve\/","title":{"rendered":"Biden Administration to Sell 20 Million More Barrels of Oil From Strategic Petroleum Reserve"},"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\">28<\/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%2Fbiden-administration-to-sell-20-million-more-barrels-of-oil-from-strategic-petroleum-reserve%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=1571918&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>President Joe Biden\u2019s administration plans to sell an additional 20 million barrels of oil, according to <a href=\"https:\/\/www.documentcloud.org\/documents\/22121429-notice-of-oil-sale\">a notice of the sale<\/a> filed on July 26.<\/p>\n<p>Interested parties were told to submit offers to the U.S. Department of Energy by Aug. 2 to purchase the oil, with delivery slated to take place between Sept. 16 and Oct. 21.<\/p>\n<p>The oil is part of the\u00a0Strategic Petroleum Reserve, a U.S. government facility that holds oil in caverns in Texas and Louisiana.<\/p>\n<p>Biden, a Democrat, in March <a href=\"https:\/\/www.theepochtimes.com\/biden-to-announce-unprecedented-oil-release-from-strategic-reserve_4374565.html\">authorized selling 180 million barrels of crude oil<\/a> from the reserve as part of his administration\u2019s efforts to combat soaring gas prices.<\/p>\n<p>More than 125 million barrels have been sold so far across four sales, according to the <a href=\"https:\/\/www.theepochtimes.com\/t-white-house\">White House<\/a>.<\/p>\n<p> Criticism <\/p>\n<p>Nearly 2 million of the barrels have been sold to an entity linked to the Chinese Communist Party, according to <a href=\"https:\/\/www.theepochtimes.com\/communist-chinese-firm-got-nearly-6-million-barrels-of-us-oil-reserves-through-auction-sale-records-show_4621191.html\">an Epoch Times review<\/a>, drawing criticism from Republicans.<\/p>\n<p>\u201cSending U.S. petroleum reserves to foreign adversaries is wrong, and it undermines our national security,\u201d Rep. Clay Higgins (R-La.) told The Epoch Times.<\/p>\n<p>Bidding on the oil is price-competitive, with sales going to the highest bidder.<\/p>\n<p>Unipec, the entity, has lodged a number of bids in the past, and secured nearly 2 million barrels from the recent spate of sales as well as 4 million barrels during the fall of 2021 from a separate sale.<\/p>\n<p>The sales to China could be unlawful,\u00a0Rep. Ralph Norman (R-S.C.) <a href=\"https:\/\/www.theepochtimes.com\/exclusive-us-oil-sales-to-china-could-be-unlawful-activity-gop-lawmakers-tell-biden_4623141.html\">warned the Biden administration on Tuesday<\/a>.<\/p>\n<p> Impact on Prices <\/p>\n<p>The reason given for unloading oil from the reserve is to lower gas prices, which have skyrocketed to unprecedented levels since Biden took office.<\/p>\n<p>\u201cThis is a wartime bridge to increase oil supply until production ramps up later this year. And it is by far the largest release from our national reserve in our history,\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden\u2019s administration plans to sell an additional 20 million barrels of oil, according to a notice of the sale filed on July 26. Interested parties were told to submit offers to the U.S. Department of Energy by Aug. 2 to purchase the oil, with delivery slated to take place between Sept. 16 and [\u2026]<\/p>\n","protected":false},"author":75,"featured_media":2315279,"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-1571918","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\/1571918","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\/75"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1571918"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1571918\/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=1571918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1571918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1571918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}