{"id":1975513,"date":"2023-07-17T18:45:05","date_gmt":"2023-07-17T22:45:05","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/thanks-biden-gigantic-american-oil-caverns-sitting-empty-will-take-decades-to-refill\/"},"modified":"2023-07-17T18:48:41","modified_gmt":"2023-07-17T22:48:41","slug":"thanks-biden-gigantic-american-oil-caverns-sitting-empty-will-take-decades-to-refill","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/thanks-biden-gigantic-american-oil-caverns-sitting-empty-will-take-decades-to-refill\/","title":{"rendered":"Biden&#8217;s Contribution: Vast US Oil Caverns Empty, Slow to Refill"},"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\">20<\/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%2Fthanks-biden-gigantic-american-oil-caverns-sitting-empty-will-take-decades-to-refill%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=1975513&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--><h2>Thanks, \u200bBiden: Gigantic \u200bAmerican Oil \u2064Caverns Sitting \u200cEmpty Will Take Decades to Refill<\/h2>\n<p>One of the most\u2064 egregious\u200d things done\u2062 by the Biden administration was immediately \u2064upon inauguration to limit U.S. energy production.<\/p>\n<p>Seven\u200b days after Joe Biden swore \u2062to uphold \u200dthe Constitution, he \u2062put out \u2064an <a href=\"https:\/\/www.csis.org\/analysis\/biden-makes-sweeping-changes-oil-and-gas-policy\" target=\"_blank\" rel=\"noopener\">executive order<\/a> \u200climiting oil and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gov-greg-abbott-texas-must-fight-federal-overreach-biden-showing-extreme-hostility-to-state\/\" title=\"Gov. Greg Abbott: Texas Must Fight \u2018Federal Overreach\u2019; Biden Showing \u2018Extreme Hostility\u2019 To State\">gas leases<\/a>.<\/p>\n<p>The Biden people hadn\u2019t even put away their \u2062formal\u200c dresses and \u2063gowns from \u200cthe\u200d inauguration festivities when they told America: our party is over and so \u200bis yours.<\/p>\n<p>That despite the Trump\u200d administration\u2019s economic miracle of achieving \u200dwhat had been unattainable for\u200c some 40 \u200byears \u2014\u200c energy\u2063 independence.<\/p>\n<p>That\u2064 probably was the point for\u200b the Biden crew\u2063 \u2014 if \u2062Trump did it, it must be bad.<\/p>\n<p>Despite the \u2064general lawlessness of \u2064Biden &#038; Co., there was \u2064one\u2062 law they could not avoid \u2014 \u200dthat of supply and\u2062 demand.<\/p>\n<p>Even though a slight \u2063dip \u2062in demand occurred due \u200bto\u200c the COVID\u200d shutdowns, there was \u200dnot\u200d enough supply, and with the Biden \u200cenergy shutdown, gas \u2062prices increased.<\/p>\n<p>But,\u2064 don\u2019t you\u200c know, that\u200d was a small price to pay\u200d for saving the \u2062planet. And reversing \u200dthat villain \u2063Trump.<\/p>\n<p>Besides, \u2064the Bidenistas purred, we\u2019re\u200c pushing a whole \u2064new fleet of\u2064 electric \u200dvehicles you\u2019re going\u200c to love.<\/p>\n<p>So pay more for \u200cthe greater\u200c good. Save the planet. Forget Trump. And welcome to\u200d Golf Cart Nation.<\/p>\n<p>Except that paying more \u2062was\u200c turning out\u2064 to be significant\u200b money for the voters, \u2063er, consumers.<\/p>\n<p>Monthly gas\u2062 costs could be approaching monthly car payments. \u200cAnd even Democrats \u200ccould\u2062 see something \u2064happening \u200dout in\u200b the swamps \u200band cornfields of Middle \u2062America\u2064 that could be\u200c a\u200b threat.<\/p>\n<p>So the Biden people \u2062came \u200cup with a solution \u2014 bring \u200cgas prices down by \u2063increasing supply by\u200b tapping\u200b the nation\u2019s Strategic\u2063 Petroleum Reserve.<\/p>\n<p>But think about the first\u200d and \u2064third words of \u200dthat. \u200dStrategic \u200d\u2014 as\u200b in needed \u2064to fuel\u2064 military for\u200d war or \u200dto keep \u200bthe nation\u2064 running in the event of\u200c a petroleum \u200ddistribution disaster \u2014 and\u2062 Reserve, which means just that, a supply\u200d kept\u2063 back \u2064in\u2063 reserve.<\/p>\n<p>Begun after \u2063the\u2064 1970s Arab\u2064 oil embargo, the reserve stabilized \u2062U.S. \u200b<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oil-in-high-demand-as-biden-tries-to-maneuver-around-bad-energy-policies\/\" title=\"Oil in High Demand as Biden Tries to Maneuver Around Bad Energy Policies\">oil supplies<\/a> in 2005 when Hurricane Katrina disrupted Gulf\u200d Coast producers.<\/p>\n<p>It was not designed as a strategic way for Democrats to reserve votes for themselves when <a \u200bhref=\"https:\/\/www.westernjournal.com\/height-hypocrisy-bad-policy-biden-gets-hammered-greenlighting-oil-drilling-abroad-killing-home\/\" target=\"_blank\" rel=\"noopener\">their policies threaten<\/a> to <a\u200c href=\"https:\/\/www.westernjournal.com\/bidens-dark-winter-looming-horizon-oil-reserve-plummets-1985-levels\/\" target=\"_blank\" rel=\"noopener\">impoverish<\/a> the middle \u200cclass and decimate\u200d the\u200c poor.<\/p>\n<p>So \u2062the \u200dBiden administration tapped the\u2063 reserves \u2064and \u2063<a href=\"https:\/\/www.westernjournal.com\/no-joe-biden-dipping-oil-reserves-wont-fix-prices-will\/\" target=\"_blank\" rel=\"noopener\">whether\u2062 or not that was \u200bthe \u2062reason<\/a>,\u2063 gas prices \u2063halted their climb. They \u2063also\u200b used reserve petroleum\u200b to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/thanks-biden-gigantic-american-oil-caverns-sitting-empty-will-take-decades-to-refill\/\" title=\"Biden's Contribution: Vast US Oil Caverns Empty, Slow to Refill\">offset market disruption\u200b caused<\/a> by the war in Ukraine.<\/p>\n<p>In all\u2064 of \u200bthis, Democrats presumably hope people forget that\u200b under Trump gas pump prices \u200cat one time approached, according\u200b to some rough calculation I did, their early\u200d 1970s levels, when \u2062adjusted for inflation. \u200c(I know, economists, petroleum\u2064 was a big factor in\u2064 inflation, \u200cbut work with me on the general idea).<\/p>\n<p>I\u2019m \u2063sure\u2063 there\u2019s also \u200dhope that the public \u2062is not\u200c aware\u2062 that not all the petroleum was distributed to \u2064the U.S., \u2064but some was exported, \u200bincluding to a Chinese company \u200dwith <a href=\"https:\/\/www.westernjournal.com\/bidens-caught-joe-sold-950000-barrels-us-oil-chinese-company-hunter-big-tie\/\" \u200btarget=\"_blank\" rel=\"noopener\">ties to Hunter Biden<\/a>.<\/p>\n<p>But now\u200d there\u2019s another problem. \u2064If we\u2019re not producing\u2063 oil \u2063like we did, \u200dand there\u2019s\u2064 still\u2062 consumer, military \u200cand\u2064 industrial\u2064 demand for it,\u200d <a href=\"https:\/\/www.westernjournal.com\/experts-warn-take-decades-refill-strategic-reserve-drained-biden\/\"\u2064 target=\"_blank\" rel=\"noopener\">how are\u2062 we\u200c going to refill<\/a>\u200d the \u200dStrategic Petroleum\u200b Reserve?<\/p>\n<p>Did anybody think of \u200cthat?<\/p>\n<p>According to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-07-17\/massive-us-oil-caverns-sit-empty-in-threat-to-energy-security#xj4y7vzkg\"\u200d target=\"_blank\" rel=\"noopener\">Bloomberg<\/a>, giant Gulf Coast caverns that are supposed to be holding that\u200d reserve\u2062 oil are <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-town-hall-speech-raises-questions-over-his-fitness-for-office\/\" title=\"Biden town hall speech raises questions over his fitness for office\">half empty<\/a>.<\/p>\n<p>While \u2063the \u200dBiden administration\u2064 siphoned off 180 billion barrels in about six\u200c months,\u2063 it will take decades\u200c to refill.<\/p>\n<p>Worse, it may\u200b not\u200b be possible to\u2064 replace that reserve\u200d supply, at \u200cits \u200dlowest level in\u2063 40 years \u2062and exhausted \u2063to the point\u200b its\u200c reserve capability is only \u200cgood for about 18 days.<\/p>\n<p>And, \u2064Bloomberg reported, that\u200b oil Biden \u2062snatched\u2063 had\u2062 initially been put in\u2063 the reserve at a cost \u200bof $29.70\u200d per\u200b barrel; now\u200c it\u2019ll \u200c<a href=\"https:\/\/www.westernjournal.com\/biden-says-refilling-oil-reserve-70-barrel-will-make-money-never-forget-dems-trump-2-years-ago\/\" target=\"_blank\"\u200d rel=\"noopener\">cost about $75<\/a> \u200cper barrel\u2062 to replace.<\/p>\n<p>One \u2062more thing\u2063 \u2014\u200b the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oil-biden-depleted-from-u-s-strategic-reserve-is-heading-overseas\/\" title=\"Oil Biden Depleted From U.S. Strategic Reserve Is Heading Overseas\">salt caverns<\/a> used for the petroleum reserve\u2064 have, in effect, an expiration \u2064date. They\u2019re\u200d past their\u2062 25-year\u200d life\u2063 and\u200d are \u2063only\u200c good \u2063for \u200cfive \u200ccycles of\u2064 emptying\u2062 and refilling, according \u2064to\u200b William \u201cHoot\u201d \u200dGibson, once the system\u2019s project\u200c manager.<\/p>\n<p>Yet, Benjamin Salisbury, \u200cresearch \u200cdirector at\u2062 Height Capital Markets, expressed skepticism about whether the\u200d reserves need\u200d to\u200c be\u200b refilled.<\/p>\n<p>\u201cDo we \u2062really \u2064want\u2063 to spend \u2063$7 billion \u200cor $8 billion to \u2062refill the \u2064SPR\u2064 if we are\u200c still perfectly capable of producing our own \u2064oil?\u201d according \u200dto Salisbury.<\/p>\n<p>Perhaps. But in light of the COVID disruptions to \u2062the \u200cjust-in-time\u200b concepts of \u2062supply chain\u2062 management, \u200dthe\u200b petroleum reserves\u200c need to be a priority.<\/p>\n<p>We\u200c are\u2064 no longer in \u200da\u200d 2019 world and \u200bneed to\u2063 act accordingly. More so when Democrats\u200b are in charge.<\/p>\n<p>The \u200cpost \u200d<a\u200c rel=\"nofollow\" \u200dhref=\"https:\/\/www.westernjournal.com\/thanks-biden-gigantic-american-oil-caverns-siting-empty-will-take-decades-refill\/\">Thanks,\u200b Biden: Gigantic American Oil\u200d Caverns \u2063Sitting\u200d Empty Will Take Decades\u2064 to Refill<\/a> appeared first on\u200c <a \u2063rel=\"nofollow\" \u200dhref=\"https:\/\/www.westernjournal.com\">The Western Journal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of Biden administration&#8217;s most egregious acts was swiftly restricting U.S. energy production after inauguration. Just a week into his term, Biden issued an executive order curtailing oil and gas leases, disregarding his oath to uphold the Constitution. This move occurred before the Biden team even had a chance to store away their formal attire.<\/p>\n","protected":false},"author":2018,"featured_media":1975514,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-1975513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1975513","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\/2018"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1975513"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1975513\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1975514"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1975513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1975513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1975513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}