The Strategic Petroleum Reserve is at a 35 year low, as Joe Biden continues to sell oil that was purchased cheaply years ago to help keep prices low (they really aren’t) in a bit to help the MidTerm elections of Democrats….Of course, in the process, weakening the country should war break out. The SPR isn’t meant for keeping oil cheap, but as a strategic reserve should things get spicy in oil producing regions or other times when oil production is curtailed due to war or other military action.
(Of course, we now know that a significant amount of that SPR oil was sold through one of the companies connected to Hunter Biden…I wonder if the “Big Guy” got his 10% cut?)
Realize that the oil that was sold now has to be replaced…and with oil at high prices, that is gonna cost you and me and every other taxpayer just to return to the previous level….But hey, whatever we gotta do to help Joe and the DNC folks, AmIRite?
The sold oil does not necessarily have to be replaced. You are probably right though, it will be and at a higher cost.