The US is still releasing oil from the Strategic Petroleum Reserve (apparently in an attempt to keep prices down….not what the SPR was built for)
And more than 40% of the released SPR oil is sold outside the United States, not benefitting the Citizens of the US.
Also not the reason for the SPR….
Interesting, innit?
If you can’t see they are engineering the next crisis (and engineering it to be worse than the last several), you’re not paying attention, and not bright enough to play this game…
I noticed it, and I doubt you did until I pointed this part out.
Don’t assume the rest of us are not “Bright”. Most are brighter than you appear to be most of the time.
Your comment is insulting to many of the readers, and to me.
The strategic oil reserve was created when the U.S. was dramatically reliant on foreign imports of oil. The fear was an embargo at a crisis point.
We are now a net exporter of oil. Given the war we created, it makes sense to stabilize oil prices until the war is resolved and the distribution problems are resolved. I won’t fault the current use. Of course, it was also opened after Biden shut down some of the oil exploration, but then he sent much of it to the Chinese.
I have to agree with John on this one. Stability is good, and we really don’t have an oil crisis like we did in the 70s.
As long as we have an administration in place that is pro drilling of our own oil this is not a bad thing – Selling our oil, whether it is from the SPR or directly out of the ground creates US jobs and puts cash into our economy. I am no expert but I think selling the SPR now is good for us all around. The real problem we have in the USA concerning oil and it’s derivatives is a lack of refining. We have to import gasoline and other fuels.