Biden’s Blunderous Barrels

Biden’s Blunderous Barrels

May 14, 2024

The Biden Administration, shrouded in hypocrisy, stated that they will raise the price in which they will be willing to pay to refill our strategic oil reserves. 

As Bloomberg reported,  

“The Energy Department said in a filing that it will pay as much as $79.99 a barrel for oil, the first time the administration has set an explicit price ceiling.”

This comes at a time when The Biden Administration has drained the strategic petroleum reserve (SPR) in an attempt to offset rising oil prices that were caused by his anti-oil, eco-left policies. Not only is the Biden Administration using tax dollars to try and correct a problem they created, but they are doing it after Congressional Democrats criticized the Trump Administration for trying to bolster our SPR at a much lower price. 

Daniel Turner, Founder and Executive Director of Power the Future, commented

“DOE stated that purchasing oil at around $79 per barrel is a ‘good deal for taxpayers.’ Reminder: Democrats blocked President Trump from refilling reserves at $24 per barrel.”

When Congressional Republicans and the Trump Administration attempted to augment our SPR, Senate Democratic Leader Chuck Schumer urged his colleagues to block the initiative as it was merely a “bailout for big oil.” Due to the democrat’s hypocrisy, American taxpayers are now on the hook for an additional $55 per barrel. 

Refusing to increase our SPR years ago was a bad move. Enacting policies that hurt domestic oil production was a bad move. Draining our SPR to almost its lowest level in 40 years was a bad move. Making the American public pay for these mistakes was a bad move. Democrats continue to make bad move after bad move.