The Biden White House has announced a controversial sale of gasoline from our national reserves today. There have been claims that this is a political move on Biden’s part as he heads into the 2024 election cycle, which is definitely true. After all, Biden’s track record on gas prices has been abysmal to say the least.
Reportedly, the administration is planning on selling off one million barrels of gasoline from the U.S.-managed stockpile in northeastern states, confirmed by Reuters yesterday. The Biden administration also announced this morning that the Office of Petroleum Reserves will begin taking bids for the gasoline, with these bids having to be delivered no sooner than June 30.
Apparently, the sale was mandated by law, as the current administration claims. The sale is going ahead because refined gasoline has a shorter storage life compared to unrefined oil. Shockingly, the administration is attempting to ‘spin’ this news, claiming that this reserve can actually be beneficial in lowering gasoline prices, with summer just around the corner. Biden, however, is obviously cutting it short, leaving a bitter aftertaste in the months prior to the election.
In fact, with the significant drop in the quality of life for Americans ever since Biden took control, who would even consider investing again in a country headed by a politician so receptive to harmful economic policies? After all, it is thanks to Biden’s disastrous policies that Americans are heading down a disastrous path known as ‘Bidenflation’. This term accurately depicts the situation; instead of the American dream, which should have a significant upward trajectory, Americans are struggling to make ends meet and pay their bills under the Biden regime, and the middle class is slowly slipping away because of these economic hardships.
President Donald Trump had a lot to say on this subject, too. He explicitly mentioned that ‘high gasoline prices are not good for the election’ while commenting in the state of New York. This is yet another example of how Biden is willing to stoop so low as to create this illusion of decreasing gas prices, along with rattling that famous ‘Trump cup of tea’.
In addition to President Trump, Republican Tennessee Senator, Mike Lee now too, has expressed his discontent at the news of this sale. He has been quoted as saying, “Releasing a million barrels of gasoline from the Northeast Gasoline Reserve will only result in fail results”. He went further to say, “Biden’s seize on America’s emergency fuel is not designed for elections, yet it repeats the failed policies of inflation”.
Not surprisingly, Republican Senator of Tennessee, Marsh Blackburn firmly castigated the announcement as well, saying “Releasing one million barrels of gasoline from the reserve in the North East is not a quick fix from Joe Biding’s high race fixes in election times. The sale was supposed to cater to emergencies, not a face saver for Biden’s spoiled economic policies that are running the nation dry”. Marsh pointed out bitter truths; figures don’t lie, Senators do. Travel around the country, and it’s your call.
Furthermore, considering the margin issue, Tim Evans, an independent analyst at the Evans on Energy claimed that if the sale is to benefit Biden’s white house, the relief won’t last very long. However, this is just another smokescreen according to him. Later adds that the added margin of commercial inventories could reduce the market forces; noting that it’s just a hypothetical analysis. I’ll drink to that, in a verbal amnesty.
“Everything [Biden’s] done has been very bad for our country.”
President Trump slams Biden for releasing 1 million more barrels from the strategic oil reserves to artificially lower gas prices ahead of the election.
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— Real America’s Voice (RAV) (@RealAmVoice) May 21, 2024
We have solid indication that the impact on the American health market will only last fleetingly. The sale was supposed to be a quick fix by the white house – obviously Biden’s decision is still aimed to gain political leverage, which won’t benefit the current state of the American economy. On that basis, consumers should know the many unseen consequences of this combined with the power of this one-off sale, as there’s nowhere to go after this return.