When Joe Biden became President, the price of crude oil was about $52 a barrel.
Once Biden signed a series of executive orders essentially blowing off our domestic oil production, thus moving us from energy independence to energy dependency, oil prices rapidly jumped upward, to a high of about $116 a barrel in June of 2022.
To create the illusion that he was doing something about the higher oil prices (thus higher gas prices, thus higher cost for everything that is transported to market by oil-using vehicles, etc. etc. etc.), President Biden started releasing our Strategic Petroleum Reserve (SPR). This marginally lowered prices for a short time…at the cost of putting our SPR – which is there for possible emergency situations – at a 40 year low.
Due to higher production levels by other countries – not us, since we are now energy-dependent – crude oil prices dropped back to about $67 a barrel at the beginning of 2023 – still far higher than when Biden became President.
But now, as those countries again adjust their oil production, prices are back up to about $90 a barrel – and expected to go higher. This, of course, will raise the cost of gas and everything else associated with oil accordingly. And since Biden did not replenish our SPR when prices went down, our emergency supply remains at a 40 year low.
My quick question: when the EFF do our mainstream media report this, and assign the blame for it to where that blame belongs; squarely on the shoulders of Joe Biden?
Ever?
