Biden Releases 50M Barrels of Oil from Strategic Reserve, Analysts Call it “Political”

The US is releasing 50 million barrels of crude oil while prices spike. It is being criticized by analysts and lawmakers alike.


President Biden announced Tuesday he will tap into the nation’s Strategic Petroleum Reserve (SPR) and release 50 million barrels of oil in an effort to “increase supply” with gas prices soaring in the United States.


reporting from the left side of the aisle




Author’s Take

Biden’s move is purely political. The amount released is a pittance compared to the needs of the American economy. It’s another example of politicians “doing something” but not actually doing anything that yields results, only headlines.

Oil is, enough oil sold in other nations does have a more likely effect of driving down prices in the United States, if it were anywhere close to enough, which this is not.

Granholm’s blunder is just one of several gaffes she’s made and controversies in which she’s embroiled lately. Granholm, like Vice President Kamala, either needs to get serious about media training or a better staff.

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© Dallas Gerber, 2021