Joe Biden on April 21 announced the largest-ever release of oil from the Strategic Petroleum Reserves, in a bid to reduce soaring energy costs.
[.]
Yet in June more than five million barrels were exported to Europe and Asia, despite the record price highs in the United States.
Phillips 66 shipped about 470,000 barrels of sour crude from Texas to Trieste, Italy.
Atlantic Trading & Marketing (ATMI), an arm of French oil major TotalEnergies, sent 1.12 million barrels.
Cargos of oil were also sent to the Netherlands, India and China and more will leave Louisiana in July.
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U.S. crude inventories are the lowest since 2004 as refineries run near peak levels.
Townhall: Biden is Selling America's Reserve Oil to Foreign Countries.
"More than 5 million barrels of oil that were part of a historic U.S. emergency oil reserves release aimed at lowering domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices touched record highs," Reuters reports. "The export of crude and fuel is blunting the impact of the moves by U.S. President Joe Biden designed to lower record pump prices.
Way to go Joe. How the baby formula shortage? Have you fixed that yet?
Hey, at least there's no mean tweets coming from the WH so...we got that going for us!
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