President Biden’s attempt to tap into America’s emergency reserve of oil last year went over like a lead balloon.
In fact, in a presidency filled with an almost immeasureable amount of failures, that decision stood out above the rest as one of the worst.
Now, he’s doing the exact same thing again.
On February 24, Joe Biden announced that he would “elevate the amount of oil that will be released from strategic reserves, according to Breitbart.”
“We are actively working with countries around the world to elevate collective release from the strategic petroleum reserves of major energy-consuming countries and the United States will release additional barrels of oil as conditions warrant.”
Biden offered just about zero explanation as to how this experiment would go any better than when he tried it last year.
His previous experiment had little to no effect on oil prices, despite depleting some of what we had in reserve.
That reserve currently sits at about 580 million barrels of oil.
About 20 million gallons is consumed per day in America, with 8.3 million of those barrels coming from abroad.