Gas Prices Could Go Even Higher Under Biden’s Plan for Our National Oil Stockpile

According to a CNN report Thursday, the Biden administration will be going into the oil market in the fall to buy up tens of millions of barrels of crude oil to refill the nation’s Strategic Petroleum Reserves.

Most Americans might remember that the last time the SPR was making headlines was when Biden was doing exactly the opposite, putting oil out to bid in major releases aimed at manipulating the oil market to alleviate the pain of drivers filling up at the pump.

Like most Biden plans, that disaster blew up in his face in real-time at filling stations across the country, as the insatiable American economy took in the Biden oil releases with barely a blip on retail prices at the pump. (Think about it: Have you at any point since Biden has been in office said, “Hey, gas is cheap today”? Has anyone you know said that?)

Democrats and their propagandists in the mainstream media tried to play it as a noble effort by the all-powerful government to help its subjects, but it was really the knee-jerk reaction of a statist philosophy, pretending state power can efficiently tamper with a national market. (CNN’s report even tried to pretend the reserve has been “drained by the war in Ukraine” rather than Biden’s own actions. The propaganda never stops.)

Now, possibly realizing that the whole idea of having a Strategic Petroleum Reserve is to have a Strategic Petroleum Reserve, the Biden administration is getting back into the oil market in the autumn, this time as a buyer, which will effectively put it into competition with its own people. – READ MORE