Biden Drains US Strategic Oil Reserve To Lowest Since 1986; UAE Warns Not To Expect Any Help From OPEC

True Pundit June 28, 2022

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Continuing to do the same action and expecting different results is the Einsteinian definition of insanity… but that hasn’t stopped the Biden administration in the case of its attack of his oil/gas prices.

This morning, despite DOE’s servers being reportedly fried, they managed to report that the US released 6.9 million barrels of crude from its Strategic Petroleum Reserve (SPR) last week (~985,000 b/d).

As Bloomberg’s Javier Blas notes, the latest weekly release has pushed the SPR below the 500 million barrels mark for the first time since 1986…

And as the chart above shows, the plummeting SPR is not having the impact on prices that President Biden hoped (which explains why he is blaming everyone and everything else for the rise in gas prices – as it becomes clear it’s a refining capacity issue as much as anything else). – READ MORE

Categories: News

Hot Wire — They Warned You About this Crew 250+ Years Ago

***************************** SUBJECT: HOMELAND SECURITY AND DOD MEETING STAFF: Chief, Deputy Chiefs of Staff, Steven Munoz, Troup Hemenway, and Joseph Guy, Acting Director of ICE, Todd Lyons, CBP Commissioner, Rodney Scott, Liaison Officer, DoD, Philip Hegseth ATTENDEES: Pete Hegseth, Secretary of Defense General Dan Caine, Chairman of the Joint Chiefs of Staff General Gregory Guillot, NORTHCOM…

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Mike August 2, 2025

Hot Wire — Back to the Future (2008-09) (2020-21) & How to Beat The Man Thru 2035

************* Let’s do an exercise I’m a middle class American. where can I expect to be in 10 years. provide a year by year breakdown what will happen to my assets. I have 400,000 in the bank As a middle-class American with $400,000 in the bank, your position in 10 years (by 2035) will largely…

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Mike September 25, 2025

(FREE) PAINE IN THE MORNING: 11 things you need to know this Tuesday – June 28, 2022

There is also a full, ad-free video podcast of this broadcast available to Paine.TV members HERE. Learn more about joining our community HERE. Is the Green Agenda…

True Pundit June 27, 2022

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(PREMIUM) PAINE IN THE MORNING: 11 things you need to know this Tuesday – June 28, 2022

There is also an ad free audio version of this episode you can listen to HERE Is the Green Agenda Being Forced Upon Us by Accident? – The Left hates oil and gas, beef (and chicken, and all meat), and coal. But millions of Americans don’t believe the hysterical Leftist claims that these things are…

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True Pundit June 27, 2022

HOT WIRE — Transcript IC U (Part 2)

TRANSCRIPT from previous show 00:00:01,300 –> 00:00:46,840 Welcome back, folks. Hotwire, and we’re doing… I got this weird glare, like almost like a lightning bolt that’s coming down from heaven right through the middle of my head. So trying to, uh, stop that glare, and, uh, hopefully we did it. But anyway, maybe it’s a,…

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Mike March 2, 2026

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