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Biden’s Department of Energy will not be refilling the nation’s emergency reserves, the Strategic Petroleum Reserve, any time soon as the agency has rejected bids received for the February fill since the bids are above $70 a barrel. Today’s price for Texas Intermediate oil is $75.87 a barrel. Biden depleted the emergency oil reserve of 260 […]
Average U.S. gasoline prices hit $3.89 a gallon on October 17, up about 20 cents from a month ago, 56 cents higher than last year at this time, and $1.35 a gallon higher than when Biden took office on January 20, 2021. In March, gasoline prices hit $4 a gallon and then moved up to a record $5 a […]
President Biden is depleting the U.S. Strategic Petroleum Reserve (SPR), which is currently at its lowest level in 37 years. On July 26, 2022, the U.S. Department of Energy announced an emergency sale from the reserve of up to 20 million barrels, which will go through the end of October, just prior to the mid-term election […]
It is not enough that China is buying Russian oil at a discount due to western sanctions put on Russia because of its invasion of Ukraine, but now President Biden’s Department of Energy is selling China oil from the U.S. Strategic Petroleum Reserve (SPR)—a source that is meant for national emergencies that Biden has been […]
China is surpassing the United States this year as the world’s largest refiner as government climate goals and regulation cause U.S. refiners to close facilities. China is expected to have 18.81 million barrels per day of refining capacity while the United States has 17.7 million barrels per day of operating refinery capacity and about 0.4 million barrels per day […]
Both oil and gasoline prices increased after each and every time President Biden announced the release of oil from the Strategic Petroleum Reserve. Biden clearly does not understand the oil industry, as his actions have resulted in price increases rather than the decreases he predicted. He continually blames the increases on everyone else but his […]
The White House is looking at issuing an emergency declaration that would empower President Joe Biden to release diesel from the federal Northeast Home Heating Oil Reserve to address diesel shortages on the east coast. The release, however, would provide limited, short-term relief since the reserve only contains 1 million barrels of fuel. Further, it is reminiscent […]
President Joe Biden plans to extend the availability of higher biofuels-blended gasoline during the summer to lower gasoline costs and to reduce reliance on foreign energy sources. The measure will allow Americans to buy E15, a gasoline blend that contains 15 percent ethanol from June 1 to September 15. E15 is cheaper on average than gasoline but […]
On this episode of The Unregulated Podcast, Tom Pyle and Mike McKenna discuss the latest rambling proclamations and missteps made by the Biden administration on everything from the war in Ukraine to the Strategic Petroleum Reserve. Links: Jennifer Rubin’s JFK take Reporter: “You understand why people would believe you, as someone commanding one of the […]
American Energy Alliance’s statement on President Joe Biden’s proposal to release more oil from the Strategic Petroleum Reserve. WASHINGTON DC (March 31, 2021) Today the Biden administration announced it would release 1 million barrels a day for the next six months from the nation’s Strategic Petroleum Reserve. Thomas Pyle, president of the American Energy Alliance, […]