What does that really mean?
There’s a RBDBE …*
Last week Joe Biden announced that he was going to release 50 million barrels of oil from America’s SPR (Strategic Petroleum Reserve) to help rein in gas and heating oil prices for Thanksgiving.
YAY! —Joe’s actually doing something.
I went to work the next morning thinking that something didn’t make sense about the SPR release, but… Fortunately, I had ten hours of blissful bus driving to contemplate the ramifications of Joe’s wondrous deed.
One of the first things to cross my layperson’s mind was a question. With the price of oil skyrocketing, why would a president put our collective security (the USA) at risk by squandering the SPR? We need that oil for real emergencies, not those manufactured by Biden’s ineptitude.
Then, it occurred to me that the reason he did it was simple. It’s easy. It’s also meaningless. While 50 million barrels sounds like a lot of oil to you and me, those in-the-know, know that America burns through 50 million barrels every two days, give or take 12 hours depending on things like holidays or weather conditions. When I say those in-the-know, that should include the Biden administration but obviously doesn’t.
So 50 million barrels is meaningless, and the proof is there for all to see. What’s the price of gas today? Hmmm? Biden doesn’t care whether you pay $4 or $5 a gallon at the pump. The important thing for him is being able to say that he did something. Besides, when no one is looking, the Biden administration will just buy back that 50 million barrels and Bob’s-Your- Uncle.
I promised an RBDBE, and here it is. It’s something that I haven’t heard anyone report on, so I’ll do my best to throw it out there myself.
Today, under Biden’s dysfunctional economy, the price of oil is just over $83 a barrel. Back in the summer of 2020, during the Trump economic success story, the price of oil bottomed out at just over $12 a barrel. Folks, I’m not making this up. You can fact-check it for yourself if you need to, but if you drive a car or buy just about anything, you know it’s true.
Under President Trump, we purchased oil for $12 a barrel times 50 million barrels =
Under Joe Biden, we purchase oil for $83 a barrel times 50 million barrels =
Millions to Billions: Biden’s 50 Million Barrel SPR release is meaningless from every angle except one, more inflation.
PS – At this point, we have to ask ourselves an increasingly vital question. Is the Biden administration entirely inept, or is it entirely adept—at being un-American?
*If this is your first time, RBDBE is a Random Bus Driver Brain Eruption.