<p>The <a href="http://dailywire.com/topic/biden-administration" target="_blank" rel="noopener">White House</a> announced on Tuesday that President Joe Biden would release 15 million barrels of <a href="http://dailywire.com/topic/oil-and-gas" target="_blank" rel="noopener">oil</a> from the <a href="http://dailywire.com/topic/strategic-petroleum-reserve" target="_blank" rel="noopener">Strategic Petroleum Reserve</a>.</p>
<p>The national average price for gasoline is currently $3.85 per gallon, according to <a href="https://gasprices.aaa.com/" target="_blank" rel="noopener">data</a> from AAA, marking a nearly 62% increase since Biden assumed office at the beginning of last year. In response to the rising prices, Biden announced in March that his administration would release 180 million barrels from the Strategic Petroleum Reserve, a stock of emergency crude oil created to manage supply disruptions in energy markets. Transactions for the final 15 million barrels will clear by the end of December.</p>
<p>“Global crude oil supply flows remain a challenge, due in large part to the ongoing instability caused by Russia’s actions in Ukraine,” the White House said in a <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2022/10/18/fact-sheet-president-biden-to-announce-new-actions-to-strengthen-u-s-energy-security-encourage-production-and-bring-down-costs/" target="_blank" rel="noopener">statement</a>. “The President is prepared to authorize significant additional sales in coming months if conditions require.”</p>
<p><b data-stringify-type="bold"><a class="c-link" tabindex="-1" href="https://www.youtube.com/watch?v=7ArBOzBgA0k" target="_blank" rel="noopener noreferrer" data-stringify-link="https://www.youtube.com/watch?v=7ArBOzBgA0k" data-sk="tooltip_parent" data-remove-tab-index="true" aria-describedby="sk-tooltip-9905">CLICK HERE TO WATCH ELECTION WIRE FOR ALL THE LATEST NEWS AND POLLING ON THE UPCOMING MIDTERMS</a></b></p>
<p>West Texas Intermediate, the American benchmark for crude oil, was nearly $85 per barrel as of Wednesday morning after a decline on Tuesday afternoon. The White House noted that officials “will not hesitate” to use the Strategic Petroleum Reserve or other tools “to shore up the global supply of energy, support domestic inventory levels, and bring prices down for Americans.”</p>
<p>Biden plans to repurchase crude oil at prices that could range between $67 per barrel and $72 per barrel. According to the White House, the move will “protect taxpayers and help create certainty around future demand for crude oil.” Two years ago, however, former President Donald Trump attempted to stabilize the energy sector by filling the Strategic Petroleum Reserve with oil priced at $24 per barrel, a <a href="https://www.dailywire.com/news/biden-could-refill-strategic-oil-reserve-at-80-per-barrel-democrats-blocked-trump-when-oil-was-24" target="_blank" rel="noopener">rock-bottom rate</a> that occurred as a result of worldwide lockdowns. Democrats blocked the measure amid broader stimulus package negotiations.</p>
<p>Biden has <a href="https://www.dailywire.com/news/biden-could-refill-strategic-oil-reserve-at-80-per-barrel-democrats-blocked-trump-when-oil-was-24" target="_blank" rel="noopener">presided over a decrease</a> in the Strategic Petroleum Reserve from 638 million barrels to 409 million barrels, according to <a href="https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&amp;s=WCSSTUS1&amp;f=W" target="_blank" rel="noopener">data</a> from the Energy Information Administration. When one reporter questioned White House Press Secretary Karine Jean-Pierre this week on why the release was necessary since gas prices are trending downward, as the administration asserts, she <a href="https://www.dailywire.com/news/white-house-press-secretary-claims-americans-are-saving-on-gas-under-biden" target="_blank" rel="noopener">claimed</a> that Americans would receive “a little bit of breathing room” as a result of the policy.</p>
<p>“President Biden has said for months how he is committed to doing everything that he can in his power to address Putin’s price hike,” Jean-Pierre said. “He has said this on almost every speech that you’ve heard him talk about when it comes to gas prices and what the American people are seeing and feeling at the pump. And he’s been delivering on that.”</p>
<p>Although the release is primarily intended to cut domestic energy prices, at least 5 million barrels from the Strategic Petroleum Reserve have <a href="https://www.dailywire.com/news/stunning-amount-of-oil-released-by-biden-found-its-way-to-china-other-countries" target="_blank" rel="noopener">found their way</a> to nations such as India, the Netherlands, and Italy, as well as a Chinese oil company with <a href="https://www.dailywire.com/news/biden-admin-sold-nearly-1-million-barrels-of-oil-to-chinese-state-owned-company-tied-to-hunter-biden" target="_blank" rel="noopener">links</a> to Hunter Biden.</p>
<p>The economy and inflation are salient issues among voters preparing to cast ballots in the midterm elections, with 84% considering the former to be a top factor on their minds. The Republicans lead the Democrats by a 16% margin and a 19% margin with respect to trust on handling the economy and inflation, respectively, according to a recent <a href="https://www.dailywire.com/news/new-midterm-poll-spells-bad-news-for-democrats-on-the-economy" target="_blank" rel="noopener">poll</a> from ABC News and The Washington Post.</p>
<p>The government of Saudi Arabia <a href="https://www.dailywire.com/news/bidens-threat-after-saudis-nix-midterm-friendly-oil-plan-looks-like-quid-pro-quo-says-shapiro" target="_blank" rel="noopener">released a statement</a> last week claiming that Biden had asked the kingdom to avoid a decrease in oil production until after the American elections. Earlier this month, Biden reportedly began preparing to <a href="https://www.dailywire.com/news/biden-to-ease-sanctions-on-socialist-venezuela-releases-maduros-convicted-narco-trafficker-nephews" target="_blank" rel="noopener">ease sanctions</a> on Venezuela so that Chevron, an American oil company, could resume production in the socialist nation.</p>

<script async src="https://www.instagram.com/embed.js"></script>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<script async src="https://www.tiktok.com/embed.js"></script><div data-widget-host="revcontent" data-pub-id="165152" data-widget-id="290588"></div><script src="https://delivery.revcontent.com/165152/290588/widget.js"></script>

Biden Announces Release Of More Oil From Strategic Reserve Ahead Of Midterms

CONTINUE READING

Bud Light Sales Continue To Plummet, May Soon Lose Status As Number-One Beer

‘Profoundly Christian’: Former Head Of Anglican Church Presses British Government To Endorse Assisted Suicide

Ben Shapiro Reacts To Debt Limit Deal, Hits Both Democrats And Republicans Over Spending Habits

‘The Chosen’ Defends Pride Flag Spotted On Set: ‘Let The Show Speak For Itself’

Chick-Fil-A Faces Backlash As Their Diversity Efforts Resurface, Other Woke Brands Take Beating

North Korea Sentenced Two-Year-Old To Life In Prison After Family Caught With Bible: State Department

News

Economy

Energy

Oil and Gas

Strategic Petroleum Reserve

White House

A video goes viral showing a baby being refused his mother by two gay "dads". This is just the tip of the iceberg, which is why we will have an important discussion today about surrogacy. 

Hour 1

The Matt Walsh Show

Ep. 1765 - This Video Is One Of The Worst Things I've Seen In A Long Time 

The Strait of Hormuz officially opens for business (kind of), the Pope makes “shocking” comments on immigration, and President Trump promises UFO disclosure at TPUSA. 


The Michael Knowles Show

Ep. 1956 -  Pope Leo's "SHOCKING" Immigration Comments EXPLAINED

A false miscreed has corrupted our leadership class.


The Andrew Klavan Show

Ep. 1275 - Dumb, Dumber and Progressive

President Trump announces a 10-day ceasefire between Lebanon and Israel, a murder-suicide involving former Democratic Lieutenant Governor Justin Fairfax shakes Virginia, and France and Britain hold a conference to secure the Strait of Hormuz – after the Iranian conflict ends. Get the facts first with Morning Wire.

- - -

Ep. 2738

- - -

Wake up with new Morning Wire merch: https://bit.ly/4lIubt3

- - -

Today's Sponsors:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text 'WIRE' to 83848 to learn more.

Pocket Hose - Text MORNING to 64000 to get a FREE pocket pivot and their 10-pattern sprayer with the purchase of ANY size Copper Head hose. Message and data rates may apply.

Morning Wire

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26 [Member Exclusive]

A ceasefire goes into effect between Israel and Lebanon, a tragic murder-suicide rocks Virginia, and Dairy Queen deploys AI in the drive-thru. Get the facts first with Evening Wire.
- - -
Ep. 2737
- - -
Wake up with new Morning Wire merch: https://bit.ly/4lIubt3 
- - -
Today’s Sponsor:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text “WIRE” to 83848 to learn more.


Evening Wire: Lebanon Ceasefire Begins & Murder-Suicide Rocks VA | 4.16.26

The Pendragon Cycle

Menu

— News —

Biden Announces Release Of More Oil From Strategic Reserve Ahead Of Midterms