Democrat and China collusion?
About 1 million barrels per day have been drained from the Strategic Petroleum Reserve through October, at an unprecedented pace. The drain means SPR inventories fell to the lowest since 1986.
US crude futures are above $100 per barrel and gasoline and diesel prices above $5 a gallon in one-fifth of the nation. US officials have said oil prices could be higher if the SPR had not been tapped, and for once they are right.
Still, the question looms of what happens to oil prices when the US can no longer sell the SPR amid concerns of a real emergency:
we know the answer and the Biden admin won't like it.What is most notable is that a third cargo headed to US arch-enemy, China,
which is now directly benefiting at the expense of US consumers as a result of Biden's escalating panic to undo the consequences of his catastrophic green policies by selling the most valuable US assets directly to Beijing!