Biden Backs America Into A Corner After Whittling Down Key Oil Reserve

 SUZANNE DOWNING: (msn.com)   "Since the creation of the Strategic Petroleum Reserve in the mid-1970s, America has never been backed into such an energy corner as we’re in now, thanks to the Biden administration selling off much of our oil reserve to countries like China.

"It’s an invisible trap about which most Americans are oblivious, but it has everything to do

with inflation, recession and national security. Americans may soon feel the pain of rising prices, supply shortages and a faltering economy, if OPEC, Russia and China succeed in taking advantage of our suddenly depleted energy stockpile.

"Under President Joe Biden, this drawdown of our reserve oil masks political problems he blames on Russia. But that dog won’t hunt. Let me explain:

"Recall that it took just one year after Biden became president for Russia President Vladimir Putin to invade Ukraine. Putin had also seized parts of Crimea during the years when Barack Obama was president.

Putin held his Ukraine ambitions in abeyance during the four years of President Donald Trump. Love him or hate him, Trump was the president with whom Putin did not want to mess. For four years, the United States was strong enough to stall the expansion plans of the Russian strongman until that fateful day when American voters evidently elected a man who would hardly leave his basement to campaign for president.

"For Biden, the price of oil doubling under his administration was a serious problem starting in 2022; the Strategic Petroleum Reserve was his solution to keep Americans calm after the price of gas had doubled quickly last year.

"Thus, oil poured forth from the strategic reserve month after month, invisibly suppressing the supply problem Biden was creating with his other anti-oil policies. Much of that oil sold by the Biden administration went to companies that were middlemen for China.

"How much oil? You can practically hear the echo in the salt caverns. Last year, the Department of Energy sold off over 180 million reserve barrels. This was about 21 gallons of crude oil for every man, woman and child in America.

"In one year alone, the Biden administration drained nearly a third of what was in the emergency reserve and has more sell-offs on the schedule. The administration says its efforts have lowered gasoline prices by 17-42 cents over what they would be without this action." . . .