Biden Issues Major Withdrawal Of Oil Reserves, Sends It Overseas

There are reports President Biden is tapping our nation's oil reserves and shipping it overseas.

The president is touting his administration's releasing millions of barrels of oil from the Strategic Petroleum Reserve as emergency relief for drivers. However, reports of U.S. crude being exported to Europe is raising concerns. Industry expert Phil Flynn says the president is misleading the American people about what we're doing with our oil reserves.

“The reality is U.S. refiners are not refining the type of oil that they’re releasing, and most of it is going to end up in other places like the Netherlands, like China, and maybe even Japan,” Flynn said.

He adds many Americans may not be aware that we have sent our reserves overseas to places like Europe and Asia. So, why is President Biden touting his efforts?

“I think it’s desperation. People blame him for the high cost of gasoline, and in large part, he is responsible,” Flynn explained. “On your first day in office, you killed the Keystone Pipeline, you put a drilling moratorium on federal lands.”

He also notes the president's low poll numbers ahead of the midterm elections. Energy experts say that releasing oil from our reserves might result in lower gas prices temporarily. However, many agree it is not a long-term solution.