With Democrats celebrating their latest spending spree, the massive - mini 'green new deal' which they falsely call the 'Inflation Reduction Act' (spoiler alert - it's not going to reduce inflation, it's going to make it worse) Our Strategic Petroleum Reserve is now at it's lowest level in 37 years!
"Here we are taking a million barrels a day from our Strategic Reserve" said Rey Trevino III, Director of Operations with Pecos Country Operating, "The strategic reserve is really made for when we have no oil, or when our military needs it, those are the two main reasons why we would go and dip into the strategic reserve. That would be devastating if we drained it."
But that is exactly what is happening under the Biden administration, which has been trying to get gas prices down before the 'red wave' at the midterms.
So will Biden eventually refill the SPR?
"With this president, I could actually see him not doing it, because he has waged war on the oil and gas industry, and he doesn't want to give anything" Trevino told KTRH, "For him to even fill this up would mean he is giving in, in some form or fashion. I could see this not getting refilled, or replenished, until we have a new president."
It's yet another stunning turn of events from where we were just 19 months ago, when Donald Trump was in office.
"President Trump actually filled up the SPR at $20 oil, and now we're going to have this president come in and probably fill it up at about $100 a barrel" noted Trevino, "And it is very important that we fill it back up. We need a start, but this president obviously is not worried about that at all."
Photo: Getty Images