US emergency oil supply shrinks to 40-year low as Biden keeps tapping reserve

by 2 million barrels, the first major cut in two years. The move – which came despite lobbying from U.S. officials to do otherwise – threatens to raise oil prices at a time when the world is already combating record-high inflation.condemned the production cuts, which threaten to push gas prices higher with midterm elections just one month away.

After hitting a record high of $5.01 per gallon in mid-June, a gallon of gas now costs about $3.86 on average, according to AAA. While that marks a 23% decline from the summer peak, it is still up 29% from just one year ago. Proponents of releasing barrels from the emergency stockpile say that doing so increases oil supplies and reduces prices at the pump, while also generating billions in revenue for the federal government. But critics say that releasing emergency supplies is a short-term fix and does not increase the country's oil production capabilities. in several emergencies, including in 2005 after Hurricane Katrina made landfall and destroyed swaths of the Gulf of Mexico oil infrastructure.

I wonder if the one's that voted for Biden are regretting it now

MIGOP So when China or Russia attacks us, we will be out of weapons (Ukraine) and out of gas (Biden) to fight back.

Thank to Biden if we need it for an emergency we won’t have enough!

The President needs to be removed from office. His gross economic incompetency is far too much for America to continue to bare. I am calling for Congressional action to remove the President. SenateGOP, SenatorHawleyMO

FJB. Let's go, Brandon...

I mean there’s no war risk so…

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