Biden admin to consider tapping emergency diesel stockpile: Report

The Washington Examiner reports that President Joe Biden and his administration are considering whether or not to tap into America’s emergency oil reserves to help combat the soaring energy prices that are being witnessed by Americans. 

Energy prices have been at record levels for weeks. In just the past week, new records have been set for both gasoline and diesel with the national average price of gasoline reaching over $4.50 per gallon, and the national average of diesel reaching over $5.5 per gallon.

It’s worth emphasizing, though, that these are only national averages. This means that some parts of the country are seeing even worse prices than these.

It is for this reason that Biden is said to be considering whether or not to tap into the emergency reserves.

Specifics

Biden, back in March, tapped into the U.S. Strategic Petroleum Reserve. He ordered the release of 180 million barrels of petroleum at the rate of 1 million barrels per day for six months.

This time, however, Biden would be looking to tap into the Northeast Home Heating Oil Reserve. This particular reserve was created under former President Bill Clinton’s administration in 2000.

How much of the reserve Biden is considering releasing is unclear. The Examiner reports that Biden “could deliver up to a million barrels of ultralow sulfur diesel into the fuel-hungry marketplace if it were to completely draw down the Northeast Home Heating Oil Reserve, although how many barrels are under consideration for release was not revealed.”

If Biden does proceed with this plan, this would be only the second time that the Northeast Home Heating Oil Reserve has been tapped into. The only other time was during Barack Obama’s presidency following Hurricane Sandy. Obama released 120,000 barrels on that occasion.

A rock and a hard place

The Biden administration has no easy decision here. On the one hand, it is being pushed by leftist groups into supporting a green agenda that, in response to so-called global warming, has as its goal the termination of the use of fossil fuels. Many have convincingly argued that the current energy crisis was purposely brought about by the Biden administration for this purpose, and Biden, himself, gave credence to this argument on Monday.

“Here’s the situation,” Biden said. “And, when it comes to the gas prices, we’re going through an incredible transition that is taking place that, God willing, when it’s over, we’ll be stronger and the world will be stronger and less reliant on fossil fuels when this is over.”

On the other hand, it is an election year, and Biden and the Democrats are getting hammered in the polls. No doubt, it is for this reason that he is, once again, considering tapping into the reserves.

We’ll see what Biden chooses. But, it appears to be a lose-lose situation for him.

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