STRATEGIC PETROLEUM RESERVES FALL TO LOWELS LEVESL SINCE 1983…
Saturday, 31 December 2022
America’s Strategic Petroleum Reserve Falls to Lowest Level Since 1983 as Gas Prices Rise Again
Nick R. HamiltonDecember 31, 2022 – 10:06 am2 Comments
The Strategic Petroleum Reserve (SPR) fell to its lowest level since 1983, as oil and gas prices rose again last week.
The Biden administration has tapped over 240 million barrels from the SPR this year to lower domestic gas prices, which have been rising since the president took office.
President Joe Biden first announced his plan to release oil from the national reserve on an emergency basis on Nov. 23, 2021, as part of a “major effort to moderate the price of oil” and lower prices at the average “corner gas station.”
The SPR was established when Congress passed the Energy Policy and Conservation Act after the 1973 oil embargo, for emergency shortages, acts of terrorism, and natural disasters.
Following Russia’s invasion of Ukraine, Biden ordered the release in March of the first 30 million barrels out of the 180 million initially intended to be tapped from the SPR in 2022.
Republicans and energy analysts have been highly critical of the plan, arguing that it does little to lower gas prices and makes the United States more vulnerable to major supply disruptions in the future.
U.S. gas prices soared over $5 per gallon in June, reaching an all-time high, but later fell below $4 by the end of summer.
Right before the midterms, Biden controversially ordered the DOE to sell an additional 15 million barrels from the SPR on October 19, in addition to the oil already released, and called for additional sales throughout the winter.
The emergency oil stockpile, which is managed by the Department of Energy (DOE), tumbled to 375.1 million barrels as of Dec. 23, according to the Energy Information Administration.
This is the first time that the reserve has fallen below 378 million barrels since Dec. 30, 1983, when it reached 378.3 million barrels.
In the meantime, average national gas prices rose to $3.159 per gallon on Dec. 29, for the third consecutive day, according to the American Automobile Association’s gas price index.
However, the brief rally earlier this week and other associated factors may deter producers from selling oil contracts to the U.S. government at its desired price of between $67 and $72 per barrel, to refill the reserve.
West Texas Intermediate (WTI), the U.S. oil benchmark, jumped to nearly $80 per barrel last week, but later fell to around $78.30 by Dec. 29, while the Brent crude index, the global oil benchmark, hit $84.33 per barrel.
The DOE’s Office of Petroleum Reserves announced on Dec. 16, that it would start repurchasing crude oil for the SPR.
Higher oil prices potentially pose a challenge to the DOE’s plan to begin soliciting bids from oil producers to refill the SPR using fixed-price contracts.
The Chicago Mercantile Exchange showed future WTI prices holding above $79 per barrel from February through July 2023.
The DOE’s program to refill the national oil stockpile by 3 million barrels a day, is set to begin in February 2023.
Two factors driving up oil markets include rising demand from China, as it emerges from its pandemic restrictions in recent weeks, and a potential reduction in oil output from Russia after it promised to retaliate against countries supporting the G-7-led price cap.
The latest price estimates may encourage producers to take their chances with the market rather than make bids for the government’s contracts.
Congressional Republicans have since denounced the move and announced that they would impose further oversight and new legislation next year, that would halt further releases from the stockpile, which is dangerously low, reported Fox Business.
The Republicans are pushing a bill that would prohibit the DOE from tapping the SPR unless there is a “severe energy supply interruption” and until the administration issues a plan to boost domestic oil and gas production.
They also warned the rapid depletion of the stockpile would allow opponents like Russia, China, and Iran to “gain geopolitical leverage” over the United States.
Sen. John Barrasso (R-WY.), the ranking member of the Senate Energy and Natural Resources Committee, and Rep. Cathy McMorris Rodgers (R-WA), the ranking member of the House Energy and Commerce Committee, warned last month that the Biden administration was endangering its future of the SPR.
The two Republican lawmakers accused Energy Secretary Jennifer Granholm of overseeing the sale of more than 245 million barrels from the national stockpile, while “gas prices remain high and supply chain shortages continue to plague our economy.”
They noted that instead of encouraging American energy producers to drill for more oil, Biden administration officials failed to “establish long-term plans for the optimal size, configuration, maintenance, and operational capabilities of the reserve,” while depleting it to its lowest level in decades.
GOP legislators noted that while the United States remains a net exporter of oil products, the SPR needs to remain stable enough to mitigate any potential supply disruptions that could affect the nation’s energy infrastructure.
Meanwhile, the Biden administration has been criticizing American oil producers throughout the year for spending too little on additional production, despite the White House’s best efforts to discourage drilling.
Major producers like Chevron and ExxonMobil have said that they were trying to increase production in the Permian Basin in response to the criticism, but others in the industry have said that any new drilling projects might expose them and their investors to risks if prices plummet.
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Wednesday, 22 May 2019
NoogaRadio 92.7 HOT News Talk Radio
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IT’S NOT PRESIDENT TRUMP’S JOB…IT’S OUR JOB!!
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My deep appreciation and gratitude to Messrs. Russell Stroud, Chris Clayton, Michael Lisowski (Lt.Col. USA Retired, USMA at West Point, Class of 1991) and most especially to Mr. David Tulis for your courtesy, hospitality, patience, insights, indulgence, professionalism and most of all, thank you all for your time.
Fair winds, following seas…
MUSLIMS ARE TRYING TO ISLAMIZE AMERICA! IT’S CALLED SEDITION AND TREASON FOLKS!
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“THE DIFFERENCE BETWEEN A RADICAL MUSLIM AND A MODERATE MUSLIM IS A RADICAL MUSLIM WANTS TO CUT YOU HEAD OFF WHILE THE MODERATE MUSLIM WANTS THE RADICAL MUSLIM TO CUT YOUR HEAD OFF.” -Unknown
PASS THE WORD!
https://twitter.com/rejialex7/status/836584099598979072
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OBAMA IS FORMALLY AND CRIMINALLY CHARGED WITH TREASON, BY THE U.S. MILITARY…AGAIN!
Thursday, 9 May 2013
NAVY SEAL BEN SMITH
“IS THIS NOT TREASON!?”
National Press Club – 1155 hours EDT – Thursday, 9 May 2013
CLICK HERE REGARDING TREASON COMMITTED BY OBAMA THE FOREIGN BORN DOMESTIC ENEMY!
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JAG HUNTER here:
“This is not the end. It is not even the beginning of the end. But it is perhaps, the end of the beginning.”
-Sir Winston Churchill speaking on 9 November 1942
The latest formal criminal complaint naming OBAMA in TREASON was filed this morning at 1131 hours local (11: 31 a.m. EST).
The TREASON complaint is copied below for your convenience. The TREASON complaint accuses OBAMA regarding both EXTORTION – 17 (Afghanistan August 2011) and BENGHAZI (Libya September 2012)!
Now, as is assiduously, urgently importuned since 17 March 2009 it is going to take a very large number of people, acting in groups and in a coordinated way, to advance this formal criminal complaint naming OBAMA in TREASON so as to take effect.
Individuals must file individual complaints in the same way this complaint was administered. Then the individual complaints must be collected up and submitted in mass everywhere possible across the United States.
OBAMA can and must be removed from his residence in the White House as a common thug, punk street wise criminal.
I’m not talking impeachment, I’m talkin’ ’bout OBAMA being taken down as any other accused felon.
It can be accomplished if enough people get behind the effort in a way that soars over any gathering or group action before.
FIND A WAY OR MAKE ONE!
DO IT NOW!
HERE ENDTH THE LESSON!
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Thursday, 8 November 2012 – 70th Anniversary OPERATION TORCH – World War II Northwest Africa – Casablanca
From: Walter Francis Fitzpatrick, III United States Navy Retired
To:
- Robert Swan Mueller, III, Director – Federal Bureau of Investigation, Washington D.C. (ORIGINAL)
- The Foreman of the two sitting Federal Grand Juries sitting in Knoxville, Tennessee via William C. Killian, U.S. Attorney for Tennessee’s Easter District
SUBJECT:
FORMAL CRIMINAL COMPLAINTS NAMING BARACK HUSSEIN OBAMA IN COMMISSION OF TREASON
1. OBAMA represents a clear and present danger to U.S. national security, to the U.S. Constitution and to our Republican form of government. OBAMA IS A FOREIGN BORN DOMESTIC ENEMY! OBAMA is working assiduously to destroy America! No document record exists showing Barack Hussein OBAMA to be a United States citizen.
2. OBAMA paid money and aided and abetted Al-Qaeda members and groups that attacked Americans on U.S. territory in Benghazi, Libya on 11 and 12 September 2012. Al-Qaeda is the jihadist terrorist organization that attacked the United States on 11 September 2001.
3. Pro-jihadist and Islamist OBAMA personally denied frantic cries for help from Americans in mortal danger throughout a 7-hour attack by approximately 150 heavily armed known jihadists. OBAMA watched four Americans die in real time. OBAMA is allowing our enemies to slaughter our servicemen piecemeal at the same time ordering our troops to disarm.
4. OBAMA lies to the American people about his TREASON with every opportunity. OBAMA is lying to the American people about the 11-12 September attack in Benghazi, Libya in a cover story intended to protect OBAMA from facing a criminal prosecution and conviction.
5. OBAMA is personally responsible for OBAMA the 6 August 2011 shoot-down of an Army CH-47D Chinook helicopter in Afghanistan. 17 Navy SEALS died. All 5 men of the Chinook crew died. 3 Air Force special tactics airmen died. 5 men of a Navy support force died. OBAMA and his gang of outlaws lie to the America people about that.
6. In commission of TREASON In commission OBAMA is engaged in purchasing and supplying guns, heavy weapons, high-powered munitions and explosives to foreign aggressors—AMERICA’S ENEMIES—around the globe. OBAMA has and continues to ship weapons from Libya to Syria through Turkey. Some weapons may be being directly shipped to Syria. Christopher Stevens was OBAMA’s point man of this operation when Stevens was murdered in Benghazi during the attack of 11-12 September 2012. In this TREASON OBAMA is arming America’s enemies: Al-Qaeda and the Muslim Brotherhood connected Syrian rebels.
7. As an Act of TREASON OBAMA provides safe-haven and sanctuary to those bent on the destruction of the United States, its people, and its form of government. OBAMA encourages, facilitates and arms our enemies to carry out a WAR on the United States from enemy bases set up in the homeland and around the globe. OBAMA aids and abets these known enemy forces to establish and strike from strongholds OBAMA allows established on American soil.
8. OBAMA refuses to pledge his allegiance to the United States.OBAMA conspires with leaders of countries, groups and organizations bent upon the destruction of America. By so doing OBAMA engages in TREASON against the United States in every aspect of TREASON.
9. As an Act of TREASON OBAMA broke into and occupies the White House by force of contrivance, concealment, conceit, dissembling and deceit. OBAMA is an undocumented illegal alien and spy. Posing as an imposter president and commander-in-chief OBAMA strips civilian command and control over the military establishment. Known military criminal actors—command racketeers such as Martin Dempsey—are free in the exercise of an extra-military government intent upon the destruction of our Republican, constitutional form of governance. There are dozens of senior military commanders no more obedient to the United States Constitution than is OBAMA.
10. OBAMA is joined in his TREASON by a raft of civilian criminal assistants too numerous to name in this submission. I leave it to the Grand Jury, in the conduct of an independent, autonomous, and unfettered investigation, to assign specificity and particularity to the list of OBAMA’S co-conspiring outlaws.
11. OBAMA is a FOREIGN BORN DOMESTIC ENEMY, an infiltrator, a traitor and a spy. OBAMA installed and operates a government that rivals and competes with our U.S. Constitution. OBAMA operates government not found in our United States Constitution. If not arrested OBAMA will continue to commit TREASON. OBAMA is emboldened now and more dangerous to this country’s survival as a constitutional Republic than any other threat the United States faces in the world.
12. We come now to this reckoning: I accuse Barack Hussein OBAMA of TREASON. I accuse OBAMA’S military-political criminal assistants of TREASON. Their criminal mischief is recognized as TREASON in pure form. I expose and identify OBAMA and his criminal associates as TRAITORS (Joe Biden, Hillary Clinton, Leon Panetta, Susan Rice, David Petraeus and Martin Dempsey but a few).
13. It needs be said out loud and relentlessly: OBAMA is aiding and abetting America’s enemies. OBAMA is lying to the American people in every regard going to OBAMA’S TREASONOUNS escapades. OBAMA IS A CLEAR AND PRESENT DANGER TO THESE UNITED STATES OF AMERICA!
14. This submission renews and extends all previous filings naming OBAMA in commission of TREASON dating from 17 March 2009. The list of ACTS of OBAMA’S TREASON found in this formal criminal complaint is not exhaustive. Far from it.
15. My sworn duty is to stand against everything OBAMA stands for. The FOREIGN BORN DOMESTIC ENEMY OBAMA IS NOT MY PRESIDENT! HE IS NOT MY COMMANDER-IN-CHIEF!
“This is not the end. It is not even the beginning of the end. But it is perhaps, the end of the beginning.”
Obedient to my oath to the United States Constitution in submission of this criminal complaint for TREASON I remain stead fast and,
BORN FIGHTING,
/s/
Walter Francis Fitzpatrick, III
United States Navy Retired
Distribution wide
Sworn and issued before me
/s/
Ashlei D. Lawson this 8th day of November 2012
at 1003 hours local (10: o3 a.m. EST)
My commission expires: 23 April 2013
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