President Joe Biden has taken official steps to release millions of barrels of oil from the nation’s emergency reserves to fend of skyrocketing energy prices.
According to the Washington Free Beacon, the president’s order came on Tuesday and dictated that 50 million oil barrels from the Strategic Petroleum Reserve be used in what is the largest reduction of the reserves in United States history.
The White House announced the move in a statement as the Biden Administration addresses the growing energy prices and seven-year high gas prices.
However, the president is being accused of using the reserve to solve a problem his administration created by shutting down pipelines and halting new oil and gas leases on federal lands:
“Joe Biden cut U.S. oil production, canceled pipelines, and now he’s selling off the Strategic Petroleum Reserve—meant for emergencies—because of his low poll numbers,” Sen. Tom Cotton (R., Ark.) said Tuesday. “More incompetence from the Biden White House.”
Additionally, according to Breitbart News, both the President and Vice President were highly critical of former President Donald Trump for refilling those reserves during 2020:
“Absolutely unacceptable that Trump is prioritizing bailing out Big Oil companies while dragging his feet to support millions of unemployed people, workers, small businesses, and state and local governments,” Harris tweeted in 2020 during the pandemic.
Trump moved to fill the reserves last year when particularly low prices were almost to the point of threatening the American oil producers’ ability to compete with OPEC and their seemingly everlasting monetary reserves.
“Once this straightens out, and once you get some demand and then you’re gonna reduce the supply a little bit it’ll equalize and be great again,” Trump said in April of 2020. “We want to remain independent.”