BREAKING: After Draining Strategic Petroleum Reserve to Lowest Level in 40 Years, Biden CANCELS Plan to Refill it Because Oil is “Way Too Expensive”

(Photo by Drew Angerer/Getty Images)

The Biden Regime canceled its plan to refill the Strategic Petroleum Reserve because oil is “way too expensive.”

This comes as gas prices are once again skyrocketing.

Recall that Biden drained the SPR to its lowest level in 40 years.

Biden sold the U.S. Strategic Petroleum Reserves (SPR) to Europe, India and China.

Joe Biden depleted the SPR to help China.

Bloomberg reported:

The Biden administration won’t move forward with its latest plans to buy oil for the Strategic Petroleum Reserve amid rising prices.

The Energy Department said it was “keeping the taxpayer’s interest at the forefront” in its decision not to purchase as many as 3 million barrels of oil for a Strategic Petroleum Reserve site in Louisiana. The plan for the barrels to be delivered in August and September had been announced in mid-March.

In October 2022 Joe Biden absurdly claimed he would be refilling the oil reserve at $70 a barrel to make money.

“By selling from the [oil reserve] at the higher price of $90 earlier this year and then re-filling it in the future at a lower price around $70 will actually make money,” Biden previously said.

A few years ago the Democrats blocked President Trump from filling the Strategic Oil Reserves at $24 per barrel.

The Democrats cost the US BILLIONS in potential profits.

To add to the scandal, Energy Secretary Jennifer Granholm secretly consulted with CCP energy officials before Joe Biden released barrels of oil from the US Strategic Petroleum Reserve (SPR) in 2021.

“Secretary Granholm’s multiple closed-door meetings with a CCP-connected energy official raise serious questions about the level of Chinese influence on the Biden administration’s energy agenda,” APT Executive Director Caitlin Sutherland told Fox News.

The Department of Energy (DOE) downplayed the Biden Regime’s consultation with CCP officials and said the meeting was a part of the agency’s effort to ‘combat climate change.’

“Solving the climate crisis means engaging with competitors and allies in clear and substantive discussions — especially among the nations emitting the most carbon pollution into the atmosphere,” a DOE spox told Fox News. “We must all address the transnational challenge of climate change to our planet.”

The Biden crime family has received $31 million from companies tied to the Chinese Communist Party’s Ministry for State Security. The only explanation for the Biden Regime’s treasonous actions in wartime is that they are “intentionally trying to harm the United States”, said Tucker Carlson. “If that’s not an indictable offense, it’s certainly an impeachable one.”

Sleep well, America.

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Cristina began writing for The Gateway Pundit in 2016 and she is now the Associate Editor.

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Thanks for sharing!