Experts Say Biden Release of Reserves No Impact on Gasoline Prices

Joe Biden has declared war on the oil industry, and now they have the upper hand.

With curbed domestic drilling, higher leasing prices and fees, and more red tape, Biden is trying to cripple the oil industry.

Even so, he released 50 million barrels from the reserve to try to lower gasoline prices, but experts believe the move will have little impact, if any, on pricing.

Let’s Be Realistic

The move by Biden was like putting a small bandage on a gaping wound.

First, we can only pump out about 4.5 million gallons per day due to pipeline restrictions, so it will take almost two weeks to have the full 50 million added to the supply.

Secondly, the full amount only equates to a few days of usage in the United States, so the overall market will have almost no impact.

Philip Walsh, professor of entrepreneurship and strategy at Ryerson University in Toronto and principal investigator at the university’s Center for Urban Energy, stated, “One needs to be careful to directly equate a relatively minimal release of oil reserves to lower gasoline prices.”

He continued, “First of all, 50 million barrels of oil is less than three days of consumption in the United States and the market for oil is not limited to producing just gasoline. Heating oil and oil-fired power generation will also compete for that surplus supply.”

He added that gasoline prices “are influenced by oil prices which are driven by the demand-supply balance.

“So any short-term impact on gasoline prices from the release of oil from the U.S. Strategic Reserve will be dependent on how quickly that oil gets into the U.S. energy system and at what daily amount.”

Biden will probably see a slight dip in pricing, but that will more than likely only be a blip on the screen.

Relatively speaking, it will be the calm before the storm.

With colder weather closing in, heating oil will add to the supply shortage, driving prices even higher, especially with the new leasing structure that Biden wants to put in place.

Do not spend too much money on Christmas because come February, you will need that cash to fill your heating and gasoline tanks.

Source: Newsmax

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15 Responses

  1. I read that 1/3 of what is being released will go China and India. Can’t Congress do anything to stop Bidens craziness? I think he should be shipped to China since he cares more about than America.

    1. The Liberals in Congress are in on this idiot Biden’s agenda. Destroy America as fast as we can before the 2022 election. This is about as horrendous as it gets. The Liberals are destroying America BY DESIGN. No other explanation even comes close. Wake Up Libs. You will not be exempt. Only illegals will be exempt. If you haven’t figured it out yet, Biden and Company are putting Americans LAST!!! Americans are still stranded in Afghanistan with no effort to rescue them, grocery stores can’t keep the shelves stocked while what we can find is 2-3 times higher than under President Trump, gasoline and heating oil are astronomically expensive all because Biden closed the Keystone XL Pipeline and put strong restrictions on drilling sites. I could go on and on. Our country is being sold into Communism. Example: Mandates are rampant in Communist countries and do not belong in a Free country.

      1. Read the dictionary of what “Liberal” means. The ones you give this “title” to , are COMMUNIST, not “Liberal”. Oh, try a dictionary from around circa 1985 or earlier for a Real meaning.

    2. shirley you are so right. biden and harris even pelosi and shumer need to be shipped to china.they love china. america last thats joe biden words ,..we need trump america first.this biden ruined everything trump did for us we had our own gas and oil. what does crazy joe do shut down our oil and gas pipeline.these people in the demorat party need to all be impeached and then removed. there distroying our america.people wake up and vote republican in 2022 and trump in 2024. we had enough of there demorat party.garbage.

      1. Please. Biden{Joe and Hunter} , Nancy , Ilhan ,AOC , Schumer , All three Clintons , Both Cuomo’s , DiBlasio ,Lightfoot , Newsum ,Whitmyre , Butthead O’Rourke , Tlab , Waters , Warren ,Gen. Myle {sp} , FBI head , and others should be ARRESTED for “TREASON ,SEDITION ,Crimes against The U.S. , The Overtrow of the Government ,and other High Crimes and misdemeanors. Also include “antifa/BLM” in aforementioned list . After a short trial , taken out and shot , then feed the sharks with the “corpses” .

    3. The lying sack of s**t in the WH doesn’t care. George Soros is his instructor to bankrupt the USA.
      Let’s go Brandon…

  2. Biden needs to be told to stop all the nonsense by the congress he can not just do what he feels like doing whenever he wants to. Some one needs to tell him he can’t do what he wants to when he wants

  3. Bison is an idiot all the Dems are. Their main goal is to destroy our country. They think they are going to sit in the top Thelma? I don’t think so….I think they will end up dead or being the slave of the elites. I know their eternity is going to be beyond our imagine. All those babies they killed.

  4. Let’s go Brandon I’ll bet that we will never be able to get it done because of the dumbacrats are above the law of the country and you know that 8

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