President Joe Biden (D) has announced his decision to release more American-produced oil from the Strategic Petroleum Reserve. Rising oil prices has been a concern leading up to the midterm election, but the President argues that having those releases significantly lowers the price of gas. In response to the release, Republicans across the country have criticized the decision, accusing it of being a political move.
During the press conference, President Biden announced that “The Department of Energy will release another 15 million barrels from the Strategic Petroleum Reserve, extending our previously announced release through the month of December.” The President went on to explain that “independent analysts have confirmed that drawdowns on the reserve so far have played a big role in bringing down oil prices – bringing them down, so we’re going to continue to responsibly use that national asset.”
After making the announcement, reporters questioned if the move was political considering that the election is under 3 weeks away and the Biden administration’s approval rating has taken a hit because of it. To this, Biden rejected the idea, saying that it’s not political but instead a beneficial decision for the country.
Florida Rep. Mario Diaz-Balart (R), a vocal critic of the president, took to social media to comment on the announcement, saying that “in just two years, Biden has managed to deplete our Strategic Petroleum Reserve (SPR) by 40 percent- bringing it down to its lowest level since 1984.” In turn, Diaz-Balart called it “an immense risk to our national security.”
In just two years, Biden has managed to deplete our Strategic Petroleum Reserve (SPR) by 40 percent– bringing it down to its lowest level since 1984. This is an immense risk to our national security. https://t.co/d37PpgU2Bk
— Mario Diaz-Balart (@MarioDB) October 19, 2022
Texas Rep. Dan Crenshaw (R) echoed in Diaz-Balart's remarks, taking to social media with a series of tweets expressing his disappointment with the president's decision. The Texas Republican argued that there's more to the decision than just the release, calling it an effort of "buying" votes.
It’s a thread that could go on and on and on and on—rules on the State Dept talking about fossil fuels, $25B in new oil & gas taxes, chemicals rules that hurt refiners, plastic rules, etc.
All of this points to the truth: Biden has hurt energy production. Don’t believe his lies.
— Dan Crenshaw (@DanCrenshawTX) October 20, 2022
"Biden has hurt energy production," Crenshaw concluded, urging voters to not "believe his lies."
The Biden Administration has even told the very agencies that manage your retirement accounts to punish oil and gas, depriving the companies of capital. They rolled out new anti-oil rules for your pension fund and for your investment account. https://t.co/Tif9PrASQ4
— Dan Crenshaw (@DanCrenshawTX) October 20, 2022
