Fox News: Biden has depleted US strategic oil reserves to record lows

Within a year, US President Joe Biden’s administration has spent 40 percent of the country’s strategic oil reserve. Reserves have reached their lowest level in 30 years. This was stated by the President of the US Oil and Gas Industry Association Tim Stewart.

“Just over a year ago, the Biden administration initiated this largest stockpile drawdown in our history because they needed to survive an election cycle—not even a hurricane or major military conflict. And now our inventories are at a 30-year low. This is the lowest level since 1983, when we replenished stocks,” Stewart said in an interview TV channel Fox News.

The White House sold more than 40 percent of its strategic oil reserves within a year. Such a crisis threatens the strategic and national security of the country. Restoring the reserve will be very expensive and time-consuming. You need to fill it with heavy oil. In the USA, they now produce mainly light, low-sulfur. Therefore, they will be forced to export oil.

Now the Pentagon continues to purchase Russian oil through Greek ports, ignoring Western sanctions. This is the result of an investigation by the American newspaper The Washington Post. The Pentagon doesn’t know about this because ownership changes hands several times to cover up the Russian trail. Because of this, it is almost impossible to trace the origin of oil.