Oil collapsed to $20-25/barrel during coronapanic and Donald Trump tried to seize the opportunity to buy enough to fill the Strategic Petroleum Reserve. Exactly six years ago, from rollcall:
The last point:
Senate Democrats took credit for stripping out that money from the Senate bill, unveiled Wednesday, calling it a “bailout” for the oil industry.
What happened after Trump was replaced by Team Smart (Biden-Harris)? The SPR was drained to its lowest level since 1985:
AEA… “Biden Drains Strategic Petroleum Reserves Ahead of Midterms”:
As the mid-term election approaches, the Biden administration is reportedly preparing to sell the 14 million barrels of Strategic Petroleum Reserve oil leftover from its 180-million-barrel SPR release program that began in May. It may also release an additional 26 million barrels of SPR oil in fiscal 2023 that began this month, which is required by Congress to raise money to pay for some of its earlier spending. The administration has a few weeks before the midterms to try to lower gasoline prices, or demonstrate that it is trying to do so.
Loosely related, the examples of Why are climate change alarmists also coronavirus alarmists? continue to mount. Democrat Sen. Mark Kelly, pre-war, advocating “action to protect our planet”:
The same Democrat, March 24, 2026, demands low gasoline prices so that Americans will be encouraged to buy 12 mpg SUVs and drive in circles. The most obvious way to reduce carbon emissions is a carbon tax, but Sen. Mark Kelly here advocates removing a carbon tax (that also pays to maintain the roads, thus shifting the tax burden for road maintenance from car owners to people who virtuously live in walkable neighborhoods and don’t use cars):
If Trump had filled reserves with cheap coronapanic oil then Biden would had spent for fake electioneering messaging anyway, he tried.
At this point of time gallon of regular gas on the East Coast is $4 plus/minus a quarter.
Is Arizona new California?