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Petroleum Reserves

Will Biden Shoot Himself In The Foot To Impose Sanctions On Russia?

April 3, 2022 Nauman Sadiq, Popular Resistance. , , , ,
On Thursday, President Joe Biden ordered the largest release ever from the US emergency oil reserve in a futile attempt to bring down gasoline prices that have soared to record levels following the Russo-Ukraine War. Starting in May, the United States will release 1 million barrels per day (bpd) of crude oil for six months from the Strategic Petroleum Reserve (SPR), amounting to 180 million barrels in total, which is equivalent to only two days of the global demand. Invoking the fabled trope of American patriotism, Biden urged the consumers not to hesitate from paying twice the amount while filling gas tanks in order for the military-industrial complex to reap billions of dollars windfalls by providing anti-aircraft and anti-armor munitions to NATO’s proxies in Ukraine.

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