Look, I'm Helping: Brandon Regime to Sell off 1M Barrels of Gasoline in NorthEast...

[Bill]

....to try and lower prices at the pump.

This is an emergency stockpile, oddly enough created under Obama, after Superstorm Sandy, in case of another big hit. Unlike oil, refined gasoline stocks would have to be rotated periodically.

https://nypost.com/2024/05/21/us-new...fore-election/

Biden to sell off 1M barrels of gasoline held in reserve to keep prices low before election
By Social Links for Steven Nelson
Published May 21, 2024
Updated May 21, 2024, 6:43 p.m. ET

WASHINGTON — The Biden administration announced Tuesday that it will sell off 1 million barrels of gasoline held in case of emergencies — with the Energy Department explicitly citing an interest in keeping gas prices low over the summer driving season ahead of the November election.

The fuel will be released from the Northeast Gasoline Supply Reserve, a component of the Strategic Petroleum Reserve that was established in 2014 after Superstorm Sandy disrupted gasoline supplies in the New York City area.
The Biden administration announced it will sell off 1 million barrels of gasoline held in case of emergencies.

“The Biden-Harris Administration is laser-focused on lowering prices at the pump for American families, especially as drivers hit the road for summer driving season,” Energy Secretary Jennifer Granholm said in a statement.

“By strategically releasing this reserve in between Memorial Day and July 4th, we are ensuring sufficient supply flows to the tri-state and northeast at a time hardworking Americans need it the most.”

Critics including congressional Republicans slammed Biden’s move as an attempt to buy votes — after making similar allegations about Biden’s attempt to forgive hundreds of billions of dollars in federally owned student loan debt in the runup to the election.

Sen. Mike Lee (R-Utah) accused Biden of “yet again using America’s emergency fuel reserves to cover for his disastrous inflationary policies in an election year.”

“Releasing 1 million barrels of gasoline from the Northeast reserve is a desperate move by Joe Biden to lower prices that HE raised,” tweeted Sen. Marsha Blackburn (R-Tenn.).”This reserve is meant for emergencies, not as a cover-up for Biden’s failed economic policies.”
The US used about 8.94 million barrels of gasoline per day as of 2023. 4
Approximately 8.94 million barrels of gasoline were used per day in America as of 2023. REUTERS

Skeptics noted that the complete draining of the Northeast reserve, which was authorized in a March government spending bill, was unlikely to significantly impact prices — which currently average $3.60 per regular gallon, up from roughly $2.38 when Biden took office and $3.54 at this time last year, according to AAA data.

The US used about 8.94 million barrels of gasoline per day as of 2023, according to the US Energy Information Administration, meaning that Tuesday’s release would cover fewer than three hours of average US consumption.

“A cynical political move. Like a drop in the ocean,” wrote one X user.

Staten Island Rep. Nicole Malliotakis (R-NY) tweeted, “He should just reverse his damaging anti-energy policies.”

“Depleting our emergency reserves while discouraging domestic production. Such a winning strategy!” tweeted Gabriella Hoffman, energy and conservation director of the Independent Women’s Forum.

“Under [former President Donald] Trump, it was ‘drill, baby, drill.’ Under Biden, it is ‘drain, baby, drain,’” tweeted Charles Correll III, a speechwriter for Sen. John Barrasso (R-Wyo.).