President Biden plans for 32 of the 50 million barrels of oil will be returning to the reserve in the following years once fuel prices drop. The other 18 million barrels of oil will be sold ahead of schedule, but the sale of those barrels was already approved by Congress.
“Here’s the answer to his energy crisis: let America produce what we have and need,” McCarthy said.
“Had Joe Biden done nothing, Americans would be better off and paying less at the pump. Instead, one-party rule has decimated American energy production and jobs, McCarthy said. “He killed the Keystone pipeline and greenlit Putin’s Nord Stream II. He begged OPEC for help. Now he wants to tap strategic reserves for his strategic failure.”
McCarthy claims the Democratic party has ruined American energy production and now wants to use the Strategic Petroleum Reserve to try and solve a problem they created.
“Today’s announcement – which will release just three days’ worth of oil onto the market – is not about a real solution to our energy crisis. It is a crass political ploy just ahead of Thanksgiving,” McCarthy said.
McCarthy said the move to release 50 million barrels of oil doesn’t do anything to combat the energy crisis and calls for a boost in energy production here in the U.S.