Saturday, October 22, 2022

Why pay $24 when if you wait it will cost $75? Ask Honorable Sen. Chuckie

 Why pay $24 to refill the Strategic Petroleum Reserve when soon it will cost $75? or more!! Ask Honorable Sen. Chuckie Schumer.

The Democrats' oil folly | Washington Examiner:

Way, way back, in March 2020, then-President Donald Trump proposed to fill the Strategic Petroleum Reserve to its maximum capacity with U.S.-produced crude oil. That would have involved the purchase of 77 million barrels of oil. Trump wanted to act because oil was cheap, about $24 a barrel, and the United States could effectively top off the tank for a very good price.

At Trump's behest, Republicans put money for the oil purchase in a big spending bill that was then under consideration on Capitol Hill. That's when their efforts were stopped cold by Democrats, who labeled Trump's plan a "$3 billion bailout for big oil." This is from Roll Call on March 25, 2020: "The Trump administration's plan to top off the Strategic Petroleum Reserve ran into a blockade ... after lawmakers excluded $3 billion in funding for oil purchases from the massive stimulus package before Congress. Senate Democrats took credit for stripping out that money from the Senate bill ... calling it a 'bailout' for the oil industry." In particular, then-Senate Minority Leader Charles Schumer (D-NY) took personal credit for killing the measure.

Sen. Chuckie "took credit" for the folly. He was in a dangerous situation. If he didn’t kill the deal President Trump might get credit for saving taxpayer money. 

And Pres. S Joe takes the folly even farther:

Biden hates Republicans so much, he would rather give oil money to the dictators in Venezuela and Saudi Arabia than Texas. NY Post

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