A report by ZeroHedge alleges that President Joe Biden’s administration is draining the Northeast Gasoline Supply Reserve in a bid to force down gasoline prices ahead of the presidential election in November:
“Back in March, when reading the mammoth, 1050-page bill that was meant to avert government shutdown, but was yet another pork filled free-for-all bonanza authorizing $1.7 trillion in in discretionary spending, we stumbled upon something that was truly shocking: after Biden singlehandedly drained half of the US strategic petroleum reserve to avoid obliteration for Democrats in the 2022 midterm elections, Congress has snuck in a provision that would sell off and shutter the Northeast Gasoline Supply Reserve, a move that while perhaps keeps gas prices lower for a day or two, would also leave the entire continental northeast defenseless to any true environmental catastrophe or shock.
“We were so dismayed by the inclusion of this particular text, we wondered if it hadn’t been put there solely for the benefit of America’s enemies… because surely nobody in their right mind, not even the illegitimate senile occupant of the White House, would ever pursue such short-term gains at the expense of potentially disastrous long-term consequences to the entire nation.
“We were wrong: earlier today, just two months after the bill was signed by Biden into law, the panicking administration announced that it would sell the nearly 1 million barrels of gasoline in the US managed stockpile in northeastern states, the Department of Energy said, effectively closing the reserve.
“The department created the Northeast Gasoline Supply Reserve (NGSR) in 2014 after Superstorm Sandy left motorists scrambling for fuel. But, according to some megabrains hoping to justify the dumping of gas so its price drops for a few weeks ahead of the summer and avoid even more anger aimed at the president, storing refined fuel is costlier than storing crude oil, so closing the reserve was included in U.S funding legislation signed by President Joe Biden in March.”
To read the entire article by ZeroHedge, please click HERE.
