An expert on gas prices mocked Rep. Lauren Boebert, R-Colo., on Tuesday for launching a nonsensical attack on President Joe Biden’s recent decision to restock the Strategic Petroleum Reserve.

A couple of days ago, Boebert attacked Biden for buying up 3 million oil barrels to restock the reserve after he sold off an estimated 180 million barrels earlier this year in an effort to lower spiking gas prices.

“Trump stocked up our reserves at record-low prices,” she wrote on Twitter. “Then, Biden emptied it out to get through the midterms. Now, he’s going to stock it back up at a MUCH higher price.”

But Patrick De Haan, a gas price tracker who in the past has been critical of Biden for not doing enough to boost the gasoline supply, pointed out in response that the Strategic Petroleum Reserve is now buying back oil barrels at a significantly lower rate than what it sold them for earlier this year.

“Average selling price $96 [at the time of the sales], including some sales close to $120, and the price today is $75,” he wrote in response. “You’re not the best at math.”

He also noted that the Strategic Petroleum Reserve saw a net decline in barrels during Trump’s tenure, dropping from 695 million barrels in 2017 to 634 million by 2021.

Brad Reed

Source link

You May Also Like

Nuclear conflict with North Korea “more possible” than 5 years ago: Admiral

The possibility of the U.S. engaging in a nuclear conflict with North…

Texas Rangers win first World Series title with 5-0 win over Diamondbacks in Game 5

Mitch Garver broke a scoreless tie with an RBI single in the…

Detroit synagogue president found stabbed to death outside home

The president of a Detroit synagogue was found stabbed to death outside…

NYC lawmakers suing Adams over Floyd Bennett Field migrant shelter call for round-the-clock protest at site

City Councilwoman Joann Ariola and State Assemblywoman Jaime Williams — who are…