Biden Energy Advisor Admits to Transition Scheme Targeting Oil
One of President Joe Biden’s medium-term objectives is to make oil scarce. Despite the US being the world’s top oil producer, many people are confused about why gas prices are so high. We now have information from a government official.
That will have repercussions as early as next year when Biden plans to begin replenishing the Strategic Petroleum Reserve that he has been raiding since winning the election. He anticipates that oil companies will sell him a sizable quantity of oil at a price of about $70 per barrel to replace the inventories he has depleted. Why should they, then, is the question.