Records: Biden Coordinated Emergency Oil Release With Already Forecasted Price Dip, Then Took Credit

Records: Biden Coordinated Emergency Oil Release With Already Forecasted Price Dip, Then Took Credit


President Joe Biden took credit for knocking a few cents off of record-high oil prices after withdrawing millions of barrels from the nation’s emergency strategic petroleum reserves (SPR), but records show his Department of Energy actually timed the first drawdown of the emergency oil supply to coincide with an already forecasted decline in oil prices.

According to internal documents obtained by the Functional Government Initiative (FGI) through the Freedom of Information Act (FOIA), administration officials acknowledged agency assessments that predicted a drop in oil prices ahead of the first SPR release in November 2021.

The White House announced the first withdrawal of 50 million barrels of oil from the nation’s emergency stockpile on Nov. 23, 2021, days before the Thanksgiving holiday as drivers faced

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