Biden's use of oil reserves could drive up price

 Daily Caller:

President Joe Biden’s Department of Energy (DOE) is emptying the Strategic Petroleum Reserve (SPR) of a crucial kind of oil that domestic refiners can easily process, which could cause oil prices to skyrocket, experts told the DCNF.

American refiners prefer medium-sour crude as they can easily process it into gasoline and other fuel products, according to Bloomberg. The DOE released 4.6 million barrels of medium-sour crude oil from the SPR in late July, meaning that the reserve now has more light-sweet crude than sour — 235 million barrels to 234.9 million — which could raise fuel costs, experts say. (RELATED: ‘Pretty Shameful’: Biden Admin Has Sold Nearly 6 Million Barrels Of Strategic Oil Reserves To China)

“It is going to cause major problems down the road,” Tracy Shuchart, a partner at Intelligence Quarterly, told the Daily Caller News Foundation.

Domestic refiners lack the ability to refine light-sweet crude, a different type of oil that has a much lower density and sulfur content, so sweet crude has to be refined overseas, according to Marketplace.

“As they deplete our stores, refineries will have to become dependent on those sources or make costly changes to their operations,” Institute for Energy Research Senior Vice President Dan Kish told the DCNF.

“Those changes also take a long time, idling U.S. capacity when they’re already running all-out,” he said.
...

Biden has been deliberately driving up the cost of energy from day one and then blaming energy companies.  What this shows is that he is still at it and he is threatening US national security at the same time. 

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