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Oil prices rose in trading on Tuesday despite news that President Biden will release of 50 million barrels of crude oil from the U.S. Strategic Petroleum Reserve fueling concerns about even higher gas prices in the coming months.
In an unprecedented and highly coordinated move, the U.S. will release its reserves together with China, Japan, India, South Korea and the U.K. The news spooked global energy markets as investors grew worried that the OPEC+ might retaliate by further reducing supply. According to the Administration, the oil may begin moving as early as mid-to-late December.
Crude traded up 2.5% to $78 per barrel as Brent crude moved up more than 3% to over $82 per barrel. Showdown with OPEC+
The Biden team is releasing oil from the U.S. reserves following OPEC+ countries’ refusal to boost production. While more supply with move prices lower, there is geopolitical risk associated with the maneuver as it could prompt a response by OPEC+. The group could scale back its own production — thereby causing a kind of “showdown” in global energy markets.
It is rare to tap strategic reserves as they are designed to be used in times of real emergencies. For example, the U.S. released 60 million barrels following the unrest that disrupted supplies in Libya in 2011.
Nonetheless, with gas prices up 50% from this time last year and Americans increasingly citing inflation as their biggest economic and political concern , the President has been faced with trying to stem the crisis.
Last week Biden attempted to point the finger at the energy companies themselves, questioning whether they might be illegally manipulating prices . In a letter to the Federal Trade Commission’s Lina Kahn, has asked her to examine the issue. U.S. Energy Independence in Danger
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Prior to Biden assuming the Presidency, the U.S. was considered energy “independent” and, as a result of U.S. drilling, was less reliant on the Middle East. However, with the shutdown of the KeyStone pipeline and other ESG efforts to suppress the traditional oil and natural gas industry, there are growing concerns about the future of energy independence as it begins its […]
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Will America-First News Outlets Make it to 2023?
Things are looking grim for conservative and populist news sites.
There’s something happening behind the scenes at several popular conservative news outlets. 2021 was bad, but 2022 is proving to be disastrous for news sites that aren’t “playing ball” with the corporate media narrative. It’s being said that advertisers are cracking down, forcing some of the biggest ad networks like Google and Yahoo to pull their inventory from conservative outlets. This has had two major effects. First, it has cooled most conservative outlets from discussing “taboo” topics like Pandemic Panic Theater, voter fraud, or The Great Reset. Second, it has isolated those ad networks that aren’t playing ball.
Certain topics are anathema for most ad networks. Speaking out against vaccines or vaccine mandates is a certain path to being demonetized. Highlighting voter fraud in the 2020 and future elections is another instant advertising death penalty. Throw in truthful stories about climate change hysteria, Critical Race Theory, and the border crisis and it’s easy to understand how difficult it is for America-First news outlets to spread the facts, share conservative opinions, and still pay the bills.
Without naming names, I have been told of several news outlets who have been forced to either consolidate with larger organizations or who have backed down on covering certain topics out of fear of being “canceled” by the ad networks. I get it. This is a business for many of us and it’s not very profitable. Those of us who do this for a living are often barely squeaking by, so loss of additional revenue can often mean being forced to make cuts. That means not being able to cover the topics properly. Its a Catch-22: Tell the truth and lose the money necessary to keep telling the truth, or avoid the truth and make enough money to survive. Those who have chosen survival simply aren’t able to spread the truth properly.
We will never avoid the truth. The Lord will provide if it is His will. Our job is simply to share the facts, spread the Gospel, and educate as many Americans as possible while exposing the forces of evil.
To those who have the means, we ask that you please donate. We have options available now, but there is no telling when those options will cancel us. We have our GivingFuel page. There have been many who have been canceled by PayPal, but for now it’s still an option. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!
JD Rucker