U.S. President Biden's Administration continues to risk national security by taking millions of barrels from the US Strategic Petroleum Reserve and shipping it abroad to Asia (including China) and Europe.

More than 5 million barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices hit record highs.

The export of crude and fuel is blunting the impact of the moves by U.S. President Joe Biden to lower record pump prices.

About 1 million barrels per day is being released from the Strategic Petroleum Reserve (SPR) through October. The flow is draining the SPR, which last month fell to the lowest since 1986. (Source.)

And this situation just grew much worse, as today it was announced that the Biden Administration has actually shipped MORE liquid natural gas (LNG) to Europe than the U.S. even promised!

When U.S. President Joe Biden promised European leaders in March that he would help secure new supplies of liquefied natural gas to offset shortages from Russia's invasion of Ukraine, his pledge was greeted with scepticism.

After all, the U.S. LNG industry was already hitting its export limits and the global market is dominated by long-term contracts that can dictate where exported gas would go for twenty years at a time.