Energy and commodities writer Javier Blas at Bloomberg News revealed that, this week, the United States hit an all-time record of crude and refined oil products it is exporting.
Only twice in history has the number jumped above 10 million barrels per day and this week captured one of those days, setting the record.
CHART OF THE DAY: The U.S. exported a RECORD amount of crude and refined oil products last week, surging above 10 million b/d for the only 2nd time ever. \n\nThe U.S. is acting as the barrel of last resort to a global energy market hungry for oil | #OOTTpic.twitter.com/HvrrL7pVRW— Javier Blas (@Javier Blas) 1650465732
This happens at a time that Republicans have complained that there is an energy crisis. According to the GOP leaders, there is an oil shortage that is causing the increase in gas prices while blaming President Joe Biden for restricting drilling.
"President Biden is covering for his own self-made energy crisis," whined Sen. Ted Cruz at the end of March. "This is the third release of oil from the Strategic Petroleum Reserve in under a year. Since day one, Biden has waged war on American energy by killing the Keystone pipeline, halting oil and gas leases, and increasing burdensome regulations on fossil fuels."
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Biden responded by saying that there are thousands of leases that oil companies were granted but that they aren't using now. In fact, Biden released 34 percent more drilling leases than former President Donald Trump did in his first year. Now, Biden is coming under fire from climate activists because he agreed to open up federal lands for drilling. It was a campaign promise he is breaking.
As White House press secretary Jen Psaki explained in a briefing, the Keystone pipeline doesn't actually create oil, it just delivers it. At the same time, the pipeline hasn't even been built yet, so it would have no help in solving a problem happening today.
The existing Keystone Pipeline already delivers oil from the Alberta Tar Flats all the way through refineries in Cushing, Oklahoma, Port Arthur and Houston. Texas. It also delivers oil to Steel City, Nebraska, pictured in this story about a leak that led to 17,000 gallons of oil being dumped on South Dakota. The Texas Tribune posted photos in 2013 of the pieces of the pipeline being built in Ted Cruz's own state.
"If Americans entrust House Republicans with the majority, we will focus on real solutions to lower gas prices, not ridiculous political spin that won’t solve our energy crisis," claimed House Republican Leader Kevin McCarthy (CA). He didn't explain what that plan was, however. It's unknown if the GOP would return to purchasing Russian oil if they take over the House and Senate in November.
