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Did Biden’s Inflation Reduction Act Revive The U.S. Housing Market?

by Market FinancePosted onSeptember 15, 2022September 15, 2022

Did Biden's Inflation Reduction Act Revive The U.S. Housing Market?

Democrat Blunder Costs America Billions

President Biden and his administration is now looking to refill the Strategic Petroleum Reserve, which they drained, for oil that costs just below $80 a barrel.

However, Democrats refused to let former President Donald Trump refill the Strategic Petroleum Reserve when oil was costing just $24 per barrel.

These are the foolish and ridiculous decision Democrats make that makes Americans angry.

According to Bloomberg, in March President Biden released a whopping 180 million barrels of oil from the strategic reserve to lower gas prices.

What’s angering is that in March of 2020, Trump attempted to refill the Strategic Petroleum Reserve when oil was costing just $24 a barrel and he and the Republicans proposed spending $3 billion to fill up the reserve. Democrats learned about the decision and created a political firestorm about the plan.

The reserve currently has 442 million barrels of oil which is the lowest it has been since 1984. Now if Biden tries to fill it up it will cost President Biden $87.31.

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Published by Market Finance

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