Department of Energy to Release Millions of Barrels of Oil From Reserve to Combat Surging Gas Prices

The Department of Energy (DOE) announced Tuesday the release of millions of barrels of oil from the Strategic Petroleum Reserve (SPR) to combat soaring gas prices.

The DOE approved the release of 13.4 million barrels from its SPR, marking the second-largest exchange from the reserve and bringing the total amount of oil released from the cache to almost 40 million barrels.

Exchange contracts for the released oil have were awarded to seven companies. President Joe Biden authorized a plan in November 2021 to release 50 million barrels of crude oil from the SPR in a coordinated effort with China, India, Japan, South Korea and the U.K. to combat surging gas prices and assist in the COVID-19 pandemic recovery.

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Commentary: Remembering Pearl Harbor … Accurately

Most Americans once were mostly in agreement about what happened on December 7, 1941, 80 years ago this year. But not so much now, given either the neglect of America’s past in the schools or woke revisionism at odds with the truth. 

The Pacific war that followed Pearl Harbor was not a result of America egging on the Japanese, not about starting a race war, and not about much other than a confident and cruel Japanese empire falsely assuming that its stronger American rival either would not or could not stop its transoceanic ambitions. 

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Biden Asks Asian Countries to Release Oil Reserves as Administration Scrambles to Combat High Gas Prices: Report

Joe Biden

The Biden administration asked China, Japan, South Korea and India to tap into their emergency oil reserves as the president continues to grapple with rising gasoline prices, Reuters reported.

The effort to simultaneously release oil reserves represents a rebuke of the Organization of the Petroleum Exporting Countries (OPEC), the cartel that controls oil production throughout the Middle East, several anonymous sources familiar with the request told Reuters on Wednesday. OPEC has repeatedly rejected requests from President Joe Biden and other top administration officials to increase oil production amid rising gasoline prices.

The four Asian nations the president appealed to represent some of the largest energy consumers and greenhouse gas emitters, according to a University of Oxford database.

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Texas Education Agency Opens Backdoor to ChiCom Surveillance of Students Through Virtual Tutorial Firm

  The Texas Education Agency contracted with a virtual-tutorial marketing company through the end of the 2022-2023 school year that relies on tutorial services from VIPKids, the Beijing-based company backed by the Chinese technology conglomerate Tencent tied to surveillance and censorship. “We believe all students deserve equal access to rigorous…

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Shinzo Abe, Japan’s Longest-Serving Prime Minister, Announces His Resignation

Prime Minister of Japan Shinzo Abe announced his decision to step down from the post Friday, citing the return of a health problem, the Associated Press reported.

“It is gut-wrenching to have to leave my job before accomplishing my goals,” Abe said during a news conference announcing his decision, mentioning ongoing tensions with North Korea and a border dispute with Russia.

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Commentary: With a Japan Trade Deal and a Strong U.S. Economy, Where Is the Trade Depression People Predicted?

Readers will recall that in the 2016 election and since then financial and political analysts were tripping over themselves to predict that if President Donald Trump won and implemented his planned trade agenda, which included tariffs, why, we’d have a global recession perhaps even as bad as the Great Depression.

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President Trump Nominated for Nobel Peace Prize

Reuters   Japanese Prime Minister Shinzo Abe is not saying whether or not he nominated Donald Trump for this year’s Nobel Peace Prize, but the question may be moot: the U.S. president has been put forward by others for the prestigious award. During a White House news conference on Friday,…

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While Know-It-Alls Lecture on Tariffs Against China, Trump Dials Up New Trade Deals with UK, Europe and Japan

by Robert Romano   While President Donald Trump continues to bring the pressure to China, so far with 10 percent tariffs on $200 billion of Chinese goods shipped to the U.S., rising to 25 percent in Jan. 2019, which comes atop another 25 percent tariff on $50 billion of goods…

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