There will probably be enough of it to last through the midterm election, of course – because Biden and the Democrats are desperate for a win. But after that, all bets appear to be off.
Right now, the fake “president” is draining America’s strategic emergency energy reserves in an attempt to hold back fuel inflation from going even higher than it already is. He is also promising to buy back oil “at some unknown point in the future,” one report explains, which may or may not happen.
In an attempt to buy more votes for his fellow political cronies, the Dementia King is desperately trying to cover up the fact that America’s energy future is dire. Supplies will dwindle as prices go straight up, it appears – but not until after the midterms. (Related: Back in the summer, diesel exhaust fluid (DEF) and diesel itself were not making it to Pilot Flying J fuel stations because of Union Pacific’s reduced rail shipments.)
The last time diesel supplies were this low was in 2008 before the market crash
Never before have America’s diesel supplies been as low as they currently are for this time of year. Official government data shows a major supply deficit that will soon unleash energy hell on America.
The U.S. Energy Information Administration (EIA) says the country has just a 25-day supply of diesel fuel remaining – the lowest since 2008. Inventories hit a record low at the same time that the four-week rolling average of distillates supplied – a proxy figure for demand – rose to its highest seasonal level since 2007.
“In short, record low supply (courtesy of stifling regulations that have led to a historic shortage of refining capacity) meet record high demand,” reports Zero Hedge.
“What comes next is, well, ugly (while weekly demand dipped slightly in the latest week, it’s still at highest point in two years amid higher trucking, farming and heating use).”
As the Northern Hemisphere enters the cold winter season, these facts spell hell for not only the U.S. but North America and the rest of the industrialized world.
So many systems and economic sectors are intertwined on a global scale that the loss of diesel fuel here will create a domino effect all around the world. It truly does appear as though Biden’s promised dark winter is about to arrive.
“… such low levels are alarming because diesel is the workhorse of the global economy,” writes Javier Blas for Bloomberg.
“It powers trucks and vans, excavators, freight trains and ships. A shortage would mean higher costs for everything from trucking to farming to construction.”
National Economic Council Director Brian Deese added in a statement to Bloomberg TV that U.S. diesel inventories are “unacceptably low” and “all options are on the table” to increase supplies while reducing retail prices.
The Biden regime seems unconcerned about the matter, though. All it seems to care about is keeping the house of cards propped up until the election, after which all hell could break loose.
Other than draining the country’s strategic petroleum reserves (SPR) to create the illusion that things are good enough, the Biden regime is doing absolutely nothing to try to avoid this impending nightmare scenario, which is fast approaching.
American refineries, meanwhile, are raking in record-high diesel margins from all the chaos. The profits associated with turning a barrel of crude oil into one barrel of diesel hit a record high of $86.5 per barrel recently, up about 450 percent from the 2000-2020 average of $15.7 per barrel.
Is America on the verge of an energy (and economic) collapse? Learn more at Collapse.news.
Sources for this article include: