RE: American Petroleum Reserves

Biden didn't cut off oil production. You can't cut off something that does not exist. The Keystone wasn't operational, cutting off applications for permits doesn't cut off existing operating wells. I am not defending all that just listing common sense facts. Even if the Keystone became operational tomorrow along with ten new wells there wouldn't be a refining capacity for it. If you did like I advised and went and read my last op you'd see India expanded refining capacity to the tune of eight new refineries and the expansion of two others over the last few years. We are sending just as much oil to India as China, which China has also expanded their refining capabilities. So did Trump. It's as black as white as it can get in that regard.

Common mathematics would tell you that it's more likely than not that Trump did send our reserves to China. Ask yourself this common sense question. If you were going to send something to China would you first order it from Saudi Arabia than send it or would you send it directly from you house to China. Which makes more sense? Consider also that oil in the reserve cost substantially less than oil imported for domestic use. The average cost of oil into the runs is 29.70 a barrel. That's pretty cheap. Biden and Trump could continue to keep doing what they were doing just by getting the Saudi's to sign a replacement agreement. So it's highly possible that Biden comes back without a current contract for immediate replacement of that oil as long as he has secured a replacement contract for the oil that's all it takes to keep selling our reserves. All Biden is doing is exactly what Trump agreed to do in the energy transition promise to Europe, nothing more, nothing less. He's right in line with the amounts transferred during the Trump administration with natural gas exports being slightly higher, but that's not surprising given they are trying to make enough natural gas into Europe before the end of the year.