‘Pipin’ Hot’: Fox Business Gleefully Reports on Record U.S. Oil Production

O GRADY Speaking of ░░░░░░░░ as we just were ░░░░░░░░ now the U S ░░░░░░░░ pumping oil at a ░░░░░░░░ hot pace It s ░░░░░░░░ track to produce more ░░░░░░░░ than any country has ░░░░░░░░ world history The U ░░░░░░░░ is producing an average ░░░░░░░░ 13 3 million barrels ░░░░░░░░ day of crude and ░░░░░░░░ so far this quarter ░░░░░░░░ to S P Global ░░░░░░░░ Insights That is a ░░░░░░░░ daily record But despite ░░░░░░░░ production the Biden Administration ░░░░░░░░ just agreed to buy ░░░░░░░░ oil to help replenish ░░░░░░░░ Strategic Petroleum Reserve Jeff ░░░░░░░░ has more on the ░░░░░░░░ So Jeff what price ░░░░░░░░ the Biden Administration pay ░░░░░░░░ Well Kelly if you ░░░░░░░░ looking at the SPR ░░░░░░░░ a means of generating ░░░░░░░░ I guess for the ░░░░░░░░ it wasn t a ░░░░░░░░ deal Put the numbers ░░░░░░░░ It was 3 million ░░░░░░░░ as you point out ░░░░░░░░ at 77 a barrel ░░░░░░░░ the administration would point ░░░░░░░░ that is quoting them ░░░░░░░░ well below the average ░░░░░░░░ about 95 dollars a ░░░░░░░░ that SPR crude was ░░░░░░░░ for and they say ░░░░░░░░ amounts to a good ░░░░░░░░ for taxpayers The question ░░░░░░░░ you know is the ░░░░░░░░ really to get a ░░░░░░░░ deal or is it ░░░░░░░░ be a strategic reserve ░░░░░░░░ at the chart you ░░░░░░░░ maybe just how much ░░░░░░░░ SPR has been drained ░░░░░░░░ than 200 million barrels ░░░░░░░░ we re at like ░░░░░░░░ where we were when ░░░░░░░░ started out roughly half ░░░░░░░░ if you look at ░░░░░░░░ in hard numbers we ░░░░░░░░ way from where we ░░░░░░░░ in 2009 when the ░░░░░░░░ hit its all time ░░░░░░░░ 726 million barrels of ░░░░░░░░ in there In January ░░░░░░░░ 2021 when President Biden ░░░░░░░░ office we were at ░░░░░░░░ million barrels and now ░░░░░░░░ re approaching half that ░░░░░░░░ million barrels And all ░░░░░░░░ the experts that look ░░░░░░░░ this say at least ░░░░░░░░ think most all of ░░░░░░░░ say it s time ░░░░░░░░ we get more oil ░░░░░░░░ in that reserve especially ░░░░░░░░ Listen Clip starts KROSBY ░░░░░░░░ ve got to replenish ░░░░░░░░ the Middle East has ░░░░░░░░ a quagmire and it ░░░░░░░░ be really awful globally ░░░░░░░░ have the luxury of ░░░░░░░░ energy independent That is ░░░░░░░░ of the major major ░░░░░░░░ for our economy Clip ░░░░░░░░ FLOCK And Kelly as ░░░░░░░░ pointed out at the ░░░░░░░░ we are now pumping ░░░░░░░░ mean despite all the ░░░░░░░░ about the Biden Administration ░░░░░░░░ perhaps the desire of ░░░░░░░░ people in that administration ░░░░░░░░ kind of do away ░░░░░░░░ oil some day we ░░░░░░░░ now pumping more oil ░░░░░░░░ we ever have in ░░░░░░░░ and more than any ░░░░░░░░ has ever pumped in ░░░░░░░░ month in history So ░░░░░░░░ know sometimes you can ░░░░░░░░ keep a good man ░░░░░░░░ man or woman if ░░░░░░░░ re in the oil ░░░░░░░░ somewhere. They’re pumpin’.”