Biden’s Scheme is “Cynical and Manipulative”

May 31, 2023

by James Rickards Daily Reckoning

This is a financial newsletter, not a political one, much less a partisan one. But politics affects markets. And if I come across as partisan when weighing in on politics, so be it.

But it’s based upon objective analysis. Having gotten that disclaimer out of the way, let’s get started…

The Biden administration is playing political games with one of America’s most critical national security assets — the Strategic Petroleum Reserve (SPR).

This is not the first time. In fact, it’s a continuation of political oil price manipulation begun in early 2022 in an effort to manipulate the mid-term elections in favor of Democrats.