Progressive-Democrat President Joe Biden now plans to buy 2.7 million barrels of oil to put back into our oil strategic reserve.

Couple things about that.

We had 630 million barrels of oil in our strategic reserve before Biden took office and started selling it to the People’s Republic of China while claiming he was doing it to slow the gasoline price inflation his spending was causing. As recently as 24 November last, our reserve was down to 351 million barrels. According to my second grade arithmetic, that means Biden had reduced our reserve by 279 million barrels in just those two years and 10 months. My third grade arithmetic tells me that those 27 million barrels he’s buying for the reserve is just 1% of what he’s taken out of it. Which makes buying that oil an insulting effort to distract us with his pretense of refilling our reserve after his dangerous reduction.

The other thing is that he’s buying that oil at $79/barrel, which means he’s spending $213.3 million to buy that 1%. To replace all 279 million barrels, he’ll have to pay more than $22 billion at those $79 per. When the prior administration (the Trump administration for those following along at home) refilled the reserve after the Obama admin draw-down, Trump’s buyers paid $30-$55 per barrel. Call it, for this back of the envelope estimate, an average of $42.5 per barrel. At that price, Biden could replace the oil he removed for a total cost of $11.8 billion dollars. Bidenomics is going to cost us ordinary American taxpayers more than $10 billion at today’s actual price. That is, if Biden follows through on refilling our strategic oil reserve.

Update: third grade arithmetic tells me that those 27 million barrels should have been third grade arithmetic tells me that those 2.7 million barrels. Fershlugginer keyboard….