It's Wednesday, May 22nd, 2024.

Good news and bad news on the Strategic Petroleum Reserve.

Red Lobster is cooked in an ow my balls update next on the AM update.

Tomorrow, Thursday, is another edition of Ask or Tell Me Anything.

A day early this week, I'm taking along a Memorial Day of Vacation Weekend off on Friday,

back again with a fresh update on Tuesday, Evergreen for this show on Monday.

But tomorrow will be Asker Tell Me Anything. Ask me any question you want. Tell me any news story that needs to be covered, whether it's nationally or

in your neck of the woods. Again, that's tomorrow on the AM update. Make your submissions over

on X at Real AM Update. Look for the pinned treat. And now on with the Wednesday edition so we have good

news and bad news when it comes to the strategic petroleum reserve or the strategic gasoline reserve

whatever you want to call it apparently there are gasoline reserves that the united states has

regionally all across the country the good news is that those have not all been tapped by the

Biden administration the bad news is yesterday the Biden administration

attempted to tap the rest of those strategic reserves. The administration said it's releasing

one million barrels of gasoline from a northeast reserve established after Superstorm Sandy at a bid

to lower prices at the pump this summer. The sale from storage sites in New Jersey and Maine will be allocated in increments of 100,000 barrels at a time. The approach will create a competitive bidding process that ensures gasoline can flow into local retailers ahead of Independence Day and sold at competitive prices. That's according to the Department of Energy. The move which the department department said, is intended to help lower costs for American families and consumers,

follows a mandate from Congress to sell off the 10-year-old Northeast Reserve and then close it.

Again, that reserve of gasoline is 10 years old.

Assuming it's the same gasoline that was stored 10 years ago, I highly doubt that.

But assuming it is, well, gasoline

has like a three to six, maybe a year-long shelf life. So we'll see how that works out. Biden

commented on the matter or something. I'm not sure. I don't think he's sure yesterday.

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