Biden Administration announces a 2nd sale of American Oil reserves.... to foreign countries?

[Harpy Eagle]

Did that law say Trump had to sell the oil to China?

The law says it has to be put up for auction and sold to the highest bidder, whomever that might be

 

[Harpy Eagle]

I realize I'm risking humiliation by asking what might be deemed a stupid question BUT,.. how the fuck does this lower gas prices!?

Gas prices are based roughly on the global price of oil.

The price of oil is largely based upon the amount of oil to be sold and the demand for it.

When you add the the amount to be sold, it tends to lower the price of oil, which in turn normally lowers the price of gasoline.

With all of that said, it is still a stupid idea as that is not the point of our SPR.

 

[Dogmaphobe]

Globilly Joe Jumped Off the Tallahatchie Bridge

With Poke Salad Annie

 

[Clyde 154]

I guess the reason is terribly simple.Because Biden can do whatever
the Hell he likes.And Pay absolutely no price.Except his approval
rating/polling.
I guess since he knows as a practicing Catholic he's bound to Hell.
For his rigid polices of Abortion On Demand.
He's got 90% + backing in D.C. Plus the MSM.
Nearly all Climate Change Elites.Plus Davos and Bilderbergers.
World Economic Forum and probably the Club of Rome.
Even Greta Thunberg may be on board any Biden agenda.
Unless she's not quite finished with puberty.

Approval ratings and actual cast votes mean nothing..........now that the democrats have found the keys to the kingdom......MAIL IN BALLOTS which can be manufactured without any legal oversight whatsoever, according to the judicial system of 2020. Look for a sudden spike in COVID 19 or the latest excuse MONKEY POX.

I find it funny as hades...................in 2000 the left attempted every method under the sun to stop from counting Military Mail in Ballots, now they are fighting to allow non-citizens to cast mail in ballots without oversight.....all that is required, a licience to drive in the large liberal strongholds. Between the Xerox Machine and Illegal Aliens.........Biden and company in a landslide.

 

[iamwhatiseem]

I realize I'm risking humiliation by asking what might be deemed a stupid question BUT,.. how the fuck does this lower gas prices!?

It doesn't

 

[iamwhatiseem]

It passed the House 392 to 26 and the Senate 94 to 5....but yeah it was all Obama!

Yuo said it was Trump... and that is different cause....?

 

[Harpy Eagle]

Yuo said it was Trump... and that is different cause....?

Did I though?

 

[iamwhatiseem]

Did I though?

Did I?
I said it was signed under the Obama admin, I didn't say Obama did it all.
I also said Trump could have rescinded it by executive order.
And I also know the times were different then, we were not in a fuel crises then.
It makes sense to sell off some of the reserves I would think, because guessing it goes bad after so long? I don't know.
If they sold some under Trump to China - also bad. Not as bad as now, because WE need it to curb OUR high prices. It's not like China, if the situation was reversed, would help us out. Yeah hell no.

 

[Hang on Sloopy]

Second round of treason by this administration for selling America's emergency reserves to the highest bidder.
As we know, last time it was China that did the buying, and no doubt will again along with other foreign countries.
Someone explain to me how this isn't a treasonous act?

White House announces sale of additional 20 million barrels of oil from Strategic Petroleum Reserve

The Department of Energy is issuing a notice to sell 20 million additional barrels of oil from the Strategic Petroleum Reserve, as part of an effort to lower gas prices.

www.foxbusiness.com

Hilarious. Wait until we need it

 

[Harpy Eagle]

I also said Trump could have rescinded it by executive order.

Can an EO rescind a law passed by Congress?

If they sold some under Trump to China - also bad. Not as bad as now, because WE need it to curb OUR high prices. It's not like China, if the situation was reversed, would help us out. Yeah hell no.

That is not the way oil works. Our gas prices are based on the global price of oil, so adding oil to the mix, no matter where it goes should bring down the global price of oil.

I think Biden is wrong to use the SPR for that, it is not its purpose.

 

[Moonglow]

Second round of treason by this administration for selling America's emergency reserves to the highest bidder.
As we know, last time it was China that did the buying, and no doubt will again along with other foreign countries.
Someone explain to me how this isn't a treasonous act?

White House announces sale of additional 20 million barrels of oil from Strategic Petroleum Reserve

The Department of Energy is issuing a notice to sell 20 million additional barrels of oil from the Strategic Petroleum Reserve, as part of an effort to lower gas prices.

www.foxbusiness.com

Are any laws being broken? I do believe the GOP pushed for the export of US oil in 2015, the Dems wanted to stop sales of US oil in March yet the GOP said no, but now you people want to play the fool and act like it was ok that Trump sold US reserves to overseas source but when Biden does it it is a crime...What a bunch of maroons.

 

[Moonglow]

Hilarious. Wait until we need it

We don't need it which is why it is exported because it is sold to the highest bidder, why does that sound almost capitalistic, those dastardly demons.

 

[Hang on Sloopy]

We don't need it which is why it is exported because it is sold to the highest bidder, why does that sound almost capitalistic, those dastardly demons.

It is called a RESERVE for a reason.........Not to suck it dry

 

[Moonglow]

It is called a RESERVE for a reason.........Not to suck it dry

I doubt it is ever ran dry, it is sour crude.

 

[Road Runner]

It doesn't

Oh good, I thought that I was missing something.

 

[The Sage of Main Street]

With Poke Salad Annie

Globilly Joe Never Had a Lick of Sense; Pass the Biscuits, Please

 

[Marener]

Globilly Joe Never Had a Lick of Sense; Pass the Biscuits, Please

We are selling oil reserves when prices are high and will replenish it in the future when prices are lower.

The government will probably make money off of it.

 

[Rogue AI]

Explain why it is treasonous.

Was it treasonous when the previous Admin sold it in the same manner?

Were gas prices nearly double than less than two years ago under any administration since Carter? That whataboutism doesn't cut it.

 

[beautress]

What a filthy rotten bastard! And no one in Washington lifts a finger to stop this treasonous bastard!

He's acting like a man who has nobody to account to, least of all taxpayers.

 

[Harpy Eagle]

Were gas prices nearly double than less than two years ago under any administration since Carter? That whataboutism doesn't cut it.

The selling of the oil is for the purpose of helping gas prices, how is that treasonous?

As I have said many times, I do not agree with him doing so, even if it works that is not the purpose of the SPR.