Biden starts buying low priced oil for Strategic Reserve - bravo!

[San Souci]

Hey, Souci. Speaking to what you just said, but not being an oil guy, myself, and while glad we probably aren't continuing the strategic reserve sale at this time, but could be buying and replenishing starting now, be construed to be a political payoff to the petroleum industry (the graft you mention)? If buying for the reserve at these market futures prices, be a price support for the industry, assuring return on their continued investment and maintaining price and thereby easy profit? I say this, as I am used to hearing the anti-Biden, anti-Democrat folks on here, weeping wailing and gnashing their teeth that Joe did not do something (whatever the heck they thought he could do) to make the industry produce more, faster and at lower cost. At the same time, I did not hear actual industry leading corporation and operations heads, raising hell at the Biden administration. Mind you, it is a staple here, and there are plenty of businessmen or former businessmen here, but none that I know of from responsible positions in that industry.

How is this? Take the mufflers off. Ditch the "Green New Deal". The USA has its own fossil fuel. Enough to last 200 years at full capacity. We do not NEED Foreign Oil or coal. Now ,this is just a projection ,but I believe we will have a working FUSION Reactor within that time. On the order of 50 years. ---Solar has been proven to be worthless at running our full power output. Same with wind. --Now ,I would suggest 100% Committment in more R&D in FUSION. Also , Hydrogen Peroxide engines should be investigated. Since it WORKS ,and is used as Rocket Fuel ,it could be converted to internal combustion. Let the Drafting Board boys work on that. Byproducts? Oxygen and water. Comments?

 

[White 6]

How is this? Take the mufflers off. Ditch the "Green New Deal". The USA has its own fossil fuel. Enough to last 200 years at full capacity. We do not NEED Foreign Oil or coal. Now ,this is just a projection ,but I believe we will have a working FUSION Reactor within that time. On the order of 50 years. ---Solar has been proven to be worthless at running our full power output. Same with wind. --Now ,I would suggest 100% Committment in more R&D in FUSION. Also , Hydrogen Peroxide engines should be investigated. Since it WORKS ,and is used as Rocket Fuel ,it could be converted to internal combustion. Let the Drafting Board boys work on that. Byproducts? Oxygen and water. Comments?

Are you proposing a revamp and creating a domestic market, not selling on the international market? That is probably the only way we were guaranteed a 200 year supply.

I don't like coal. It is nasty in burning and disposal at best. Nothing like coming over the mountain above Birmingham, seeing the pink smog and feeling the burning of your eyes, back in the 70s.

I am not a green new deal person, but alternative fuels need to be developed. My preference is for Nuclear and especially Nuclear Fusion. I kind of thing the green new dealers would not agree with my position, but who cares.

 

[San Souci]

Are you proposing a revamp and creating a domestic market, not selling on the international market? That is probably the only way we were guaranteed a 200 year supply.

I don't like coal. It is nasty in burning and disposal at best. Nothing like coming over the mountain above Birmingham, seeing the pink smog and feeling the burning of your eyes, back in the 70s.

I am not a green new deal person, but alternative fuels need to be developed. My preference is for Nuclear and especially Nuclear Fusion. I kind of thing the green new dealers would not agree with my position, but who cares.

Domestic. Coal? It is necessary for making Steel. Oil? ANWAR probably has a bigger pool than the Arabian Peninsula. Remember ,I said on the order of 50 years for FUSION. Hydrogen Peroxide? If full R&D was a committment , I would estimate on the CLOSE order of 10 years. And more efficient than Tessla-Mobiles. BTW--Banking is my background.

 

[Leo123]

That sounds like bullshit to me, but I was just a business guy.

I provided a link earlier in this thread

 

[White 6]

Domestic. Coal? It is necessary for making Steel. Oil? ANWAR probably has a bigger pool than the Arabian Peninsula. Remember ,I said on the order of 50 years for FUSION. Hydrogen Peroxide? If full R&D was a committment , I would estimate on the CLOSE order of 10 years. And more efficient than Tessla-Mobiles. BTW--Banking is my background.

We have no need to touch ANWAR and never did. Not to say, if these other alternatives do not come online fast enough (decades) it might not become necessary, but it certainly is not necessary now, as anything more than a symbol of power to place oil and gas production beyond the consideration of thoughts of conservation of wildlife, wilderness area and other natural values. I am 68. There will be no need, most likely, in my lifetime. If these other alternatives sources of energy come on line, with luck, it will never have to be raped to keep the lights on.

 

[San Souci]

We have no need to touch ANWAR and never did. Not to say, if these other alternatives do not come online fast enough (decades) it might not become necessary, but it certainly is not necessary now, as anything more than a symbol of power to place oil and gas production beyond the consideration of thoughts of conservation of wildlife, wilderness area and other natural values. I am 68. There will be no need, most likely, in my lifetime. If these other alternatives sources of energy come on line, with luck, it will never have to be raped to keep the lights on.

I am saying there is no need to spend hundreds of Billions on Foreign Oil when we have our own. And there is no need to be "Tilting at Windmills" ,to use a pun. Solar and Wind are worthless. Too much space with too little return. Besides ,the elements for Solar batteries comes from China , who are raping African countries for them.

 

[White 6]

I am saying there is no need to spend hundreds of Billions on Foreign Oil when we have our own. And there is no need to be "Tilting at Windmills" ,to use a pun. Solar and Wind are worthless. Too much space with too little return. Besides ,the elements for Solar batteries comes from China , who are raping African countries for them.

Oil companies buy and sell on the international market at and for the most advantageous price and always have. We can and will again achieve net independence (an almost mythical point in modern times), but you and I will not see a time when foreign oil is not imported by somebody for something, just to make a buck and maintain. Anybody that actually think this is not true, is living in a fantasy world, or wanting to set a different market only responding to different market influences, and it will not happen, nor do we need it.

 

[San Souci]

Oil companies buy and sell on the international market at and for the most advantageous price and always have. We can and will again achieve net independence (an almost mythical point in modern times), but you and I will not see a time when foreign oil is not imported by somebody for something, just to make a buck and maintain. Anybody that actually think this is not true, is living in a fantasy world, or wanting to set a different market only responding to different market influences, and it will not happen, nor do we need it.

All I am saying is ,take the gloves off. There is no need to buy Foreign Oil when we have our own.---And ,once again , take ALL money being wasted on Solar ,Wind ,and other boondoggles ,and SPEND it on something feasible. Suggestion? For NOW? Build more FISSION Reactors. We already know how to do this.

 

[EvilCat Breath]

How much did it cost when it was filled?

$26.00

 

[Markle]

We have no need to touch ANWAR and never did. Not to say, if these other alternatives do not come online fast enough (decades) it might not become necessary, but it certainly is not necessary now, as anything more than a symbol of power to place oil and gas production beyond the consideration of thoughts of conservation of wildlife, wilderness area and other natural values. I am 68. There will be no need, most likely, in my lifetime. If these other alternatives sources of energy come on line, with luck, it will never have to be raped to keep the lights on.

Drilling for oil in ANWR is not raping ANWR. It does, as you know, provide us with independence from countries that hate us. ANWR will remain barren land and we will retain our independence. That's a good thing.

 

[White 6]

Drilling for oil in ANWR is not raping ANWR. It does, as you know, provide us with independence from countries that hate us. ANWR will remain barren land and we will retain our independence. That's a good thing.

We will anyway, and without raping ANWR.

 

[citygator]

WHY DIDNT TRUMP BUY OIL WHEN IT WAS CHEAP?

Anyone? Anyone?

 

[citygator]

I am saying there is no need to spend hundreds of Billions on Foreign Oil when we have our own. And there is no need to be "Tilting at Windmills" ,to use a pun. Solar and Wind are worthless. Too much space with too little return. Besides ,the elements for Solar batteries comes from China , who are raping African countries for them.

Our refineries aren’t built for our oil. You’d have to build new refineries. No one is doing that.

 

[Deplorable Yankee]

Either Biden is very lucky or as smart as they come. His release of oil at the high and buying into the low has helped American consumers as much as any President could.. and making billions. Yes billions. God bless him.

U.S. begins buying back oil for strategic petroleum reserve -official

The U.S. Energy Department said on Friday it will begin buying back oil for the Strategic Petroleum Reserve, or SPR, the first purchase since this year's record 180 million barrel release from the stockpile.

www.reuters.com

The White House said in October it would buy back oil for the SPR when prices at or below about $67-$72 per barrel, a bit below where U.S. benchmark futures were trading on Friday at about $75.

The Energy Department said buying oil back at about current prices is "an opportunity to secure a good deal for American taxpayers by repurchasing oil at a lower price than the $96 per barrel average price it was sold for, as well as to strengthen energy security."

What deal the incompetent us government has with domestic producers no idea

Most of our imported oil come from canaduh at a steep discount anyway .....

 

[Whodatsaywhodat.]

Kindly share with us the legislated purpose of the Strategic Petroleum Reserve.

I do realize that you are being facetious and laughing your butt off watching some folks taking you seriously.

Nobody takes that idiot seriously . It is a top 10 propagandist on this site ... and a pathological liar.

 

[citygator]

Kindly share with us the legislated purpose of the Strategic Petroleum Reserve.

I do realize that you are being facetious and laughing your butt off watching some folks taking you seriously.

“The Strategic Petroleum Reserve (SPR), the world's largest supply of emergency crude oil was established primarily to reduce the impact of disruptions in supplies of petroleum products and to carry out obligations of the United States under the international energy program. “

The impact of disruptions are high prices. Ukraine and OPEC cutbacks are disruptions. Make a bank load of profit is just upside.

 

[Markle]

“The Strategic Petroleum Reserve (SPR), the world's largest supply of emergency crude oil was established primarily to reduce the impact of disruptions in supplies of petroleum products and to carry out obligations of the United States under the international energy program. “

The impact of disruptions are high prices. Ukraine and OPEC cutbacks are disruptions. Make a bank load of profit is just upside.

The only reason there was a disruption was the policy changes made by President Biden. All that needed to be done was to reverse his executive orders. Even you know that to be true but wouldn't admit it under threat of a sharp stick in the eye.

Either you are that ignorant or you are feigning ignorance. Do you deny President Biden took these actions?

Here are 25 decisions the president has made over the last year that have affected gas prices, home heating costs, and other energy-related burdens U.S. families and businesses face.

#1 and 2: Adopting new EPA oil and gas rules​

In November 2021, the Environmental Protection Agency announced new regulations governing methane emissions from oil and gas production, transmission, storage, and distribution that would cost more than $1 billion a year.

Last spring, Biden signed a resolution that overturned Trump administration reforms to EPA oil and gas rules. This resolution will worsen energy poverty, reestablish burdensome regulations, and have a disproportionate impact on small businesses.

#3, #4, #5, #6, #7, and #8: Restricting or impeding energy projects​

One of Biden’s first actions after taking office was to halt new oil and gas leases on federal lands and waters, the Biden administration has delayed decisions on these leases — a move that results in higher energy costs for the most vulnerable consumers.

The administration canceled the Keystone XL pipeline and suspended oil and gas leases in the Arctic National Wildlife Refuge and New Mexico (despite opposition from the Navajo Nation). It also resurrected the “Waters of the United States” rule, which would increase barriers to energy projects.

The White House is pursuing new standards for particulate matter and ozone, likely tightening them to unachievable levels for much of the country and creating new barriers for energy project permits.

The president also has rescinded Endangered Species Act reforms, a move that will increase red tape and allow litigation to slow down energy projects.

25 Biden policies raising gas prices and other energy costs - Americans for Prosperity

 

[citygator]

The only reason there was a disruption was the policy changes made by President Biden. All that needed to be done was to reverse his executive orders. Even you know that to be true but wouldn't admit it under threat of a sharp stick in the eye.

Either you are that ignorant or you are feigning ignorance. Do you deny President Biden took these actions?

Here are 25 decisions the president has made over the last year that have affected gas prices, home heating costs, and other energy-related burdens U.S. families and businesses face.

#1 and 2: Adopting new EPA oil and gas rules​

In November 2021, the Environmental Protection Agency announced new regulations governing methane emissions from oil and gas production, transmission, storage, and distribution that would cost more than $1 billion a year.

Last spring, Biden signed a resolution that overturned Trump administration reforms to EPA oil and gas rules. This resolution will worsen energy poverty, reestablish burdensome regulations, and have a disproportionate impact on small businesses.

#3, #4, #5, #6, #7, and #8: Restricting or impeding energy projects​

One of Biden’s first actions after taking office was to halt new oil and gas leases on federal lands and waters, the Biden administration has delayed decisions on these leases — a move that results in higher energy costs for the most vulnerable consumers.

The administration canceled the Keystone XL pipeline and suspended oil and gas leases in the Arctic National Wildlife Refuge and New Mexico (despite opposition from the Navajo Nation). It also resurrected the “Waters of the United States” rule, which would increase barriers to energy projects.

The White House is pursuing new standards for particulate matter and ozone, likely tightening them to unachievable levels for much of the country and creating new barriers for energy project permits.

The president also has rescinded Endangered Species Act reforms, a move that will increase red tape and allow litigation to slow down energy projects.

25 Biden policies raising gas prices and other energy costs - Americans for Prosperity

- Trump (Covid impact & low prices) put hundreds of wells out of business cutting output by 2M barrels
- Trump negotiated 2M barrel reduction from OPEC
-4M fewer barrels available and then Biden opened up the US by distributing Trump’s vaccine
-Price goes up with new demand and lower output
- Output has recovered the bulk of the 2M (got 1.7M back) and number of wells have doubled under Biden
- OPEC still under producing under the Trump agreement.


All of that is indisputable.

 

[JimH52]

Either Biden is very lucky or as smart as they come. His release of oil at the high and buying into the low has helped American consumers as much as any President could.. and making billions. Yes billions. God bless him.

U.S. begins buying back oil for strategic petroleum reserve -official

The U.S. Energy Department said on Friday it will begin buying back oil for the Strategic Petroleum Reserve, or SPR, the first purchase since this year's record 180 million barrel release from the stockpile.

www.reuters.com

The White House said in October it would buy back oil for the SPR when prices at or below about $67-$72 per barrel, a bit below where U.S. benchmark futures were trading on Friday at about $75.

The Energy Department said buying oil back at about current prices is "an opportunity to secure a good deal for American taxpayers by repurchasing oil at a lower price than the $96 per barrel average price it was sold for, as well as to strengthen energy security."

And MAGA is too stupid to realize what he did. The US made BILLIONS in this deal.

 

[AzogtheDefiler]

Yes. Futures measure in months, not long term.

How many months?