Biden to replenish 2.7 million barrels of oil out of the 180 million he released from the Strategic Oil Reserves at over $79/barrel.

[Nostra]

According to your link, the cost on the $95 was $75.

So I'll take you up on that because I already paid $75 of that $95 sales price. I'll send you the $20 difference and you send me the $79 to replace it.

: crickets:

 

[Lesh]

how much was the original purchasing price, you always leave out that detail.

Irrelevant. We sold it for well above that and are repurchasing replacement at well below what we sold it for

 

[Harpy Eagle]

Irrelevant. We sold it for well above that and are repurchasing replacement at well below what we sold it for

have we not already been down this road....

Really....



Lets say you bought 100 widgets for 30 bucks a piece which cost you $3000
Then you sold them for 95 bucks for a total of $9500, which means you made $6500 in profit.

Then you turned around and bought the same 100 widgets back for 75 bucks each, costing you $7500.

In the end you have the same amount of widgets but lost money in the process.

 

[Nostra]

Citygator has only accounted for 5% of the sales, but let's run with his numbers.

Made $20 per barrel on 180,000 barrels.

Replaced same 180,000 barrels at $79 each.

Claims we made a profit.

 

[citygator]

: crickets:

It’s not been sold yet dipshit. That’s what Mac-7 pointed out earlier which is true.

 

[citygator]

Citygator has only accounted for 5% of the sales, but let's run with his numbers.

Made $20 per barrel on 180,000 barrels.

Replaced same 180,000 barrels at $79 each.

Claims we made a profit.

Says repurchasing Nostradumbass. Learn to read.

 

[citygator]

how much was the original purchasing price, you always leave out that detail.

It doesn’t matter. Use a purchase price you want. The math is the same. Initially you traded oil for money. You have an asset. That asset increases in value. Then you sell high and rebuy low. The math is the same.

 

[Harpy Eagle]

It doesn’t matter. Use a purchase price you want. The math is the same. Initially you traded oil for money. You have an asset. That asset increases in value. Then you sell high and rebuy low. The math is the same.

Lets say you bought 100 gallons of oil for 30 bucks a piece which cost you $3000

Then you sold them for 95 bucks for a total of $9500, which means you made $6500 in profit.

Then you turned around and bought another 100 gallons of oil for 75 bucks each, costing you $7500.

In the end you have the same amount of oil but lost money in the process. In order to make money off the whole process you would have to buy the new oil at under 65 bucks.

 

[citygator]

Lets say you bought 100 gallons of oil for 30 bucks a piece which cost you $3000

Then you sold them for 95 bucks for a total of $9500, which means you made $6500 in profit.

Then you turned around and bought another 100 gallons of oil for 75 bucks each, costing you $7500.

In the end you have the same amount of oil but lost money in the process. In order to make money off the whole process you would have to buy the new oil at under 65 bucks.

No. You were out $3000 when you bought the oil. You now have oil but don’t have $3000.

Then you sold them and now you have $9500 and no oil.

Then you bought them again for $7500 and now you have oil plus you have $2000 in the bank. You see? You have the oil and money. Before you had oil but you were out $3000. You made $5000 on your transaction because you went from owing $3000 to having $2000 extra.

 

[Nostra]

Says repurchasing Nostradumbass. Learn to read.

What price did Tater sell the other 95% at? We know he gave China a discount.

 

[Lesh]

have we not already been down this road....

Really....



Lets say you bought 100 widgets for 30 bucks a piece which cost you $3000
Then you sold them for 95 bucks for a total of $9500, which means you made $6500 in profit.

Then you turned around and bought the same 100 widgets back for 75 bucks each, costing you $7500.

In the end you have the same amount of widgets but lost money in the process.

That assumes that your goal is to own widgets and never sell or use them. In that scenario you want them to have the lowest average cost.

But just owning widgets is not the goal.

Those widgets were used (in this case to lower the cost of market oil and maintain/grow jobs) and have been replaced at a cheaper price than they were sold for

 

[Nostra]

That assumes that your goal is to own widgets and never sell or use them. In that scenario you want them to have the lowest average cost.

But just owning widgets is not the goal.

Those widgets were used (in this case to lower the cost of market oil and maintain/grow jobs) and have been replaced at a cheaper price than they were sold for

Is that one of the reasons given to use the SOR?

Nooe.

 

[citygator]

DIVERSION ALERT!

Sure. If you have a car and I offered to give you $100k for it but you have to buy it back from me for $80k you’d say you’re losing money.

 

[Nostra]

What price did Tater sell the other 95% at? We know he gave China a discount.

: crickets:

 

[Father O'Blivion]

This thread sure illustrates how Trump is able to dupe his cultists so easily.

Wow.

 

[Nostra]

Link us up to the date of release and this 24 cent drop in gas prices citygator

: crickets: