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

[citygator]

View attachment 739775

There were 9 million threads about the strategic reserve. I’m getting ready to hit a few of them up based their dire predictions that didn’t come true.

This is one thread about the smart business plan by Biden.

 

[Auld Phart]

1944Why do you hate $3.6B in profit Biden is squeaking out?

What profit?

the SPC was created in 1944

Are you claiming oil was $96 a barrel then?

It was increased during the embargo of the 70s.

Are you claiming oil was $96 a barrel then?

History of the Strategic Petroleum Reserve

The Strategic Petroleum Reserve or SPR is an emergency stockpile of oil located in salt caverns in Texas and Louisiana Gulf Coasts. Learn more abou...

www.energy.gov

 

[citygator]

What profit?

the SPC was created in 1944

Are you claiming oil was $96 a barrel then?

It was increased during the embargo of the 70s.

Are you claiming oil was $96 a barrel then?

History of the Strategic Petroleum Reserve

The Strategic Petroleum Reserve or SPR is an emergency stockpile of oil located in salt caverns in Texas and Louisiana Gulf Coasts. Learn more abou...

www.energy.gov

If I loaned you my car I paid $40k for and you sold it for$96k and then bought another for $76k and gave it back to me you’d have $20k in profit even though I paid less originally. Duh.

 

[Synthaholic]

 

[citygator]

Woo hoooo. Good for America regardless of one’s politics.

 

[Synthaholic]

Joe Biden is God's gift to America!

 

[Sunni Man]

Average price paid for oil in the strategic reserve in December of 2007
was - $29.70 per barrel

SPR Quick Facts

This page lists Quick Facts for the Strategic Petroleum Reserve.

www.energy.gov

Liberal loon's that think bozo Biden made a profit when refilling the reserve, seriously need to take an elementary level class in basic business economics. ...

 

[Markle]

If I loaned you my car I paid $40k for and you sold it for$96k and then bought another for $76k and gave it back to me you’d have $20k in profit even though I paid less originally. Duh.

 

[Sunni Man]

If I loaned you my car I paid $40k for and you sold it for$96k and then bought another for $76k and gave it back to me you’d have $20k in profit even though I paid less originally. Duh.

Please tell me that you're not serious and just trolling?
Even a 12 year old kid would know the guy lost $36k replacing your car.

 

[Indeependent]

Math on this is selling at $96 and buying at $76 is $3.6B profit! Profit is king.

Too bad we sent that money and way more to NATO and Ukraine.

 

[citygator]

Please tell me that you're not serious and just trolling?
Even a 12 year old kid would know the guy lost $36k replacing your car.

At first you have 180 million barrels of oil.

Then you have 180 million barrels of oil plus $3.6B.

 

[citygator]

Average price paid for oil in the strategic reserve in December of 2007
was - $29.70 per barrel

SPR Quick Facts

This page lists Quick Facts for the Strategic Petroleum Reserve.

www.energy.gov

Liberal loon's that think bozo Biden made a profit when refilling the reserve, seriously need to take an elementary level class in basic business economics. ...

At first you have 180 million barrels of oil.

Then you have 180 million barrels of oil plus $3.6B.

 

[citygator]

Too bad we sent that money and way more to NATO and Ukraine.

At first you have 180 million barrels of oil.

Then you have 180 million barrels of oil plus $3.6B.

 

[Indeependent]

At first you have 180 million barrels of oil.

Then you have 180 million barrels of oil plus $3.6B.

That does not address the issue of having a war monger in the White House.

 

[citygator]

That does not address the issue of having a war monger in the White House.

Start a thread on that. This thread is about the great business mind of Biden.

 

[Indeependent]

Start a thread on that. This thread is about the great business mind of Biden.

You mean this Thread is Satire.

 

[Markle]

Start a thread on that. This thread is about the great business mind of Biden.

Yeah, great business mind. Using your son and brother to sell influence to our enemies.

 

[Woodznutz]

What happens to the price of oil in the coming months will determine whether or not Biden has made a good deal. Most savvy investors wait for a bottom before they buy. With recession predicted it might be prudent to wait a while before committing to a price now (although the SPR will likely be filled incrementally over time).

 

[Markle]

What happens to the price of oil in the coming months will determine whether or not Biden has made a good deal. Most savvy investors wait for a bottom before they buy. With recession predicted it might be prudent to wait a while before committing to a price now (although the SPR will likely be filled incrementally over time).

Regardless of what happens to the price of oil, it was a terrible thing to do. It is the STRATEGIC OIL RESERVE, not the "try to cover up my gross energy failure" reserve.

 

[Woodznutz]

Regardless of what happens to the price of oil, it was a terrible thing to do. It is the STRATEGIC OIL RESERVE, not the "try to cover up my gross energy failure" reserve.

What's done is done. Thankfully we're now going to recover the SPR.