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

[Indeependent]

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

Sure thing when China is suffering from a massive COVID outbreak and their factories that supply us with goods have no workers.

 

[Leo123]

Typical Democrat thinking...Create a problem where none existed, sell assets to 'fix' the problem they themselves created then brag about what a good job they are doing buying those assets back. It's really unbelievable the way some of you lefty dunderheads think.

 

[AzogtheDefiler]

Point observed and correct, but I am still glad there is plan to start refilling the reserve.

Why do we need a reserve? Biden said he would end all fossil fuels?

 

[White 6]

Why do we need a reserve? Biden said he would end all fossil fuels?

BS. You haven't believe political statements like that since you were a teen or before.

 

[Leo123]

Why do we need a reserve? Biden said he would end all fossil fuels?

Biden thought we didn't need a reserve, until he was told to think we needed a reserve. He's so incapable it ain't funny.

 

[White 6]

Biden thought we didn't need a reserve, until he was told to think we needed a reserve. He's so incapable it ain't funny.

Where did you hear Biden say, he didn't think we needed a reserve? I didn't hear it.

 

[AzogtheDefiler]

BS. You haven't believe political statements like that since you were a teen or before.

That’s the point. He is a liar.

 

[Harpy Eagle]

If you sold an asset for $96 and repurchased for $76 the original cost of that asset doesn’t matter.

We are losing money. You cannot ignore the price initially paid.

 

[Harpy Eagle]

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.

But nobody loaned us the oil, we paid for it.

 

[citygator]

But nobody loaned us the oil, we paid for it.

Do the exercise I just laid out. It will clear it up. You are overthinking it.

I want you to take out some coins and follow the transaction with cents.

1. Take 55 cents out of your pocket and put it on the table.
2. Now give your friend 55 cents and have your friend give you a cup of vegetable oil.
3. Then have your friend give you 96 cents and give them the cup of oil.
4. Then give your friend 76 cents, keep the 20 cents on the table and take the cup of oil back.
5. You now magically have the same cup of oil and 20 cents. Basically you paid 35 cents for that oil as you put the 20 back in your pocket

 

[Leo123]

Where did you hear Biden say, he didn't think we needed a reserve? I didn't hear it.

Biden is a purely political animal, of course he's not going to TELL you but we know by his actions and his words regarding fossil fuel. He said he was going to get rid of fossil fuels, killed our fossil fuel sector by rescinding Trump's EO's lifting regulatory blockades to oil rich Federal land, then he panicked when high gas prices threatened Democrat re-elections and drained the reserve to falsely lower gas prices. Obviously he doesn't give a shit about the strategic reserve, it is only a tool for him to use to hold on to political power.

 

[citygator]

Why do we need a reserve? Biden said he would end all fossil fuels?

To make profit clearly. Sell high buy low. Go Biden.

 

[Leo123]

To make profit clearly. Sell high buy low. Go Biden.

There was never a need to 'sell' it until he totally fucked our fossil fuel sector. His actions have caused vast economic malaise. Someone finally told him he better drain our reserve so Democrats didn't get nailed in the last election for hiking gas prices, food prices and everything else that has to be delivered by trucks.

 

[White 6]

That’s the point. He is a liar.

I grew up in Kentucky, so my expectations of absolute truthfulness of politician statement whether talking out of one or both sides of their mouth is most likely skewed. It would help you to watch and learn to discern between pandering to groups for votes and whether you really ever think they will follow through. Let see, Production is up. Drilling rig count is up. Prices dropping at the pump. Planning to purchase to resupply the strategic reserve. Petroleum industry profits up.
Boy! That Joe Biden has really been hard on that industry, since the petroleum production crash in the last year of the Trump administration.

 

[citygator]

There was never a need to 'sell' it until he totally fucked our fossil fuel sector.

Worldwide? How did he affect prices world wide? Can’t wait for this explanation.

 

[White 6]

Biden is a purely political animal, of course he's not going to TELL you but we know by his actions and his words regarding fossil fuel. He said he was going to get rid of fossil fuels, killed our fossil fuel sector by rescinding Trump's EO's lifting regulatory blockades to oil rich Federal land, then he panicked when high gas prices threatened Democrat re-elections and drained the reserve to falsely lower gas prices. Obviously he doesn't give a shit about the strategic reserve, it is only a tool for him to use to hold on to political power.

He is a steward of our Federal lands. The Alaska wildlife preserve had not had time to be destroyed by the petroleum industry and Joe, preserved the largest rainforest in North America, and we are still the largest producer on the planet, last I heard. Cheer up.

 

[Leo123]

He is a steward of our Federal lands. The Alaska wildlife preserve had not had time to be destroyed by the petroleum industry and Joe, preserved the largest rainforest in North America, and we are still the largest producer on the planet, last I heard. Cheer up.

No one was destroying any wildlife reserve. Except for maybe wind turbines.

Six New Papers Reveal A Hushed-Up ‘Green’ Reality: Wind Turbines Destroy Habitats​

Six New Papers Reveal A Hushed-Up ‘Green’ Reality: Wind Turbines Destroy Habitats

Six new papers expose the systematic destruction of natural ecosystems after the installation of wind turbines, from wildlife to habitat destruction.

climatechangedispatch.com

Biden doesn't give a shit about Alaska anyway...

Biden May Be About to Sign Off on a Huge Alaska Oil Drilling Project​

Biden May Soon Approve Huge Alaska Oil Drilling Project

The Willow project in Alaska's North Slope would produce 180,000 barrels a day. Biden may approve it any day now.

time.com

Guess Trump was right all along.

The Keystone pipeline is a plus for the environment​

The Keystone pipeline is a plus for the environment

The Trump administration approved a permit for the controversial Keystone XL project Friday morning — a whopping 3,108 days after Trans-Canada first applied to the State Department to build the cro…

nypost.com

 

[Markle]

He is a steward of our Federal lands. The Alaska wildlife preserve had not had time to be destroyed by the petroleum industry and Joe, preserved the largest rainforest in North America, and we are still the largest producer on the planet, last I heard. Cheer up.

That's just goofy.

 

[AzogtheDefiler]

To make profit clearly. Sell high buy low. Go Biden.

He doesn’t sell it. He releases it.

 

[AzogtheDefiler]

I grew up in Kentucky, so my expectations of absolute truthfulness of politician statement whether talking out of one or both sides of their mouth is most likely skewed. It would help you to watch and learn to discern between pandering to groups for votes and whether you really ever think they will follow through. Let see, Production is up. Drilling rig count is up. Prices dropping at the pump. Planning to purchase to resupply the strategic reserve. Petroleum industry profits up.
Boy! That Joe Biden has really been hard on that industry, since the petroleum production crash in the last year of the Trump administration.

That’s not how it works though