A little more than a month ago the Department of Energy canceled the purchase of about 3 million barrels of oil for the SPR due to prices rising above what had been the government's $79 per barrel target for West Texas Intermediate at which it wanted to buy oil back.
A little more than a month ago the Department of Energy canceled the purchase of about 3 million barrels of oil for the SPR due to prices rising above what had been the government's $79 per barrel target for West Texas Intermediate at which it wanted to buy oil back.
Dick head, I didn't say presidents, I told you to post your Orange God's policies and all you can do is run that DS. Post his policy or STFU.
How does one get that stupid?
From your link. "The global energy system is in transition to a new energy order characterized by the emergence of the United States as a net oil exporter,"
Look in the mirror, idiot.
Your stupidity was exposed in the post previous to your latest response. You look like to fool you are. I knew you are dumb, but I didn’t think you were that dumb.
Dumbass, I am just waiting for you to post Trump's energy policy. We are 12 pages in and all you keep doing is running that DS.
obamawhitehouse.archives.gov
www.forbes.com
www.politico.com
Buying oil from OPEC, Venezuela or whomever as a strategy to keep up with demand makes US dependent on foreign oil. If alternative energy sources can run the economy like oil does then let’s see it. I’m all for it. Until then, I don’t care if domestic Oil companies have record profits and record production. If gas is hovering close to $3.75 and above, that’s a problem for the American consumer.You need to track the OPEC+ Production Agreements, wherein OPEC sets production limits and prices for crude oil. And how Trump agreed to allow OPEC+ to keep production at pandemic levels to keep the supply low as the demand increased post pandemic. Trump signed on so American oil companies could profit from high oil prices.
Oil Nations, Prodded by Trump, Reach Deal to Slash Production (Published 2020)
The deal will reduce output by 9.7 million barrels a day. While significant, the cut falls far short of what is needed to bring oil production in line with demand.www.nytimes.com
The vaccines were about to go into arms and Trump had already lost the election in December of 2020 when Trump signed the agreement. American oil companies made record profits. And Trump got to **** over the American people who voted him out of office, and as a bonus, Biden was blamed when gas prices soared.
Biden has steadily cut OPEC and their agreements off at the knees. By releasing the National Reserve, Biden succeeded in both lowering the price of gas in the USA, but he sold the national reserve at the then current crude oil price, earning a massive profit for the American People.
No less than Rupert Murdoch's Wall Street Journal called Joe Biden theh "oil trader extraordinaire". Biden held off replacing the National Reserve until production exceed pre-pandemic levels, waiting for the price of crude to come back down, and then bought slowly, to keep prices stabile.
Now Joe Biden has done it again, with this Venezuelan deal. Buying oil from Venezuela does two things for the USA. It allows Biden to continue to restock the National Reserve at rock bottom prices, and to allow US suppliers to sell all of their oil to consumers to keep competition going and prices falling.
At the same time, it helps to stabilize the Venezuelan economy, and hopefully keep economic refugees from fleeing the country. Those of you who say, it's not your problem, are the same people who are ***** whininig about "illegal immigrants over running your country".
To me, it looks like another foreign policy and energy policy win/win situation for the Biden-Harris administration. Imagine what Joe could have been capable of if he wasn't so senile he doesn't know what day it is.
Well STFU up whining about high gas prices.
Do you enjoy paying high gas prices?
