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.

[two_iron]

I don't want that bed-shitting fucktard speculating in the Oil & Gas markets.... not with my money.

It can't even find its way off a stage much less analyze the sophisticated nuances of the international commodities markets.

Buying votes with taxpayer money should be considered TREASON. Just like the student loan forgiveness that stuttering puddle of piss and shit is pushing....

 

[Nostra]

We sold it for $17.3B and will have to buy it back at $14.2B.. That is $3B in profit at that price.

Once again you are leaving out the original cost, moron.

It is scientifically impossible to be as stupid as you are, and yet you are.

 

[Flash]

Damn, that is White of him.

 

[citygator]

Holy shit you are stupid. You have to factor in what it cost to buy the first time. That $95 isn't all profit, dumbass.

It will cost $14 BILLION at the current price to replace what Tater sold for votes.

Ok dumbass here you go.

1. Do nothing. You spent $20 for oil and now you have a barrel of Oil and $20 less.
2. Sell it. You spent $20 for oil then sold it for $95 then bought it again at $79. Now you spent $99 ($79+$20) but you got the $95 you sold it for.. so now you have a barrel of oil and you are only out $2 instead of $20. That is $18 better off which adds up to $3B.


I hope someone does your taxes for you.

 

[citygator]

You are very short sighted

The reserve is for emergencies when the life of the nation could be hanging in the balance

Maintaining Joe biden’s poll numbers pales by comparison

Hasn’t bit us yet. We’ve not used it really ever and the pandemic gas prices was considered an emergency by right wingers such as yourself. A dead resource is just that. Biden eased your gas prices AND made you $3B. You should thank him. But if we need that oil for an emergency you can say I told you so.

 

[citygator]

Holy shit you are stupid. You have to factor in what it cost to buy the first time. That $95 isn't all profit, dumbass.

It will cost $14 BILLION at the current price to replace what Tater sold for votes.

Duh. $95 isn’t all profit but the $95 - $79 is as I showed you one post up. You have drool on your lip.

 

[Edgetho]

I swear. It’s amazing you get through life without hurting yourself. You already have the oil. It’s sitting in a reserve.

If you have 1 barrel of oil in the reserve your choices are:

1. DO NOTHING… you have a barrel of oil
2. SELL IT FOR $95 and buy it back for $79… you have a barrel of oil AND $16.

The problem is -- Sponge Brains Shits Pants did NOT sell it.

He gave it away. Mostly to Europe but an awful, awful lot to Ukraine.

You flunked Math, didn't you? And may I recommend (no shit, I'm serious) --

0. Introduction – A Concise Introduction to Logic

milnepublishing.geneseo.edu

 

[Mac-7]

Hasn’t bit us yet. We’ve not used it really ever and the pandemic gas prices was considered an emergency by right wingers such as yourself. A dead resource is just that. Biden eased your gas prices AND made you $3B. You should thank him. But if we need that oil for an emergency you can say I told you so.

According to the report biden drained 180 million barrels and replace 2.7 million

That leaves us 163 million barrels short

Which is a level of stupidity that not even biden adoring libs can cover up

 

[Papageorgio]

Uh… Ok. Send me $95 and I’ll send you $79. Should be no problem for you since it doesnt create any profit for me or loss for you. Here is my Venmo: #anothernostradumbthread

We could have bought at $22 and sold at $95. But Democrats don’t seem to believe in simple economics of buy low.

 

[citygator]

The problem is -- Sponge Brains Shits Pants did NOT sell it.

He gave it away. Mostly to Europe but an awful, awful lot to Ukraine.

You flunked Math, didn't you? And may I recommend (no shit, I'm serious) --

0. Introduction – A Concise Introduction to Logic

milnepublishing.geneseo.edu

You just made that up. It was sold for $96.25 per barrel. And lets be honest… only one of us has multiple degrees in economics and business from multiple top 5 universities.

 

[Nostra]

Duh. $95 isn’t all profit but the $95 - $79 is as I showed you one post up. You have drool on your lip.

Using your numbers Tater "made" $4 billion, and it will cost over $14 billion to replace it.

That means Tater just cost us $10 billion to keep the same amount of oil in the reserves as before he tried to buy votes, stupid.

 

[citygator]

According to the report biden drained 180 million barrels and replace 2.7 million

That leaves us 163 million barrels short

Which is a level of stupidity that not even biden adoring libs can cover up

That is a fair point. Right now we are flush with $17B in cash and can replace the oil for $14B. That will be $3B in profit. Plus he saved gas consumers about $1B by lowering prices. That is in the past. You can send a thank you note to 1600 Pennsylvania ave.

 

[Nostra]

The problem is -- Sponge Brains Shits Pants did NOT sell it.

He gave it away. Mostly to Europe but an awful, awful lot to Ukraine.

You flunked Math, didn't you? And may I recommend (no shit, I'm serious) --

0. Introduction – A Concise Introduction to Logic

milnepublishing.geneseo.edu

He sold a shit-ton to China and his handler Xi.

 

[citygator]

Using your numbers Tater "made" $4 billion, and it will cost over $14 billion to replace it.

That means Tater just cost us $10 billion to keep the same amount of oil in the reserves as before he tried to buy votes, stupid.

You are simply stupid. He already received $17B. If he buys it back for $14B it’s $3B in profit.

 

[Dragonlady]

Another Joe Biden liberal policy disaster for America.

A drop in the bucket from the amount he released to buy votes in 2022. It's going to cost taxpayers a fortune to replenish to the levels it needs to be. I hope you clowns enjoyed your .02 cheaper gas when it was over $4.00.

Remember when Schumer and the Democrats were crowing about stopping Trump from filling it up at under $20/barrel?

The Biden administration plans to buy 2.7 million barrels of oil to help replenish the nation's much-depleted emergency stockpile.

The planned purchase for the oil is at an average price of $79 per barrel, the Department of Energy said in a statement on Friday.

Biden sold off more than 40% of the Strategic Petroleum Reserve last year to help lower gas prices following the Russian invasion of Ukraine. In total, the White House tapped the reserve four times last year, including when Biden ordered a record-setting 180 million barrels of oil released from the reserve.

The repeated withdrawals left the stockpile at the lowest level since the 1980s, prompting accusations from Republicans that Biden had left the U.S. vulnerable to potential energy threats.

The reserve had 351 million barrels in the week ended November 24, still near the lowest level since 1984, according to the latest Department of Energy data. That is down from about 630 million barrels at the beginning of 2020.

However, it is a notable increase from early 2020, when prices were under $20 per barrel. At the time, former President Donald Trump tried to add 77 million barrels of oil to the emergency oil cache, but he was blocked by congressional Democrats.

Biden administration plans to buy 2.7M oil barrels to refill emergency stockpile

The Biden administration announced on Friday that it plans to buy 2.7 million barrels of oil to help replenishing the nation's Strategic Petroleum Reserve.

www.foxbusiness.com

If the USA is pretty much energy independent at this point, and an oil exporter, because of all of the "drill baby drill" that increased US energy production under Obama by 80%, how has Biden's policy "left the US vulnerable to potential energy threats"?

President Obama’s Support For America’s Shale Oil And Natural Gas

“The natural gas boom has led to cleaner power, and greater energy independence…. Natural gas isn’t just appearing magically…. We’re encouraging it and working with the industry,” Barack Obama, 44th President of the United States.

www.forbes.com

In January of 2020, before the pandemic, US productiton was 12,850,000 barrels per day, and Trump was selling oil to Russia. Production fell to 10,446,000 barrels per day by July of 2020, when Americans were in lockdown. Trump wanted to buy crude oil no one needed or was buying, to prop up crude oil prices for American producers. Just like Trump signed on to production cuts with OPEC, to boost crude oil prices for American oil companies.

Special Report: Trump told Saudi: Cut oil supply or lose U.S. military support - sources

WASHINGTON/LONDON/DUBAI (Reuters) - As the United States pressed Saudi Arabia to end its oil price war with Russia, President Donald Trump gave Saudi leaders an ultimatum.

www.reuters.com

When Joe Biden took office in January of 2021, production was 11,480,000 barrels per day, but by July of 2023 of this year, it's back up to 12,894,000 - higher than it was before the pandemic. No threat to the consumer supply at all.

Biden's policies have both reduced prices to the American consumers and increased prices to producers giving them incentive to continue to boost production.

U.S. All Grades All Formulations Retail Gasoline Prices (Dollars per Gallon)

Nostradumbass most certainly desribes YOU to a T.

 

[Mac-7]

That is a fair point. Right now we are flush with $17B in cash and can replace the oil for $14B. That will be $3B in profit. Plus he saved gas consumers about $1B by lowering prices. That is in the past. You can send a thank you note to 1600 Pennsylvania ave.

If we need the oil to keep the country afloat no one is going to care about a mere $3 billion

 

[Nostra]

You are simply stupid. He already received $17B. If he buys it back for $14B it’s $3B in profit.

So we got it for free the first time around?

Get a refund on those degrees, stupid.

 

[citygator]

We could have bought at $22 and sold at $95. But Democrats don’t seem to believe in simple economics of buy low.

The GOP wanted to carve that purchase out of the stimulus. The Dems wanted the stimulus to go to people not companies. As you can see by the economy it was the right decision. Forget soft landing we’ve had no landing with great GDP growth.

 

[Papageorgio]

If the USA is pretty much energy independent at this point, and an oil exporter, because of all of the "drill baby drill" that increased US energy production under Obama by 80%, how has Biden's policy "left the US vulnerable to potential energy threats"?

President Obama’s Support For America’s Shale Oil And Natural Gas

“The natural gas boom has led to cleaner power, and greater energy independence…. Natural gas isn’t just appearing magically…. We’re encouraging it and working with the industry,” Barack Obama, 44th President of the United States.

www.forbes.com

In January of 2020, before the pandemic, US productiton was 12,850,000 barrels per day, and Trump was selling oil to Russia. Production fell to 10,446,000 barrels per day by July of 2020, when Americans were in lockdown. Trump wanted to buy crude oil no one needed or was buying, to prop up crude oil prices for American producers. Just like Trump signed on to production cuts with OPEC, to boost crude oil prices for American oil companies.

Special Report: Trump told Saudi: Cut oil supply or lose U.S. military support - sources

WASHINGTON/LONDON/DUBAI (Reuters) - As the United States pressed Saudi Arabia to end its oil price war with Russia, President Donald Trump gave Saudi leaders an ultimatum.

www.reuters.com

When Joe Biden took office in January of 2021, production was 11,480,000 barrels per day, but by July of 2023 of this year, it's back up to 12,894,000 - higher than it was before the pandemic. No threat to the consumer supply at all.

Biden's policies have both reduced prices to the American consumers and increased prices to producers giving them incentive to continue to boost production.

U.S. All Grades All Formulations Retail Gasoline Prices (Dollars per Gallon)

Nostradumbass most certainly desribes YOU to a T.

We are talking about strategic reserves, not production, we need a reserves and they are depleted and need to be restocked, it doesn’t matter what we produce it is about strategic reserves, how much we keep.

 

[Nostra]

If the USA is pretty much energy independent at this point, and an oil exporter, because of all of the "drill baby drill" that increased US energy production under Obama by 80%, how has Biden's policy "left the US vulnerable to potential energy threats"?

President Obama’s Support For America’s Shale Oil And Natural Gas

“The natural gas boom has led to cleaner power, and greater energy independence…. Natural gas isn’t just appearing magically…. We’re encouraging it and working with the industry,” Barack Obama, 44th President of the United States.

www.forbes.com

In January of 2020, before the pandemic, US productiton was 12,850,000 barrels per day, and Trump was selling oil to Russia. Production fell to 10,446,000 barrels per day by July of 2020, when Americans were in lockdown. Trump wanted to buy crude oil no one needed or was buying, to prop up crude oil prices for American producers. Just like Trump signed on to production cuts with OPEC, to boost crude oil prices for American oil companies.

Special Report: Trump told Saudi: Cut oil supply or lose U.S. military support - sources

WASHINGTON/LONDON/DUBAI (Reuters) - As the United States pressed Saudi Arabia to end its oil price war with Russia, President Donald Trump gave Saudi leaders an ultimatum.

www.reuters.com

When Joe Biden took office in January of 2021, production was 11,480,000 barrels per day, but by July of 2023 of this year, it's back up to 12,894,000 - higher than it was before the pandemic. No threat to the consumer supply at all.

Biden's policies have both reduced prices to the American consumers and increased prices to producers giving them incentive to continue to boost production.

U.S. All Grades All Formulations Retail Gasoline Prices (Dollars per Gallon)

Nostradumbass most certainly desribes YOU to a T.

Biden has reduced prices to the American consumer?
Gas is twice what it was when Tater took office, vermin.