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.

[citygator]

Biden sold 180 million barrels of oil for a $4 billion "profit", and must spend over $14 billion to replace that same oil.

"Economics major" Citygator claims Tater made us money.

You need some help with math. I hope you are just trolling.

 

[citygator]

A profit? Where is the profit in $3 billion of new deficit spending?

Well. Next time someone takes you $17B of their money for $14B of yours, you just say no. Ok?

 

[citygator]

I'm not "trying" to argue anything. I proved my argument using citygator numbers.

Tater sold 180 million barrels of oil and the net result is it will cost us over $10 billion more to replace it than what he "made" from the sale. Helluva price to pay for the few votes he bought with that scheme.

Keep on demonstrating your lack of intellect. I think it’s hilarious.

 

[Nostra]

You need some help with math. I hope you are just trolling.

Where am I off on those numbers, Simp?

YOU posted he profited $4 billion on the sale of 180 million barrels. At the price he is replenishing those 180 million barrels at it will cost us over $14 billion.

 

[Nostra]

Well. Next time someone takes you $17B of their money for $14B of yours, you just say no. Ok?

Once again you ignore the cost of the oil that went into that $17 billion, Simp.

Take that out and you get the $10 billion cost to taxpayers to replenish what Tater sold to China etc....

 

[citygator]

Where am I off on those numbers, Simp?

YOU posted he profited $4 billion on the sale of 180 million barrels. At the price he is replenishing those 180 million barrels at it will cost us over $14 billion.

Profit of $3B is after you pay back the $14B. It’s covered. $3B is left over. You either know that and are playing around or you don’t have a 3rd grade education.

 

[Nostra]

Profit of $3B is after you pay back the $14B. It’s covered. $3B is left over. You either know that and are playing around or you don’t have a 3rd grade education.

Once again you ignore the original cost of the 180 million barrels.

When you sell something for a profit, and then replace it with the same thing and you have to spend more than you profited it is a net loss, Dumbass.

In this case we are looking at a net loss of $10 billion using the price Tater is now replacing the oil with.

Holy shit how many times does this need to be explained to you, moron?

 

[LAUGHatLEFTISTS]

So math really ain't your thing then. Cool.

Also:
View attachment 867384

RACISM!
The inevitable surrender post.

 

[Hollie]

Well. Next time someone takes you $17B of their money for $14B of yours, you just say no. Ok?

You have this odd notion that the government somehow made a profit on "their money". Here's a life lesson for you; the government is not a business entity that operates under a private business model. The government did pay for establishing the strategic reserves. Understand some basic concepts.

1. The government did not pay to fill the strategic reserves. Taxpayers did.

2. Identify for us how the government ''takes you'' $17 billion in cash they made on the sale of the reserves to make a profit by now refilling those reserves for $14 billion. Are you suggesting that $17 billion in profit was just laying around in the treasury somewhere?

 

[citygator]

Once again you ignore the original cost of the 180 million barrels.

When you sell something for a profit, and then replace it with the same thing and you have to spend more than you profited it is a net loss, Dumbass.

In this case we are looking at a net loss of $10 billion using the price Tater is now replacing the oil with.

Holy shit how many times does this need to be explained to you, moron?

I’m Biden and you’re the oil company:

You: Here is 180M barrels for $20.
Me: ok, Nostra. Here is $3.6B dollars
You: thank you. I have $3.6B.

Me: Hey Nostra buy this back for $95 which is $17B
You: Ok. Here is $17B. Enjoy. Now I had $3.6B but since I paid you $14B now I owe you $13.4B City! Oh geez.

Me: Well I’ll buy the oil back for $14B.
You: oh good. I’ll take the $14B so now I no longer owe you $13.4B you owe me $0.6B.
You: here is the oil

You: Wait. I had $3.6B now I only have $0.6B where did the $3B dollars go?
Me: my profit sucker Nostra!

 

[citygator]

You have this odd notion that the government somehow made a profit on "their money". Here's a life lesson for you; the government is not a business entity that operates under a private business model. The government did pay for establishing the strategic reserves. Understand some basic concepts.

1. The government did not pay to fill the strategic reserves. Taxpayers did.

2. Identify for us how the government ''takes you'' $17 billion in cash they made on the sale of the reserves to make a profit by now refilling those reserves for $14 billion. Are you suggesting that $17 billion in profit was just laying around in the treasury somewhere?

Your numbers are backwards. The government borrowed $14B and received $17B for it. Profit of $3B

 

[Nostra]

Your numbers are backwards. The government borrowed $14B and received $17B for it. Profit of $3B

Nothing backwards about the numbers. I'm just including the original cost you keep omitting.

Are you really so stupid you think there was no cost for the original 180 million barrels? Why do you think you can just ignore that expense, Dumbass?

The $17 billion wasn't all profit. Holy shit, go give your fictitious economics degrees back.

 

[citygator]

Notice the info from the DOE you posted talks only about the 2022 release.

That's because in November 2021, Biden sold 50M barrels when the price was $77 per barrel, but he sold oil to China for $63/bbl. [Link]

You might want to take back some of the childish personal insults you included, until Biden's dubious sales actually result in a profit.

He sold zero oil to China. A Houston based company bought and traded it to China. Not illegal. They won bids by being the highest price.

 

[BluesLegend]

So Joe Biden is ending fossil fuels, saving us from climate change by purchasing oil?????????

 

[citygator]

Nothing backwards about the numbers. I'm just including the original cost you keep omitting.

Are you really so stupid you think there was no cost for the original 180 million barrels? Why do you think you can just ignore that expense, Dumbass?

The $17 billion wasn't all profit. Holy shit, go give your fictitious economics degrees back.

I gave you a kindergarten level explanation. If you don’t get it you are either trolling or not very smart. It’s hard to tell with you.

 

[Nostra]

I’m Biden and you’re the oil company:

You: Here is 180M barrels for $20.
Me: ok, Nostra. Here is $3.6B dollars
You: thank you. I have $3.6B.

Me: Hey Nostra buy this back for $95 which is $17B
You: Ok. Here is $17B. Enjoy. Now I had $3.6B but since I paid you $14B now I owe you $13.4B City! Oh geez.

Me: Well I’ll buy the oil back for $14B.
You: oh good. I’ll take the $14B so now I no longer owe you $13.4B you owe me $0.6B.
You: here is the oil

You: Wait. I had $3.6B now I only have $0.6B where did the $3B dollars go?
Me: my profit sucker Nostra!

If you really had any economics degrees you should know the meaning of the word "profit". You clearly don't.


Prof·it
/ˈpräfət/

noun

• 1.a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something:

 

[Nostra]

I gave you a kindergarten level explanation. If you don’t get it you are either trolling or not very smart. It’s hard to tell with you.

So you think the sales price of $17 billion was all profit.

Got it.

 

[citygator]

If you really had any economics degrees you should know the meaning of the word "profit". You clearly don't.


Prof·it
/ˈpräfət/

noun

• 1.a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something:

Everyone can read above and laugh at you. I am not sure how you can show your avatar and be taken seriously ever again. Simple concepts allude you.

 

[Nostra]

Everyone can read above and laugh at you. I am not sure how you can show your avatar and be taken seriously ever again. Simple concepts allude you.

An economics major who thinks 180 million barrels of oil showed up in our Strategic Reserves via a unicorn fart.

 

[Hollie]

Your numbers are backwards. The government borrowed $14B and received $17B for it. Profit of $3B

Wow. What money was borrowed? That's a new concept you introduced. Where was the money borrowed from? If, as you claim, the government made a profit of $3 billion dollars, can you show us the GAO records of that profit?