Biden To Sell 1 Million Barrels Of Reserve Gasoline

[Harpy Eagle]

a rep from the oil companies was just interviewed. He said in a nutshell. The amount is about HALF of what we use in ONE day. Will not dent the prices.
so yes you are right. That should be left right where it is. for emergencies.
Biden is a demented fool.

He is following a Congressional mandate that the Northeast reserves be sold off and closed.

 

[SootedUpCyndi]

He is following a Congressional mandate that the Northeast reserves be sold off and closed.

lol WHY? do you know.
They should all leave us northeasters alone -It's cold up here. oh never mind- i see it a few posts before. spending bill...

 

[Harpy Eagle]

lol WHY? do you know.
They should all leave us northeasters alone -It's cold up here. oh never mind- i see it a few posts before. spending bill...

I have no idea why it was added it to the spending bill, but it is there and all Biden is doing is following the bill sent to him by Congress

 

[debbiedowner]

Trump replenished the SPR. He didn't draw it down for political theater.

Even though I know you people do not believe facts I will post this anyway.

According to data from the Energy Information Administration (EIA), when Trump took office in January 2017, the SPR contained 695 million barrels. When he left office four years later, the SPR contained 638 million barrels. So, the level of the SPR actually declined while President Trump was in office. You can see this clearly in the chart below:

Fact-Checking Donald Trump On The Strategic Petroleum Reserve

Donald Trump continues to claim that he filled the nation's Strategic Petroleum Reserve, and President Biden drained it. Let's look at those claims.

www.forbes.com

 

[SootedUpCyndi]

I have no idea why it was added it to the spending bill, but it is there and all Biden is doing is following the bill sent to him by Congress

can I guess- because no one read it.

 

[Hollie]

It has everything to do with the topic you fucking dunce. He is selling the oil from the Reserves because Congress mandated that it be done.

Not so, dunce.

ICYMI: “Biden to Release 1 Million Barrels of Gasoline to Reduce Prices at the Pump Ahead of July 4” | The White House

Statement from Press Secretary Karine Jean-Pierre: “With Memorial Day weekend and the start of the summer driving season around the corner, the Biden-Harris Administration is taking action to lower gas prices with the sale of one million barrels of gasoline from the Northeast Gasoline Supply...

www.whitehouse.gov

“With Memorial Day weekend and the start of the summer driving season around the corner, the Biden-Harris Administration is taking action to lower gas prices with the sale of one million barrels of gasoline from the Northeast Gasoline Supply Reserve.

 

[Hollie]

In your idiocy, you believe all of the bullshit right wing media tells you.

I guess Breitbart and FOX failed to tell you that Biden made money for the government selling oil from the reserves last time:

U.S. Scores $4 Billion Windfall on Oil-Reserve Sales

Washington emerges as an unlikely winner after releases from Strategic Petroleum Reserve.

www.wsj.com

Everything Trump did in office was to line his own pockets or those of his billionaire buddies. Everything Biden is doing in office, is helping the American people, not himself.

In your comatose condition, you failed to realize that there is no profit to be made when selling reserves as a vote buying gimmick when those reserves need to be replaced.

Everything Biden is being told to do is for the purpose of his politburo flunkies.

 

[jknowgood]

And Trump/Saudis are gambling with the US economy for partisan politics. Gas prices are way out of whack with the price of a barrel of oil.

Biden could simply open goverment lands to drilling. Flood the market and bring prices down.

 

[Mac-7]

You poor thing. Getting your panties in a twist over two hours worth of gasoline.

It must be exhausting being triggered by your propagandists every few hours.

Like the man said, 2 hours here, 2 hours there, and pretty soon you’re on foot at a bus stop instead of driving your car

 

[BlindBoo]

Oh, well, that's different then. We haven't needed it for a while, so we'll never need it. Smart thinking right there </sarcasm>.

Not really true. It gets rotated because of gasolines short shelf life and used when refineries are down.

a rep from the oil companies was just interviewed. He said in a nutshell. The amount is about HALF of what we use in ONE day. Will not dent the prices.
so yes you are right. That should be left right where it is. for emergencies.
Biden is a demented fool.

376 million gallons per day

Gasoline consumption in the US, in terms of product supplied to gas stations, rose by 1.5% in 2023, to 376 million gallons per day. This was down by 3.9% from 2019 and back where it had first been 20 years ago, in 2003, with two big troughs in between.

Frequently Asked Questions (FAQs) - U.S. Energy Information Administration (EIA)

www.eia.gov

 

[Independent thinker]

Biden is going full panic mode as his poll numbers are crashing. There's real desperation as Biden has upped his vote buying strategy. Dumping student debt on the public will be accompanied by dumping more of the strategic petroleum reserves.

Biden's vote buying strategy to again rape the reserve means that the US is more vulnerable and ultimately, $Billions of dollars will eventually be needed to restore the reserves Biden is using as a campaign finance reserve.

Biden To Sell 1 Million Barrels Of Reserve Gasoline

The Biden Administration has announced that it will sell 1 million barrels of gasoline that was being held in case of emergencies in an effort "to keep gas prices low" over the summer, a spokesperson claimed.

www.oann.com

6:01 PM – Tuesday, May 21, 2024

The Biden Administration has announced that it will sell 1 million barrels of gasoline that was being held in case of emergencies, in an effort “to keep gas prices low” over the summer, a spokesperson claimed.

Typical dem thing. Do something and, when it doesn't work, do it again!

 

[hadit]

Not really true. It gets rotated because of gasolines short shelf life and used when refineries are down.


376 million gallons per day

Gasoline consumption in the US, in terms of product supplied to gas stations, rose by 1.5% in 2023, to 376 million gallons per day. This was down by 3.9% from 2019 and back where it had first been 20 years ago, in 2003, with two big troughs in between.

Frequently Asked Questions (FAQs) - U.S. Energy Information Administration (EIA)

www.eia.gov

Of course it's not just sitting there for decades until we use it, that's not the point. The point is, it's supposed to be kept topped off, not drained to lower prices at the pump during a campaign season.

 

[Natural Citizen]

A million barrels is a drop in the bucket.

But the talking heads on the idiot box, at least the ones running interference for Tater anyway, will try to ride that measily little drop like it's some kind of a giant wave for at least a month. They'll get as much propaganda mileage from that little drop as they can possibly manufacture.

It's the whole point in selling off the little bit of fuel.

So pft...

 

[BlindBoo]

Of course it's not just sitting there for decades until we use it, that's not the point. The point is, it's supposed to be kept topped off, not drained to lower prices at the pump during a campaign season.

It has to be turned over on a regular basis. Did you miss the fact that the facility is being closed by Congress. I hope that they have authorized other facilities. A million barrels is about 11% of our daily use and thinking that that drop in the bucket will lower prices significantly is a pipedream. Maybe it will for the Northeast for a day or two. Not for Texas. It was 2.78 last time I filled up the tank.

 

[Harpy Eagle]

Biden could simply open goverment lands to drilling. Flood the market and bring prices down.

Why would oil companies take him up on it and crash their own market?

 

[Harpy Eagle]

Of course it's not just sitting there for decades until we use it, that's not the point. The point is, it's supposed to be kept topped off, not drained to lower prices at the pump during a campaign season.

Congress mandated it be sold off and closed.

Take it up with them

 

[hadit]

Congress mandated it be sold off and closed.

Take it up with them

So any price drop will be attributed to them and not Quid Pro. Good to know.

 

[BlindBoo]

Biden could simply open goverment lands to drilling. Flood the market and bring prices down.

"Records of past Gulf of Mexico lease sales show the industry often only places bids on a small fraction of the total acreage made available. In the most recent sale held in March, industry only bid on 1.6 million acres out of 73.3 million acres offered for leasing – 2.2 percent. A previous lease sale that offered 78.2 million acres ended with bids for only 1.7 million acres, also around 2.2 percent."

Biden Administration offers drillers 67 million acres in the Gulf of Mexico – but industry sues over protections for whales

On Wednesday, the Biden Administration plans to offer leases for sale to oil and gas companies allowing drilling on 67 million acres in the Gulf of Mexico. But the oil and gas industry is suing because the Biden Administration plans to block drilling on a small portion of the underwater acres to...

news.oilandgaswatch.org

It is a mountain the Oil Patch is climbing well by well. It is predicted that we will become an oil sufficient nation in this decade.

 

[Harpy Eagle]

So any price drop will be attributed to them and not Quid Pro. Good to know.

Anyone that attributed the price of gas to the POTUS is a moron to start with.

 

[Natural Citizen]

It was 2.78 last time I filled up the tank.

I paid around 90 well-inflated Federal Reserve Notes for 18 and one half gallons of Shell's V-Power NiTRO+ Premium 93 the other day.

I imagine there won't be much of a significant difference the next time I top off. Or the next time after that either.