Depleting US Strategic Oil reserves is all about election year damage control.

[Moonglow]

This is a perfect example of the feds helping out the oil industry, again. You can't trust the wealthy because they are greedy.

 

[Winston]

Biden's latest idiotic policy move to release 1 million barrels of oil per day from the STRATEGIC Oil Reserves is about election year desperation. His Clinton like "I feel your pain" speech rings as hollow as an empty oil pipe. The Oil reserves are there for times of extreme emergency NOT to improve poll numbers. There is NO WAY he would be doing this in a non-election year. Democrats don't give a hoot in hell about the American people, they've already proven that beyond a shadow of a doubt.

So, Biden releases oil from the strategic reserve when gas prices are at record levels and a full fledged war is going on in Ukraine. That is bad. But the Trumpster, he releases oil from the strategic reserve when a damn drone attacks a Saudi oil field, did you forget about that? I bet you did. You guys are a damn hoot.

Trump Authorizes Release From Strategic Petroleum Reserve | OilPrice.com

Following the news of a drone attack on a Saudi oilfield, which sparked concern about global supply security

oilprice.com

 

[Moonglow]

So, Biden releases oil from the strategic reserve when gas prices are at record levels and a full fledged war is going on in Ukraine. That is bad. But the Trumpster, he releases oil from the strategic reserve when a damn drone attacks a Saudi oil field, did you forget about that? I bet you did. You guys are a damn hoot.

Trump Authorizes Release From Strategic Petroleum Reserve | OilPrice.com

Following the news of a drone attack on a Saudi oilfield, which sparked concern about global supply security

oilprice.com

Remember that it is only done during a year the leader is up for re-election according to the OP.

 

[Winston]

That's because he doesn't do anything when he should and when he does do something, it's the wrong thing.

What do you expect, applause?

One million barrels a day for two months and Biden still won't have depleted the Strategic Oil Reserve as much as Trump did while he was in office.

Trump accuses Biden of emptying US oil reserves, despite depleting them too

Donald Trump accused Biden of draining America’s strategic petroleum reserve, claiming he built it up to “100% full” despite seeing a reduction in the reserve over his administration as well.…

nypost.com

 

[flewism]

This is all an attempt to improve the election results for the democrats in November.

 

[EvilEyeFleegle]

This should help a bit, although I think the 'use it or lose it' policy toward idle oil leases will probably be the biggest impact over time.

MSN

Biden to release 1 million barrels of oil per day from strategic reserve to drive down gas prices
President Joe Biden will order the release of 1 million barrels of oil per day over the next six months from the nation's Strategic Petroleum Reserve in response to a spike in gas prices triggered by Russia's invasion of Ukraine.
The action, which Biden will formally announce later Thursday, will represent the largest release from the reserve in its nearly 50-year history
Gas prices at the pump have soared by nearly $1 per gallon in the month since Russia's invasion of Ukraine. The war means less Russian oil is getting to the market, and the reduction in supply is raising prices at the pump.

Senior administration officials who briefed reporters ahead of Biden's announcement could not say how much the release of oil from the strategic reserves is expected to lower prices at the pump or how soon prices will start to fall.
The administration predicts that release of the oil will serve as a bridge until the end of the year, when domestic production ramps up. The Energy Department will use revenue from the release to restock the emergency stockpile in future years, the officials said.
Biden's decision to release oil from the strategic reserves is the third time in four months that he has tapped into the emergency stockpile.
In November, Biden ordered the release of 50 million barrels of oil from the nation's emergency stockpile to lower energy costs amid a spike in gas prices and soaring inflation. Earlier this month, he released another 30 million barrels from the stockpile.

Meanwhile, to encourage U.S. companies to ramp up domestic production, Biden also is proposing a "use it or lose it" policy for companies to produce more oil with the resources they already have. Right now, the oil and gas industry is sitting on more than 9,000 approved but unused permits for production on federal lands.
Biden will call for Congress to force companies to pay fees on wells from leases that they haven't used in years. Companies that are producing from leased acres and existing wells won't be subject to the fees. But companies that continue to sit on non-producing acres will have to choose whether to start producing or pay a fee.

 

[EvilCat Breath]

Try calling for God he may help you as your buddy Pootin does..

God may have inflicted the resident fuck on us for the sin of accepting abortion

 

[Lastamender]

This should help a bit, although I think the 'use it or lose it' policy toward idle oil leases will probably be the biggest impact over time.

MSN

Biden to release 1 million barrels of oil per day from strategic reserve to drive down gas prices
President Joe Biden will order the release of 1 million barrels of oil per day over the next six months from the nation's Strategic Petroleum Reserve in response to a spike in gas prices triggered by Russia's invasion of Ukraine.
The action, which Biden will formally announce later Thursday, will represent the largest release from the reserve in its nearly 50-year history
Gas prices at the pump have soared by nearly $1 per gallon in the month since Russia's invasion of Ukraine. The war means less Russian oil is getting to the market, and the reduction in supply is raising prices at the pump.

Senior administration officials who briefed reporters ahead of Biden's announcement could not say how much the release of oil from the strategic reserves is expected to lower prices at the pump or how soon prices will start to fall.
The administration predicts that release of the oil will serve as a bridge until the end of the year, when domestic production ramps up. The Energy Department will use revenue from the release to restock the emergency stockpile in future years, the officials said.
Biden's decision to release oil from the strategic reserves is the third time in four months that he has tapped into the emergency stockpile.
In November, Biden ordered the release of 50 million barrels of oil from the nation's emergency stockpile to lower energy costs amid a spike in gas prices and soaring inflation. Earlier this month, he released another 30 million barrels from the stockpile.

Meanwhile, to encourage U.S. companies to ramp up domestic production, Biden also is proposing a "use it or lose it" policy for companies to produce more oil with the resources they already have. Right now, the oil and gas industry is sitting on more than 9,000 approved but unused permits for production on federal lands.
Biden will call for Congress to force companies to pay fees on wells from leases that they haven't used in years. Companies that are producing from leased acres and existing wells won't be subject to the fees. But companies that continue to sit on non-producing acres will have to choose whether to start producing or pay a fee.

That will be a big help if he gets us into a war.

 

[B. Kidd]

Les go Brandon!

 

[Oddball]

This should help a bit, although I think the 'use it or lose it' policy toward idle oil leases will probably be the biggest impact over time.

MSN

Biden to release 1 million barrels of oil per day from strategic reserve to drive down gas prices
President Joe Biden will order the release of 1 million barrels of oil per day over the next six months from the nation's Strategic Petroleum Reserve in response to a spike in gas prices triggered by Russia's invasion of Ukraine.
The action, which Biden will formally announce later Thursday, will represent the largest release from the reserve in its nearly 50-year history
Gas prices at the pump have soared by nearly $1 per gallon in the month since Russia's invasion of Ukraine. The war means less Russian oil is getting to the market, and the reduction in supply is raising prices at the pump.

Senior administration officials who briefed reporters ahead of Biden's announcement could not say how much the release of oil from the strategic reserves is expected to lower prices at the pump or how soon prices will start to fall.
The administration predicts that release of the oil will serve as a bridge until the end of the year, when domestic production ramps up. The Energy Department will use revenue from the release to restock the emergency stockpile in future years, the officials said.
Biden's decision to release oil from the strategic reserves is the third time in four months that he has tapped into the emergency stockpile.
In November, Biden ordered the release of 50 million barrels of oil from the nation's emergency stockpile to lower energy costs amid a spike in gas prices and soaring inflation. Earlier this month, he released another 30 million barrels from the stockpile.

Meanwhile, to encourage U.S. companies to ramp up domestic production, Biden also is proposing a "use it or lose it" policy for companies to produce more oil with the resources they already have. Right now, the oil and gas industry is sitting on more than 9,000 approved but unused permits for production on federal lands.
Biden will call for Congress to force companies to pay fees on wells from leases that they haven't used in years. Companies that are producing from leased acres and existing wells won't be subject to the fees. But companies that continue to sit on non-producing acres will have to choose whether to start producing or pay a fee.

A gram of image, cynically trotted out as a metric ton of performance.




Meanwhile, to encourage U.S. companies to ramp up domestic production, Biden also is proposing a "use it or lose it" policy for companies to produce more oil with the resources they already have. Right now, the oil and gas industry is sitting on more than 9,000 approved but unused permits for production on federal lands.
Biden will call for Congress to force companies to pay fees on wells from leases that they haven't used in years. Companies that are producing from leased acres and existing wells won't be subject to the fees. But companies that continue to sit on non-producing acres will have to choose whether to start producing or pay a fee.


We went through this 3-card Monty bullshit with Oboingo....Those. leases are on high-risk-low reward areas...Just because you liberoidal schmendricks have the memories of goldfish, doesn't mean that everyone else does.

 

[BlindBoo]

We use 20 mbd.

 

[excalibur]

So he's draining the Strategic Petroleum Reserve (meant for actual emergencies, not Biden-created messes) and leaving it for the next POTUS to deal with, all in an attempt to prop up his and the Democrat's sagging poll numbers.

 

[Maxdeath]

That is so stupid. We just got those reserves filled back up from when 44 was using them.
You really have to wonder just how much special education democrats have to have to come up with stupid ideas.
44 claimed you an not drill your way out. used the reserves. Trump lowered the prices and filled them up.
Biden wants more oil by drilling and uses the reserves.
All of this without understanding that his administration has done everything it can to put the brakes on drilling and producing.
Yes there are leases that have been approved. But some are in areas that can not be easily accessed. Some are in the middle of leases that are not approved, and oil just does not understand that it has to stay within a lease.some are very speculative on if they will produce at all.
It costs millions of dollars to drill and produce oil. When a president tells banks not to approve loans to oil companies. Says he wants to kill oil and signs EO s that make it harder and longer to drill or payout is it any wonder that they sit not producing? A large portion of wells need fracking to produce which is being moved further and further off the table

 

[excalibur]

A gram of image, cynically trotted out as a metric ton of performance.




Meanwhile, to encourage U.S. companies to ramp up domestic production, Biden also is proposing a "use it or lose it" policy for companies to produce more oil with the resources they already have. Right now, the oil and gas industry is sitting on more than 9,000 approved but unused permits for production on federal lands.
Biden will call for Congress to force companies to pay fees on wells from leases that they haven't used in years. Companies that are producing from leased acres and existing wells won't be subject to the fees. But companies that continue to sit on non-producing acres will have to choose whether to start producing or pay a fee.


We went through this 3-card Monty bullshit with Oboingo....Those. leases are on high-risk-low reward areas...Just because you liberoidal schmendricks have the memories of goldfish, doesn't mean that everyone else does.

They are the stupidest people. No one is going to drill on a lease after they do modern seismic testing which shows no viable oil or gas.

Leftoids, dumb as ever.

Meanwhile, Biden has refused (even after a court order to do so!) to follow statutory law and auction off other lands for exploration.

 

[excalibur]

This:

Biden Halts Oil, Gas Leases Amid Legal Fight on Climate Cost

The administration said in a legal filing that a Feb. 11 ruling by a Louisiana federal judge will affect dozens of rules by at least four federal agencies. Among the immediate effects is an indefinite delay in planned oil and gas lease sales on public lands in a half-dozen states in the West.

news.wttw.com

Biden administration won’t appeal judge’s ruling revoking Gulf of Mexico drilling leases

 

[Delldude]

The law states he has to replace it. Trump filled it at around $30 a barrel, Biden will have to put it back at around $100 a barrel. Each time oil is funneled into the SPR , it creates a shortage and a rise in prices at the pump.

Another brilliant move by the progressive left.

Another cheap shot at what they precieve as stupid Americans for mid term votes?

 

[Toddsterpatriot]

Why does Biden hate the planet?

 

[ABikerSailor]

You guys bitched when gas prices rose because of circumstances beyond the USA (and Biden's) control.

You are now bitching when Biden is actually doing something to stop the gas price rise.

Is there no pleasing you anti Biden types?

 

[Sunni Man]

I'm sure the price per gallon the government paid years ago to fill the reserves up was a lot cheaper.
Then the price per gallon it's going to cost to fill them back up.
But that's ok, because the taxpayer will be footing the bill.

 

[Colin norris]

Les go Brandon!

What is the Brandon shit? How does childish name calling reflect on anything? What is your point?