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

[B. Kidd]

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.

Dimm's cannot grasp the concept of hi-risk/low reward! (Unless they are doing it purposefully in order to eventually nationalize the oil industry in order to force the Green New Deal!!).

 

[Rogue AI]

A federal gas tax moratorium would have been more effective. This move does nothing without a guaranteed increase in supply. Only pushes the real problem out a little longer, which will only increase the pain for Americans.

 

[B. Kidd]

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

The point is that Brandon is a leftist controlled corrupt child and has no interest in making America not even good anymore, no less great.

HE IS NOT CAPABLE!!

 

[Wild Bill Kelsoe]

This isn't what the strategic reserve is for. What a moron...lol

 

[toobfreak]

Biden to release 1 million barrels of oil per day from strategic reserve to drive down gas prices

Joe Biddum: friend to Mother Earth sure tells that climate to go screw itself fast enough when it comes to trying to keep voters happy in an election year!

 

[B. Kidd]

Joe Biddum: friend to Mother Earth sure tells that climate to go screw itself fast enough when it comes to trying to keep voters happy in an election year!

Bidenista's will next try to sell that Sippy Cup tamed the climate!!

 

[Meister]

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.

Has nothing to do with the election, huh?
Sadly, it won't do that much at the pump at the end of the day.

The 'use it or lose it', is about as big of a joke as Brandon.
A lot of those leases are dry, or near dry leases, it would be stupid to do anything with them.
The rest of them are being screwed over by the costs the administration has put on them.

 

[B. Kidd]

Has nothing to do with the election, huh?
Sadly, it won't do that much at the pump at the end of the day.

The 'use it or lose it', is about as big of a joke as Brandon.
A lot of those leases are dry, or near dry leases, it would be stupid to do anything with them.
The rest of them are being screwed over by the costs the administration has put on them.

Our Country is in such God awful trouble!

 

[Meister]

Our Country is in such God awful trouble!

no doubt

 

[B. Kidd]

no doubt

And it's only the beginning of Sippy Cup's 2nd year!!

 

[Meister]

And it's only the beginning of Sippy Cup's 2nd year!!

Luckily, politicians can't walk and chew gum at the same time.
It's an election year and their primary job is to be reelected,
everything else will be on the back burner in another month or month and a half.

 

[toobfreak]

Sadly, it won't do that much at the pump at the end of the day.

Worse, our ass is grass if something happens now that we really NEED that oil for what it was intended for! Worse, didn't Trump scarf that oil at sinfully dirt cheap prices? Now to replace it, we will get bent over the table.

The 'use it or lose it', is about as big of a joke as Brandon.

I almost wish a lot of oil companies would tell Joe they chose to LOSE IT now and let him go out supplying oil for the country himself. Joe is about as friendly to the petrol industry as jock rash is to a runner competing in India in the Summer.

The rest of them are being screwed over by the costs the administration has put on them.

Yes, first Joe creates big obstacles to the oil industry like they were enemies of the state, then threatens to kick them even harder if they don't knuckle under and say: "Yes Sir, May I have another!" as if Joe were doing them a favor.

Joe Biden: exponentially an even bigger ass than anyone ever dared imagine.

 

[B. Kidd]

Luckily, politicians can't walk and chew gum at the same time.
It's an election year and their primary job is to be reelected,
everything else will be on the back burner in another month or month and a half.

And our problems continue to accumulate.

 

[Meister]

Worse, our ass is grass if something happens now that we really NEED that oil for what it was intended for! Worse, didn't Trump scarf that oil at sinfully dirt cheap prices? Now to replace it, we will get bent over the table.


I almost wish a lot of oil companies would tell Joe they chose to LOSE IT now and let him go out supplying oil for the country himself. Joe is about as friendly to the petrol industry as jock rash is to a runner competing in India in the Summer.


Yes, first Joe creates big obstacles to the oil industry like they were enemies of the state, then threatens to kick them even harder if they don't knuckle under and say: "Yes Sir, May I have another!" as if Joe were doing them a favor.

Joe Biden: exponentially an even bigger ass than anyone ever dared imagine.

This is the post of the day

 

[Fort Fun Indiana]

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.

What a cute little game you have all rigged up for yourselves.

Blame high prices on Biden.

When actions are taken, say he is just doing it for votes.

Rinse, repeat.

 

[Toddsterpatriot]

What a cute little game you have all rigged up for yourselves.

Blame high prices on Biden.

When actions are taken, say he is just doing it for votes.

Rinse, repeat.

Not easy being the Big Guy, eh?

 

[Fort Fun Indiana]

Not easy being the Big Guy, eh?

Right, to be expected. I doubt it fazes him much. Quite a contrast with the orange slob.

 

[Toddsterpatriot]

I doubt it fazes him much.

I doubt he's aware much.

 

[Fort Fun Indiana]

I doubt he's aware much.

Yeah, you like to make yourself look dumb for attention. I will never understand this, but hey, knock yourself out.

 

[MarathonMike]

What a cute little game you have all rigged up for yourselves.

Blame high prices on Biden.

When actions are taken, say he is just doing it for votes.

Rinse, repeat.

The subject being discussed is the depletion of the Strategic Oil Reserves to temporarily lower gas prices. You appear to be trying to redirect the discussion.