GOP hates Biden's oil reserve profit machine; House Votes on Strategic Oil Usage

[citygator]

Joe Biden initiated a $3.7B windfall in profits by selling at the high and buying back into the reserve at a low. Now the GOP wants to stop that from ever happening again! This is how the GOP wants to "help" you. By passing legislation that will never pass to virtue signal that they hate profitable decision making by a democrat.

MSN

Republicans, who spent two days this week voting on amendments and passing the measure, have sought to blame last year's surge in gasoline prices on Biden's green energy policies, which they contend have crimped U.S. oil production, sending prices and inflation skyrocketing. Gasoline prices peaked at a record national average $5.05 per gallon in June, but declined steadily over the next three months.

 

[Oddball]

The strategic reserve isn't there for speculation, Gomer.

 

[BlindBoo]

I don't understand. Why can't they pass something useful like they did the last time they controlled the House, you know like repeal Obamacare 54 times.........

 

[Papageorgio]

So the whole idea of selling the oil to help ease prices for Americans was a farce. That is why it did not affect fuel prices at all. So we released the strategic reserves for no reason. More government lies.

 

[okfine]

I don't understand. Why can't the pass something useful like they did the last time they controlled the House, you know like repeal Obamacare 54 times.........

It takes brains to do that 54 times.

 

[BlindBoo]

It takes brains to do that 54 times.

Cereal brains.

 

[22lcidw]

I don't understand. Why can't they pass something useful like they did the last time they controlled the House, you know like repeal Obamacare 54 times.........

Ask John McCain.

 

[Flash]

Joe Biden initiated a $3.7B windfall in profits by selling at the high and buying back into the reserve at a low. Now the GOP wants to stop that from ever happening again! This is how the GOP wants to "help" you. By passing legislation that will never pass to virtue signal that they hate profitable decision making by a democrat.

MSN

Republicans, who spent two days this week voting on amendments and passing the measure, have sought to blame last year's surge in gasoline prices on Biden's green energy policies, which they contend have crimped U.S. oil production, sending prices and inflation skyrocketing. Gasoline prices peaked at a record national average $5.05 per gallon in June, but declined steadily over the next three months.

Potatohead is draining the SPR to cover up from his failed and disasterous energy policy.

That is just another way he is a traitor to his country.

Of course that isn't enough because the cost of gas at the pump is jumping up. It is close to $4/gal most places. That is a cruel tax on working Americans on top of Potatohead's massive inflation and decreased family income.

You are a fucking idiot supporting Joe Potatohead for President. A fucking idiot.

 

[LAUGHatLEFTISTS]

Joe Biden initiated a $3.7B windfall in profits by selling at the high and buying back into the reserve at a low. Now the GOP wants to stop that from ever happening again! This is how the GOP wants to "help" you. By passing legislation that will never pass to virtue signal that they hate profitable decision making by a democrat.

MSN

Republicans, who spent two days this week voting on amendments and passing the measure, have sought to blame last year's surge in gasoline prices on Biden's green energy policies, which they contend have crimped U.S. oil production, sending prices and inflation skyrocketing. Gasoline prices peaked at a record national average $5.05 per gallon in June, but declined steadily over the next three months.

You bought the bullshit narrative.
Hahaahahaahahahahahaha!

 

[Lord Long Rod]

LOL! Jesus... The left has brains for shit!

 

[theHawk]

Joe Biden initiated a $3.7B windfall in profits by selling at the high and buying back into the reserve at a low. Now the GOP wants to stop that from ever happening again! This is how the GOP wants to "help" you. By passing legislation that will never pass to virtue signal that they hate profitable decision making by a democrat.

MSN

Republicans, who spent two days this week voting on amendments and passing the measure, have sought to blame last year's surge in gasoline prices on Biden's green energy policies, which they contend have crimped U.S. oil production, sending prices and inflation skyrocketing. Gasoline prices peaked at a record national average $5.05 per gallon in June, but declined steadily over the next three months.

So he is selling it to make profit at the expense of the people who have to buy it at the higher price?

Of course you would support this.

 

[BlindBoo]

Ask John McCain.

That guy was in the Senate and had no say in the 54 House votes to repeal Obamacare.

to cover up from his failed and disasterous energy policy.

By failed you mean he failed to stop the domestic fossil fuel industry from increasing both crude oil production as well as NG production. Combined with renewables we're producing record amounts of energy.

cost of gas at the pump is jumping up.

Still gasoline is tied exclusively to price of crude oil, which as everyone knows we don't produce enough of and haven't produced what we need for over half a century.

Weekly U.S. Field Production of Crude Oil (Thousand Barrels per Day)

 

[blackhawk]

The Strategic Petroleum Reserve was created to protect the U.S. from severe disruptions to the global oil supply not help a President any President with low poll numbers.

 

[Winston]

Joe Biden initiated a $3.7B windfall in profits by selling at the high and buying back into the reserve at a low. Now the GOP wants to stop that from ever happening again! This is how the GOP wants to "help" you. By passing legislation that will never pass to virtue signal that they hate profitable decision making by a democrat.

MSN

Republicans, who spent two days this week voting on amendments and passing the measure, have sought to blame last year's surge in gasoline prices on Biden's green energy policies, which they contend have crimped U.S. oil production, sending prices and inflation skyrocketing. Gasoline prices peaked at a record national average $5.05 per gallon in June, but declined steadily over the next three months.

Not really sure how this bill is suppose to work.

The bill would prohibit non-emergency releases from the Strategic Petroleum Reserve unless the government approves a corresponding increase in domestic oil and gas production on federal lands.

The government doesn't "approve production". The government sells and approves leases and permits. How do these Congress idiots not know this? What, do they want the government to go in and do the drilling? Hell, I am all for it.

WIth no chance of being heard in the Senate, and even if by some miracle it cleared the Senate, Biden would certainly veto it. So, IT WAS A WASTE OF TIME. And that is all we have seen from this Republican congress since the getgo. Inflation, have they done anything to address inflation? Hell, I don't know, stopping the exporting of diesel would be a good start. Banning corporate stock buybacks, even if just temporarily, would alleviate pressure on prices. What about the border? I mean anything? More funding for the INS? Increased capacity for immigration courts? Hell, A FLIPPIN WALL. Nope, nothing, NADA. The opioid crisis, fentanyl, anything? Bueller? Bueller? No, nothing.

From where I sit they have one accomplishment, passing a bill to eliminate those 87,000 new IRS agents. It has no chance of clearing the Senate, would also be vetoed, and was a huge waste of time. But hey, protecting high income tax cheats was the signal they needed to send to keep the money coming in.

Look, they got sent to Congress to do the "people's business". I mean it is called the "people's house". For the next two years the only thing these Republicans are interested in is "signaling". The only thing they are concerned with is the election of 2024. Sure, they might attempt to throw a few bones to their corporate and wealthy contributors. But for you and I, well they aren't going to do jack shit.

Now we got this debt ceiling thing hanging over our head. I tell you how I would handle it. First, I would draft an executive order banning the burning of "gob", or waste coal. I wouldn't sign it, just send an engraved copy to Joe Manchin. Then I would have Senate Democrats motion to adjourn Congress, for the entire two year term. Naturally, the House would not agree. Then it becomes, pass a clean bill to increase the debt ceiling or, under Article 2, Section 2, of the US Constitution I am sending all your asses home, WITHOUT PAY, till the beginning of the next term.

I be damn if I would sit back and let a dysfunctional Congress spend two years and millions and millions of dollars working to "signal" for the next election. Either they do what they were elected to do, or they go back home and watch Netflix.

 

[BlindBoo]

Not really sure how this bill is suppose to work.

The bill would prohibit non-emergency releases from the Strategic Petroleum Reserve unless the government approves a corresponding increase in domestic oil and gas production on federal lands.

The government doesn't "approve production". The government sells and approves leases and permits. How do these Congress idiots not know this? What, do they want the government to go in and do the drilling? Hell, I am all for it.

WIth no chance of being heard in the Senate, and even if by some miracle it cleared the Senate, Biden would certainly veto it. So, IT WAS A WASTE OF TIME. And that is all we have seen from this Republican congress since the getgo. Inflation, have they done anything to address inflation? Hell, I don't know, stopping the exporting of diesel would be a good start. Banning corporate stock buybacks, even if just temporarily, would alleviate pressure on prices. What about the border? I mean anything? More funding for the INS? Increased capacity for immigration courts? Hell, A FLIPPIN WALL. Nope, nothing, NADA. The opioid crisis, fentanyl, anything? Bueller? Bueller? No, nothing.

From where I sit they have one accomplishment, passing a bill to eliminate those 87,000 new IRS agents. It has no chance of clearing the Senate, would also be vetoed, and was a huge waste of time. But hey, protecting high income tax cheats was the signal they needed to send to keep the money coming in.

Look, they got sent to Congress to do the "people's business". I mean it is called the "people's house". For the next two years the only thing these Republicans are interested in is "signaling". The only thing they are concerned with is the election of 2024. Sure, they might attempt to throw a few bones to their corporate and wealthy contributors. But for you and I, well they aren't going to do jack shit.

Now we got this debt ceiling thing hanging over our head. I tell you how I would handle it. First, I would draft an executive order banning the burning of "gob", or waste coal. I wouldn't sign it, just send an engraved copy to Joe Manchin. Then I would have Senate Democrats motion to adjourn Congress, for the entire two year term. Naturally, the House would not agree. Then it becomes, pass a clean bill to increase the debt ceiling or, under Article 2, Section 2, of the US Constitution I am sending all your asses home, WITHOUT PAY, till the beginning of the next term.

I be damn if I would sit back and let a dysfunctional Congress spend two years and millions and millions of dollars working to "signal" for the next election. Either they do what they were elected to do, or they go back home and watch Netflix.

I didn't bother to read it since it's going nowhere. Thanks.

 

[citygator]

So he is selling it to make profit at the expense of the people who have to buy it at the higher price?

Of course you would support this.

People dont buy oil or sell oil to the US Oil Reserve. Companies do.

 

[theHawk]

People dont buy oil or sell oil to the US Oil Reserve. Companies do.

No shit, they buy it at a more expensive price and it costs consumers more to buy their gas.

 

[Flash]

Still gasoline is tied exclusively to price of crude oil, which as everyone knows we don't produce enough of and haven't produced what we need for over half a century.

Bullshit.

We were producing all we needed when Trump was President before the Chicom Pandemic hit. We were energy independent and Potatohead's Environmental Wacko handlers couldn't stand it. He even admitted the other day that cancelling the pipeline was a stupid thing to do.

It is Potatohead's failed policies that is fucking up the market.

It would be nice if at least every once in a while you stupid Moon Bats would admit that you were idiots supporting that Potatohead piece of shit. What in the hell were you thinking?

 

[Esdraelon]

By passing legislation that will never pass to virtue signal that they hate profitable decision making by a democrat.

I thought you were a bit sharper than to try this kind of propaganda. So, Joe made a bundle for us by selling high and refilling "low", did he?

U.S. to fill strategic oil reserve 'to the top,' Trump says

President Donald Trump said on Friday that the United States would take advantage of low oil prices and fill the nation's emergency crude oil reserve, in a move aimed to help energy producers struggling from the price plunge.

www.reuters.com

From^
"Oil prices posted the worst week in more than a decade, collapsing to about $31 a barrel on a rare combination of severe shocks to both supply and demand. The spread of coronavirus has hit demand by shutting travel around the world. Meanwhile, the launch of a price war between Saudi Arabia and Russia over the weekend has flooded global markets with crude."

Crude Oil Prices Today | OilPrice.com

Crude oil prices & gas price charts. Oil price charts for Brent Crude, WTI & oil futures. Energy news covering oil, petroleum, natural gas and investment advice

oilprice.com

So, brilliant Joe sells for a "profit" then has to refill at over TWICE what Orange Man Bad did. You folks are actually delusional or rurn't stupid.

WTI CRUDE •	79.68	-1.33	-1.64%
BRENT CRUDE •	86.33	-1.14	-1.30%
MURBAN CRUDE •16 mins	85.17	-0.87	-1.01%
NATURAL GAS •	3.109	+0.165	+5.60%
Click Here for 150+ Global Oil Prices

 

[citygator]

No shit, they buy it at a more expensive price and it costs consumers more to buy their gas.

Selling the strategic oil doesnt raise anyone's price. It provides more oil into the market theoretically lowering costs. The government makes money and the consumer is buying gas from a company that paid less for oil due to more supply... theoretically. Regardless it doesnt hurt the consumer.