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

[citygator]

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?

We are producing way more under Biden that we did under Trump.

 

[citygator]

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

If I buy a barrel of oil for $31... then I leave it in the garage... then you show up and sell that barrel for $90 and buy it back for $60 you did good. You made $30. That is what happened. Your dummy math doesnt hold.

 

[1srelluc]

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.

Being generous, say he did make money....Then he sends it to Ukraine.

 

[Winston]

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?

Damn but you are one stupid uninformed dumbshit. Energy independence, we are more independent now than at anytime of the Trump administration. But hell, don't let facts get in the way of your ignorance. And Keystone, give me a damn break, the whole purpose of that pipeline was to increase the price that Canada got for their oil by at least a dollar a barrel, maybe two. Canada is our number one importer of oil, tell me, how does giving them the ability to charge a couple extra dollars make "America first"? You guys are complete damn idiots.

The entire purpose of Keystone was to get nasty ass sludge from Canada, transferring all the environmental risk to the US, to duty free refineries in the Gulf, to be refined into diesel for export. I mean, damn, I got to tell you, nothing would be more stupid. Every study indicates that if Keystone was completed gas prices, especially in the Midwest, would have WENT UP. And who benefits? Canada. America first my damn ass. You guys are utter fools.

 

[MarcATL]

My question to the Republicans here is...will this stunt bring down gas prices?

I truly hope you respond.

 

[Ray From Cleveland]

Damn but you are one stupid uninformed dumbshit. Energy independence, we are more independent now than at anytime of the Trump administration. But hell, don't let facts get in the way of your ignorance. And Keystone, give me a damn break, the whole purpose of that pipeline was to increase the price that Canada got for their oil by at least a dollar a barrel, maybe two. Canada is our number one importer of oil, tell me, how does giving them the ability to charge a couple extra dollars make "America first"? You guys are complete damn idiots.

The entire purpose of Keystone was to get nasty ass sludge from Canada, transferring all the environmental risk to the US, to duty free refineries in the Gulf, to be refined into diesel for export. I mean, damn, I got to tell you, nothing would be more stupid. Every study indicates that if Keystone was completed gas prices, especially in the Midwest, would have WENT UP. And who benefits? Canada. America first my damn ass. You guys are utter fools.

PolitiFact - Will all the oil from the Keystone XL pipeline be exported?

2022 coverage: RELATED: Keystone wouldn’t simply offset oil US imports from Russia RELATED: Pence falsely blames Biden’s

www.politifact.com

 

[Ray From Cleveland]

If I buy a barrel of oil for $31... then I leave it in the garage... then you show up and sell that barrel for $90 and buy it back for $60 you did good. You made $30. That is what happened. Your dummy math doesnt hold.

Our strategic oil reserves are not for making profit. It's to have emergency oil in the event of a national tragedy or war. That's it.

Dementia had no intention of making any profit. His goal was to bring down prices so the Communists could have a better chance at midterms. He could care less about profit. It just worked out that way because he brought prices to their highest level in US history, and there is only one way it could have gone from there, and that was down.

 

[Ray From Cleveland]

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.........

Because they spent 6 years trying to stop Obama from running for re-election......... whoops, my mistake. I was thinking of somebody else.

 

[Clipper]

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?

The bill is impossible to enforce, asswipe.

You're about as sharp as a baseball.

 

[BluesLegend]

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

Is there nothing these asshole Dem's won't try to spin? Why doesn't Biden give all the money to working Americans who got raped by his sky high gas prices?

 

[BlindBoo]

We were producing all we needed when Trump was President before the Chicom Pandemic hit.

Not oil.

We were energy independent

Because that our exports of petroleum products is greater than our import of petroleum products is the formula used in 2019 when it first happened, and it's still the formula now.

What in the hell were you thinking?

Faux reality strikes you again. See the USA consumes nearly 18- 19 mbd of crude oil, an on our best week in 2020 we produced 13.1 mbd. So there is no way in hell we are/were anywhere near being oil independent.

U.S. Weekly Supply Estimates

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

 

[Winston]

PolitiFact - Will all the oil from the Keystone XL pipeline be exported?

2022 coverage: RELATED: Keystone wouldn’t simply offset oil US imports from Russia RELATED: Pence falsely blames Biden’s

www.politifact.com

Nice, most the oil would not be directly exported. No shit. First, it will be refined, and I like how your article says,

That refined oil product, gasoline or whatever, could be just as easily consumed in the United States as somewhere else

It is like they can't say "diesel". Your article is spin. It splits hairs. From the article,

Experts say the oil will not be exported straight to other countries, as Gillibrand said.
I am not saying that. I am saying the oil will be processed into diesel, which is cheaper than processing it into gasoline, and it will be exported, like over two thirds of the crude coming out of the heavy crude oil refining facilities in the Gulf now. And most of those exports are diesel. I mean it is absolutely FUBARED that diesel costs more than gasoline. Like I said, cheaper to make diesel. And do you really think, that if the Gulf got more heavy crude that the percentage refined and exported would go down? If so, I got some ocean front land in Arizona you might be interested in.

Department of Energy Data Shows Keystone XL Is an Export Pipeline

The Natural Resources Defense Council works to safeguard the earth - its people, its plants and animals, and the natural systems on which all life depends.

www.nrdc.org

 

[Winston]

Our strategic oil reserves are not for making profit. It's to have emergency oil in the event of a national tragedy or war. That's it.

You forgot terrorist attacks in Saudi Arabia.

 

[Ray From Cleveland]

Nice, most the oil would not be directly exported. No shit. First, it will be refined, and I like how your article says,

That refined oil product, gasoline or whatever, could be just as easily consumed in the United States as somewhere else

It is like they can't say "diesel". Your article is spin. It splits hairs. From the article,

Experts say the oil will not be exported straight to other countries, as Gillibrand said.
I am not saying that. I am saying the oil will be processed into diesel, which is cheaper than processing it into gasoline, and it will be exported, like over two thirds of the crude coming out of the heavy crude oil refining facilities in the Gulf now. And most of those exports are diesel. I mean it is absolutely FUBARED that diesel costs more than gasoline. Like I said, cheaper to make diesel. And do you really think, that if the Gulf got more heavy crude that the percentage refined and exported would go down? If so, I got some ocean front land in Arizona you might be interested in.

Department of Energy Data Shows Keystone XL Is an Export Pipeline

The Natural Resources Defense Council works to safeguard the earth - its people, its plants and animals, and the natural systems on which all life depends.

www.nrdc.org

The point of the article was to show that yes, the US would benefit from that oil. It's not all being exported.

Most people are like yourself. They don't understand the market. Our oil is not strictly for domestic use and no country is. Fuel is a worldwide market. That's why we can't just stop exporting and keep our fuel to ourselves. Doing so would require we leave the commodities market and that would be the dumbest thing in the world we could do.

As for the environment, the oil is still crossing the US to those refineries, only in train cars instead of pipelines. There is a much higher risk of environmental damage using trains than there is a pipeline.

 

[whitehall]

The oil reserves weren't intended as a government sales scheme. Nobody ever foresaw an administration buying oil from criminal regimes and selling it off to other criminal regimes at a profit while Americans get screwed at the pumps. No doubt Bidenistas think it's the best thing since taking millions in dirty money form a bit-com scammer. The Bidens are nothing but white trash in suits.

 

[Winston]

The point of the article was to show that yes, the US would benefit from that oil. It's not all being exported.

Most people are like yourself. They don't understand the market. Our oil is not strictly for domestic use and no country is. Fuel is a worldwide market. That's why we can't just stop exporting and keep our fuel to ourselves. Doing so would require we leave the commodities market and that would be the dumbest thing in the world we could do.

As for the environment, the oil is still crossing the US to those refineries, only in train cars instead of pipelines. There is a much higher risk of environmental damage using trains than there is a pipeline.

No, the point of the article was to show that the statement, all oil would be directly exported was "false". But I am here to tell you, that oil would not have benefited us in any way other than perhaps displacing oil from South America. While you might patronize me with the quip, "Most people like yourself. They don't understand the market", I assure you that you are totally off base. I understand the market intuitively. The reality is that refineries in the Gulf anticipated Keystone and increased capacity for diesel production accordingly. I noticed you had nothing to say about diesel costing more than gasoline, and being a former truck driver, that is kind of sad.

The whole "market" thing is a total copout. It doesn't have to be that way, and honestly, it shouldn't. Damn skippy, we could be totally energy independent. And while economic reasons are enough to make that happen, national security reasons indicate that it should be of paramount importance. What part of "America first" do you not understand? The reality is it is not America first, it is stockholders of oil companies first, and that is FUBARED.

Have you looked? Have you looked at diesel exports? How the hell does that make sense? Diesel is cheaper in Brazil, Mexico, and most of South America, and it is OUR DIESEL. That is mind numbing. What country does that? You, I, and every American pays more because of the inflated cost of diesel. For what reason? To pad the bottom line of the oil companies and refineries?

 

[Orangecat]

Joe Biden initiated a $3.7B windfall in profits by selling at the high and buying back into the reserve at a low.

How much have we given to Ukraine again? Over $100,000,000,000?

 

[2aguy]

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.

House GOP passes bill to curb Biden's use of oil reserve

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.

Moron....he hasn't bought it back, and it is now more than what it cost when we bought it the first time...so no, there is no windfall...biden, the sock puppet, at the control of the democrats, are depleting our oil reserves on purpose....

 

[Ray From Cleveland]

No, the point of the article was to show that the statement, all oil would be directly exported was "false". But I am here to tell you, that oil would not have benefited us in any way other than perhaps displacing oil from South America. While you might patronize me with the quip, "Most people like yourself. They don't understand the market", I assure you that you are totally off base. I understand the market intuitively. The reality is that refineries in the Gulf anticipated Keystone and increased capacity for diesel production accordingly. I noticed you had nothing to say about diesel costing more than gasoline, and being a former truck driver, that is kind of sad.

The whole "market" thing is a total copout. It doesn't have to be that way, and honestly, it shouldn't. Damn skippy, we could be totally energy independent. And while economic reasons are enough to make that happen, national security reasons indicate that it should be of paramount importance. What part of "America first" do you not understand? The reality is it is not America first, it is stockholders of oil companies first, and that is FUBARED.

Have you looked? Have you looked at diesel exports? How the hell does that make sense? Diesel is cheaper in Brazil, Mexico, and most of South America, and it is OUR DIESEL. That is mind numbing. What country does that? You, I, and every American pays more because of the inflated cost of diesel. For what reason? To pad the bottom line of the oil companies and refineries?

Every country does that. Even when we were energy independent, we were importing fuels. Energy independent actually means we were shipping out the same as we exported. Energy dependent is when we ship out less than we import, and energy world exporter is when we ship out more than import, but it's all imported and exported.

The commodities market was formed to stabilize prices. It's the marketeers that decide on the price of fuels, not the actual producers. To leave the commodities market would mean we would be at the mercy of oil companies because then they would set the price. If they wanted to charge $10.00 a gallon for gasoline, they could. It would be a stupid move.

 

[Ray From Cleveland]

Moron....he hasn't bought it back, and it is now more than what it cost when we bought it the first time...so no, there is no windfall...biden, the sock puppet, at the control of the democrats, are depleting our oil reserves on purpose....

It was all a ploy to win or reduce the damage for the midterm elections. Since Christmas, prices began rising again. In fact today I went past my gas station, and it jumped 20 cents more than yesterday. It's going to keep going up unless the Democrats can find a way to bring it back down before the 2024 elections.