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Oh, I see the peanut gallery is showing up. Tell me, permanently losing ten million barrels of oil per month supply, would not that indicate a need to open up the Strategic Oil Reserve. I mean hell, I am with you, Trump was a damn fool. It was, don't worry Saudi Arabia, I got your back until you can get production back up, want to borrow my hacksaw, and please, send Jared some money.Where do people get the moronic idea that someone else did it, so it is okay to do that? Really silly sixth grade logic.
I am upset that either released reserves. The thread is about Biden and his releasing the reserves didn’t reduce pricing at all, it was for no reason, other than to make people feel that he was doing something positive and help his party during midterms.Oh, I see the peanut gallery is showing up. Tell me, permanently losing ten million barrels of oil per month supply, would not that indicate a need to open up the Strategic Oil Reserve. I mean hell, I am with you, Trump was a damn fool. It was, don't worry Saudi Arabia, I got your back until you can get production back up, want to borrow my hacksaw, and please, send Jared some money.
It can be used for supply issues of any kind not just war time.
Look, the commodities market is not some market that requires you to sell one product in order to purchase or sell another. We can easily stop exporting diesel, that doesn't mean no one is going to buy our soybeans. Besides, the soybeans will be cheaper because of cheaper diesel prices.
Nor am I advocating isolating America. Matter of fact, I would not condemn the exportation of gasoline. The oil companies can invest in the infrastructure to refine more oil into gas instead of diesel. But I would put them on notice, if the price of gasoline strays too far upwards because of massive exports, which is precisely what has happened in regards to diesel, they could face the same legislative restrictions.
I realize there are two other factors here. First, the Jones Act which requires shipments of diesel to areas in the United States to use American ships and crews. Suspend it, hell just get rid of it all together. Second, some of that exported diesel doesn't meet the sulfur content standards of the EPA. Tough shit, refineries can make the necessary investment to start producing diesel with acceptable levels of sulfur.
But that's not what it was designed for. If you have $1,000 at your home for an emergency only, you don't use it for a plane ticket to Florida because you feel like taking a little vacation. Now our strategic reserves are at the lowest level since 1984 and we better hope no emergency befalls us.
Except that they sold at it's height and are buying back at a lower price. Classic supply and demand. Way to go Joe.
Oh, I see the peanut gallery is showing up. Tell me, permanently losing ten million barrels of oil per month supply, would not that indicate a need to open up the Strategic Oil Reserve. I mean hell, I am with you, Trump was a damn fool. It was, don't worry Saudi Arabia, I got your back until you can get production back up, want to borrow my hacksaw, and please, send Jared some money.
It doesn't say anything anywhere about the SPR only being for a time of war. Make up all the scenarios in your mind that you want it doesn't say open only in a time of war.
You have confirmed that Biden's tapping of the reserve fit perfectly with purpose the reserve was created. As you pointed out, the reserve was a result of the Arab oil embargo. How much did gas prices increase after that embargo? 43%. Why did the Arabs initiate the embargo? Because of the US support of Israel in the Yom Kippur war. So, the reserve was created because a loss of supply due to our support of an Ally in a war. Well hello howdy.I said that's what it was designed for, not for a President to try and make sure his mistakes didn't affect an election outcome.
Origins
The need for a national oil storage reserve has been recognized for at least five decades.
Secretary of the Interior Harold Ickes advocated the stockpiling of emergency crude oil in 1944. President Truman's Minerals Policy Commission proposed a strategic oil supply in 1952. President Eisenhower suggested an oil reserve after the 1956 Suez Crisis. The Cabinet Task Force on Oil Import Control recommended a similar reserve in 1970.
But few events so dramatically underscored the need for a strategic oil reserve as the 1973-74 oil embargo. The cutoff of oil flowing into the United States from the Arab members of the Organization of Petroleum Exporting Countries (OPEC), in response to American aid to Israel during the Yom Kippur War, sent economic shockwaves throughout the Nation. In the aftermath of the oil crises, the United States established the SPR.
When Biden began releasing oil from the SPR in order to bring down prices you bitched that it was oil bought at a far lower price. Now that he is refilling it with oil that cost less than he sold it for… you whine that we shouldn’t make a profit.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.
When Biden began releasing oil from the SPR in order to bring down prices you bitched that it was oil bought at a far lower price. Now that he is refilling it with oil that cost less than he sold it for… you whine that we shouldn’t make a profit.
You’re just whining assholes
He benefited the COUNTRY you partisan hackMy only complaint is that he used our strategic reserves to benefit his party and nothing more. Just like they hid all this document bullshit until after the election. Just like the FBI suppressing the Hunter laptop story on social media to win an election.
I'm sick of the Communists using federal resources to benefit their party at the disadvantage of the American people.
He benefited the COUNTRY you partisan hack
Hey douchebag… getting lower gas prices helps everyone. The NATIONHe benefited his party partisan hack. He doesn't care about Americans, only power. Why do you think we had 5 million illegals (the most in history) cross our border since he sneaked into the White House. He could give a shit less about this country or it's people.
..................My only complaint is that he used our strategic reserves to benefit his party and nothing more. Just like they hid all this document bullshit until after the election.
Look Ray,I'm sick of the Communists using federal resources to benefit their party at the disadvantage of the American people.
My only complaint is that he used our strategic reserves to benefit his party and nothing more. Just like they hid all this document bullshit until after the election. Just like the FBI suppressing the Hunter laptop story on social media to win an election.
I'm sick of the Communists using federal resources to benefit their party at the disadvantage of the American people.
My only complaint is that he used our strategic reserves to benefit his party and nothing more
I agree, that is problematic. But it is certainly not surprising, and you are once again delusional if you think Republicans wouldn't play the same game.Just like they hid all this document bullshit until after the election.
The whole laptop thing is the one thing that really trips me out. And I hate to go back to that same well, but it is delusional. Occam's razor is real, and no way in hell the laptop thing makes sense. Regardless of what you have seen in the media, the reality is there is no way in hell anyone can certify that that laptop has not been tampered with. I mean the file names are comical, "salacious pics", seriously, who creates a file with that name?Just like the FBI suppressing the Hunter laptop story on social media to win an election.
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Just like the FBI suppressing the Hunter laptop story on social media to win an election.
Look Ray,
My only complaint is that he used our strategic reserves to benefit his party and nothing more.
That is completely delusional. Did the drop in gas prices due to the release from the strategic oil reserve benefit Democrats? Maybe, a little. But that most certainly was not his primary objective. I mean you could flip it around, Republicans fought him at every turn. Obviously, Republicans were more than willing to force Americans to pay more for gasoline simply to improve their chances in the election. So, we got two scenarios here, one involves saving Americans twenty, thirty, maybe fifty dollars a month on their gas bill and improving their performance in the midterms. The other involves costing Americans, twenty, thirty, maybe fifty dollars a month and improving their performance in an election. I mean it ain't hard to figure out which one is worse.
Just like they hid all this document bullshit until after the election.
That is delusional. Did reducing gas prices help Democrats in the midterms? Possibly, slightly at best. But that was not Biden's primary objective. And we could flip this around. We have two scenarios here. One, save Americans ten, twenty, maybe even fifty dollars a month and improve your chances in the midterms. Republicans fought him at every turn, which brings us to the second scenario, cost Americans an extra ten, twenty, even fifty dollars a month to improve your chances during the midterms. It ain't hard to figure out which one is worse.
I agree, that is problematic. But it is certainly not surprising, and you are once again delusional if you think Republicans wouldn't play the same game.
The whole laptop thing is the one thing that really trips me out. And I hate to go back to that same well, but it is delusional. Occam's razor is real, and no way in hell the laptop thing makes sense. Regardless of what you have seen in the media, the reality is there is no way in hell anyone can certify that that laptop has not been tampered with. I mean the file names are comical, "salacious pics", seriously, who creates a file with that name?
So Hunter Biden shows up with a laptop and gives it to a blind repair person. But then he forgets about it and never comes to claim it. This blind person starts investigating it and SEES "salacious pics", and first contacts a senator who refuses to touch it with a ten foot pole, so then he contacts Rudy. Rudy for christ sakes, I mean he fell off the deep end long ago. And it is Rudy that presents it to the public. Hell, this shit is comical.
thepostmillennial.com
Hey douchebag… getting lower gas prices helps everyone. The NATION
Even you ya disgusting waste of human cells
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.
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.
“Based on the prices of oil, I’ve … instructed the secretary of energy to purchase, at a very good price, large quantities of crude oil for storage in the U.S. strategic reserve. We’re going to fill it right up to the top.”
thepoliticalinsider.com
They sold it at a much higher price than they are buying it for now. Pure Capitalism, way to go Joe. Joe hates oil so much that we are now pumping more oil than when tRump was president, go figure!They aren't buying anything back yet..........and the price is still higher than when the oil went in in the first place so they aren't saving any money......they are intentionally depleting the reserve because they hate oil...and don't want us having an easy supply of it......and this is their chance to deplete that reserve
