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"President Biden's decision to tap America's strategic reserves—which will release just 3 days’ worth of oil onto the market—is not about a real solution to our energy crisis"
I did not agree with Trump. But at least Trump was responding to an accident which could potentially cause an oil shortage. Biden is only responding to his falling popularity in the polls
Keep in mind that any fuel Trump took out could be replaced at a much lower cost than now.
Biden cut US oil production by 2 million barrels a day. Want oil prices to decrease, increase production! Funny thing was oil prices went up after Biden tapped the oil reserve which is our nations oil savings account for war.
Biden cut US oil production by 2 million barrels a day. Want oil prices to decrease, increase production! Funny thing was oil prices went up after Biden tapped the oil reserve which is our nations oil savings account for war.
This from your fantasy world?
Oil production was up y/y 5.5% for august 2021 compared to 2020.
It’s down a couple million barrels from its peak in 2019 is correct… but that’s also when it peaked. It’s up from when Biden took office.
Wow. This guy literally screws up everything he touches....
Indeed-
Obama's third term is a disaster.
He forgot that the was given a "pass" for everything because he was black. Now that the face of his policies is white, people are free to point out the absurdity and failures of his idiotic policies without being called "racist".
Obama was too dense to understand that his policies were not popular- people were just intimidated and afraid to criticize for fear of being called "racist". Now that impediment has been removed, EVERYONE can see that Obama is a disaster and his anti American policies are terrible for America. Obama, due to his arrogance and stupidity, failed to understand that his false "popularity" was just due to the color of his skin, not the content of his character.
Put Obama in a white skin (Biden) and everyone hates him.
Wow. This guy literally screws up everything he touches....
Global reaction to Covid in 2020 sharply reduced global demand for oil. Russia and Saudi had themselves a price was in early 2020 whereby the Saudis increased production as global demand plummeted. The result was a temporary major reduction in price. It also caused global refiners to shut down.
POTUS has the authority to release strategic oil reserves and/ or restrict exports.
The US led an initiative with 4 other countries to release reserves- reduce demand. Releasing a portion of Reserves is a short term thing. OPEC can be counted on to reduce production to offset the benefit.
Restricting exports means US oil producers/ refiners/ exporters lose $ and will likely expect compensation, no diff than Big Ag did when Trump banned export of certain crops to China.
Putting the Kabosh on Keystone construction has zero impact on the price at the pump, right now.
Suspending new permits for exploration has no impact on current gas prices as permits are routinely stock piled.
He forgot that the was given a "pass" for everything because he was black. Now that the face of his policies is white, people are free to point out the absurdity and failures of his idiotic policies without being called "racist".
Obama was too dense to understand that his policies were not popular- people were just intimidated and afraid to criticize for fear of being called "racist". Now that impediment has been removed, EVERYONE can see that Obama is a disaster and his anti American policies are terrible for America. Obama, due to his arrogance and stupidity, failed to understand that his false "popularity" was just due to the color of his skin, not the content of his character.
Put Obama in a white skin (Biden) and everyone hates him.
Exactly. After repeatedly being called a racist for disagreeing with Obama policies, I vowed to never vote for a black person. You should be able to disagree with the policies. This is why I live in fear of a Kamala presidency. She is barely black but probably black enough for us to be racist for not liking her.
Putting the Kabosh on Keystone construction has zero impact on the price at the pump, right now.
Suspending new permits for exploration has no impact on current gas prices as permits are routinely stock piled.
Oil futures markets set the price. When Biden enacted policies and actions which reduced future prospects for oil exploration and production, it causes prices to rise.
If GM says for the next decade, they will only build 500 Corvettes a year, the market will react and prices for the car will rise sharply.
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