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Frankly, when this headline hit we just assumed it was a mistake... but it's not.
Just 6 weeks after President Biden unveiled the greatest, most-massivest, democracy-saving plan to release millions of barrels of oil from the Strategic Petroleum Reserve into the market to bring down the price of gasoline at the pump for Americans... which was crushing his approval ratings as the average joe's pocket book is eaten alive by Biden-flation...
CNN reports that the Biden administration plans to seek bids this fall to buy 60 million barrels of crude oil as the first step in a years-long process aimed at replenishing America's shrinking emergency oil reserve, an Energy Department official said.
Frankly, when this headline hit we just assumed it was a mistake... but it's not.
Just 6 weeks after President Biden unveiled the greatest, most-massivest, democracy-saving plan to release millions of barrels of oil from the Strategic Petroleum Reserve into the market to bring down the price of gasoline at the pump for Americans... which was crushing his approval ratings as the average joe's pocket book is eaten alive by Biden-flation...
CNN reports that the Biden administration plans to seek bids this fall to buy 60 million barrels of crude oil as the first step in a years-long process aimed at replenishing America's shrinking emergency oil reserve, an Energy Department official said.
An idiot indeed.
Prices fell TEMPORARILY, as expected, now have returned to even higher prices.
Frankly, when this headline hit we just assumed it was a mistake... but it's not.
Just 6 weeks after President Biden unveiled the greatest, most-massivest, democracy-saving plan to release millions of barrels of oil from the Strategic Petroleum Reserve into the market to bring down the price of gasoline at the pump for Americans... which was crushing his approval ratings as the average joe's pocket book is eaten alive by Biden-flation...
CNN reports that the Biden administration plans to seek bids this fall to buy 60 million barrels of crude oil as the first step in a years-long process aimed at replenishing America's shrinking emergency oil reserve, an Energy Department official said.
Combination of being senile, a career politician, and an idiot. A puppet with dumb string pullers voted in by dimwits and election fraud.
Diesel where I live has doubled since Potato. $5.40 and rising.
Prices fell TEMPORARILY, as expected, now have returned to even higher prices.
ANYTHING this idiot does makes things worse.
And with his cancelling of student debt, that is an INFLATIONARY move that will push the price of everything (gas included) up. Instead of indebted people using part of their budget to pay off the debts that they volutarily took on, they now have extra money in their budget to buy other stuff, which is an inflationary effect.
And who filled that reserve when prices were low? Trump.
America is now in a position in History where we need a Businessman NOT a Politician to lead us out of this mess. Biden and his elite A team are so out of touch with basic economics it is crazy but then again what do they care? They have been spending others peoples money for years and now they have our credit card that they are maxing out.
The only way to drop fuel prices and (hint to Biden) Everything depends on fuel is to make more of it.
Producing more oil is not like Printing more money. Oil is a tangible commodity.
The Left screams about BIG OIL but who are they helping here?
And who filled that reserve when prices were low? Trump.
America is now in a position in History where we need a Businessman NOT a Politician to lead us out of this mess. Biden and his elite A team are so out of touch with basic economics it is crazy but then again what do they care? They have been spending others peoples money for years and now they have our credit card that they are maxing out.
The only way to drop fuel prices and (hint to Biden) Everything depends on fuel is to make more of it.
Producing more oil is not like Printing more money. Oil is a tangible commodity.
The Left screams about BIG OIL but who are they helping here?
^Yep, Trump topped off the tanks when oil was $31/barrel.
U.S. to fill strategic oil reserve 'to the top,' Trump says
By Timothy Gardner, Humeyra Pamuk
MARCH 13, 2020
Quote:
WASHINGTON (Reuters) - 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.
“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,” Trump, a Republican, told reporters at the White House. “We’re going to fill it right up to the top,” he added without offering details.
The Strategic Petroleum Reserve has the capacity to store up to an additional 77 million barrels of oil, a Department of Energy official said, after Trump spoke. The official did not immediately comment on how fast the oil would be purchased for the reserve which currently holds 635 million barrels.
It was the first move by a president to fill the SPR since President George W. Bush, a Republican, ordered a fill to capacity in the wake of the Sept 11, 2001 attacks.
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.
“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,” Trump, a Republican, told reporters at the White House. “We’re going to fill it right up to the top,” he added without offering details.
Mild Trump derision. What details did they need? Here, I've give your details: The top is that part of the reserves opposite the bottom. As far from the bottom as is physically possible and still be part of the reserve. If you need a definition of "bottom" it's pretty much the above but reversed. Like how it is now.
Last edited by clutchcargo777; 05-05-2022 at 09:22 AM..
And with his cancelling of student debt, that is an INFLATIONARY move that will push the price of everything (gas included) up. Instead of indebted people using part of their budget to pay off the debts that they volutarily took on, they now have extra money in their budget to buy other stuff, which is an inflationary effect.
Honest question,
How is cancelling student debt NOW going to be an inflationary move when people haven’t been paying student loans for over two years already? Wouldn’t the inflationary effect have already occurred, since people have already been spending that extra $500 a month for over two years already?
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