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Our gas prices are up because of shortages yet Biden sells oil to China... guess what China is not going to sell us wheat.. why? Because of shortages.
The USA has the largest area of agriculture friendly land in the entire world. We don't need anyone to sell us wheat.
Almost 50% of what we produce is exported.
Should i break it down for you like you are an idiot?
Ok, fine
2017 - no shortage of oil 2017
2022- oil shortage
See how easy that is?
Wrong, it makes no difference. Oil is an internationally traded, fungible commodity. Any release of any amount of oil to anywhere in the world will effect the world price of oil. It wouldn't matter if the Biden administration released ALL of the SPR's oil to China - that would mean China would buy less oil from somewhere else, which the US and other nations could, in turn, purchase at a discounted price due to extra oil being released on the world market.
It's amazing how economically illiterate right-wingers have become these days.
Democratic corruption and treason knows no boundaries. Open borders, indeed.
The US used to ban exporting crude oil, but in 2015, Congress lifted that ban. Production doubled.
Obama, Trump and now Biden have all sold cruse to the global marketplace. Doing so increases global supply and in absence of increased consumption, lowers the price.
Democratic corruption and treason knows no boundaries. Open borders, indeed.
The oil was sold to the highest bidders in sealed bid auctions. All of the sales were to companies incorporated in the United States, with some of those US corporations owned by foreign companies, including Total of France. At least one US company exported the oil. Not sure how any of that equates to corruption and treason.
Wrong, it makes no difference. Oil is an internationally traded, fungible commodity. Any release of any amount of oil to anywhere in the world will effect the world price of oil. It wouldn't matter if the Biden administration released ALL of the SPR's oil to China - that would mean China would buy less oil from somewhere else, which the US and other nations could, in turn, purchase at a discounted price due to extra oil being released on the world market.
It's amazing how economically illiterate right-wingers have become these days.
Odd, because Joe Biden is laying claim to reducing the price of oil, when previously he had nothing to do with the increase. Just another lying Democrat. He should go back to locking up young black men for minor drug crimes
White House announces sale of additional 20 million barrels of oil from Strategic Petroleum Reserve
The White House announced Tuesday that the Department of Energy will be issuing a notice to sell 20 million more barrels of oil for the Strategic Petroleum Reserve as part of the Biden administration's effort to bring gas prices down.
This makes the fifth such sale that President Biden has authorized. The White House continued to blame "disruptions posed by Russia’s invasion" for the high prices while claiming that the Biden administration's actions are making a tremendous difference.
"In fact, the Department of the Treasury estimates that as a result of these drawdowns both domestically and internationally, the price at the pump for Americans is up to about 40 cents per gallon lower than it otherwise would have been," the White House said in its announcement.
While gas prices are down significantly since a recent national average price of more than $5 per gallon in June, the average as of Tuesday was still $4.327, compared to $3.156 from one year ago, and approximately $2.39 when Biden first took office in January 2021.
Republicans slammed the White House after previous sales from the Strategic Petroleum Reserves after it was made known that millions of barrels were being sent to European and Asian countries, including China.
"The American people deserve answers as to why our emergency energy reserves are being sent to foreign adversaries like the Chinese Communist Party, compromising our energy security and national security," House Energy and Commerce Committee Ranking Member Cathy McMorris Rodgers told Fox News Digital in a statement.
The USA has the largest area of agriculture friendly land in the entire world. We don't need anyone to sell us wheat.
Almost 50% of what we produce is exported.
Fact is because of higher prices of gas and fertilizer, many farmers here will not plant and there is a drought and the cost of water is included with the overhead. Hgher gas , paying for water and fertilizer up 300% in cost is the perfect storm for shortages . Farmers won't plant or they will partially plant or they will not fertilize or water and hope for the best.
Wrong, it makes no difference. Oil is an internationally traded, fungible commodity. Any release of any amount of oil to anywhere in the world will effect the world price of oil. It wouldn't matter if the Biden administration released ALL of the SPR's oil to China - that would mean China would buy less oil from somewhere else, which the US and other nations could, in turn, purchase at a discounted price due to extra oil being released on the world market.
It's amazing how economically illiterate right-wingers have become these days.
Originally Posted by Listener2307 The USA has the largest area of agriculture friendly land in the entire world. We don't need anyone to sell us wheat.
Almost 50% of what we produce is exported.
Quote:
Originally Posted by Taratova
Fact is because of higher prices of gas and fertilizer, many farmers here will not plant and there is a drought and the cost of water is included with the overhead. Hgher gas , paying for water and fertilizer up 300% in cost is the perfect storm for shortages . Farmers won't plant or they will partially plant or they will not fertilize or water and hope for the best.
So IF all that happens we WON'T export 50% of our wheat crop and will pay more for what we get.
I wrote in response to the claim that China will punish us somehow by refusing to sell us wheat. Clearly, we don't need them to sell to us at all. Your claim that China will punish us by "not selling us wheat" is without basis.
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