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Old 08-23-2022, 07:25 PM
 
Location: Arizona
6,137 posts, read 3,867,540 times
Reputation: 4900

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The USA consumes 20.6 million barrels a day of oil according to a PBS article.

Joe Biden is emptying out the reserves at a rate of 8 million barrels a week and the country now only has 22 days of oil consumption in reserves left.

https://www.zerohedge.com/energy/us-...ls-35-year-low

https://markets.businessinsider.com/...eleases-2022-8

https://markets.businessinsider.com/...eleases-2022-8

https://www.pbs.org/wgbh/americanexp...tor%20vehicles.
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Old 08-23-2022, 07:36 PM
 
Location: NMB, SC
43,142 posts, read 18,298,681 times
Reputation: 35024
He promised Europe to replace their Russian oil with American oil for the duration of the war. I wonder what Biden will do when the reserves reach zero
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Old 08-23-2022, 07:38 PM
 
30,181 posts, read 11,815,563 times
Reputation: 18698
Quote:
Originally Posted by lovecrowds View Post
The USA consumes 20.6 million barrels a day of oil according to a PBS article.

Joe Biden is emptying out the reserves at a rate of 8 million barrels a week and the country now only has 22 days of oil consumption in reserves left.

https://www.zerohedge.com/energy/us-...ls-35-year-low

https://markets.businessinsider.com/...eleases-2022-8

https://markets.businessinsider.com/...eleases-2022-8

https://www.pbs.org/wgbh/americanexp...tor%20vehicles.

So according to one of your links we are down 6% below the 5 year average. I am not a fan of Biden but gas prices are way down. Seems like the plan is working:

For that week, U.S. crude oil inventories, excluding those in the SPR, were at only 425 million barrels, or 6% below the five year average.
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Old 08-23-2022, 07:39 PM
 
Location: Arizona
6,137 posts, read 3,867,540 times
Reputation: 4900
I thought these oil reserves were for emergencies only when there was a major shortage of oil needed to ensure national security?

Biden used the strategic oil reserves to try to the Democrats approval rating up before a mid-term election.
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Old 08-23-2022, 07:51 PM
 
30,181 posts, read 11,815,563 times
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Quote:
Originally Posted by lovecrowds View Post
I thought these oil reserves were for emergencies only when there was a major shortage of oil needed to ensure national security?

Biden used the strategic oil reserves to try to the Democrats approval rating up before a mid-term election.
No. According to the department of energy:

https://www.energy.gov/fecm/strategic-petroleum-reserve

The Strategic Petroleum Reserve (SPR), the world's largest supply of emergency crude oil was established primarily to reduce the impact of disruptions in supplies of petroleum products.

We have supply issues which is why oil prices went way up. If Biden did not do this there would be chatter from the right that he wants high oil prices. I think this was the correct move. Prices have gone down. That is good for the country. I care more about what is good for the country than scoring partisan political points. If the dems benefit a little politically who cares.
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Old 08-23-2022, 08:47 PM
 
27,159 posts, read 15,330,669 times
Reputation: 12079
Anything Biden can do that is not good for the nation, he does.
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Old 08-23-2022, 08:51 PM
 
Location: King County, WA
15,850 posts, read 6,554,586 times
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Sounds like we need a larger reserve.
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Old 08-23-2022, 08:55 PM
 
27,658 posts, read 16,147,064 times
Reputation: 19081
Not only maxed out the cards, but emptied the pantry. WTFJB
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Old 08-23-2022, 08:55 PM
 
Location: San Diego
18,741 posts, read 7,620,616 times
Reputation: 15011
Joe Biden empties Emergency Oil Reserves to just 22 days of average consumption, drawing down 8 million barrels a week


Sounds like the perfect time for China to invade Taiwan.

Our ships will run out of fuel ('cept the nuclear ones) just getting there to fight in defense of our ally Taiwan, and within a week we won't have any more to send them.

GREAT plan, Joe.
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Old 08-23-2022, 09:12 PM
 
1,141 posts, read 449,984 times
Reputation: 2089
Quote:
Originally Posted by Oklazona Bound View Post
So according to one of your links we are down 6% below the 5 year average. I am not a fan of Biden but gas prices are way down. Seems like the plan is working:

For that week, U.S. crude oil inventories, excluding those in the SPR, were at only 425 million barrels, or 6% below the five year average.
LOL, prices are way down from his astronomical highs. But they are way up since old joe "won" the election. It is funny anyone can use the words, gas prices are down when it is still double election day prices here in my area.

joe is a buffoon, his handlers are anti American, and everything is higher priced and in lower supply. joe and his administration are a classic example of what happens when you put idiots in charge. Give me back orange hair, mean tweets and $1.51 gas.
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