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Did you read your link? It's 10 million bbl - hardly a "massive" amount and it is part of the original 180 million bbl announced many months ago. This increment will bring the total to 165 million bbl leaving another 15 million that you can start another misleading thread about in a couple months.
Then after some months of this,when China sees us at our weakest point since Pearl Harbor, decides that it's now or never for Taiwan and attacks them, and we send out a large flotilla of aircraft carriers, battleships, cruisers, destroyers, submarines, tankers, supply ships etc. (only half of which are nuclear-powered) to defend our ally ... we'll find that we don't have enough fuel oil, gasoline for the planes, etc. to steam 6,000 miles to get there, fight several major battles, and steam all the way back.
Is the purpose of a "Strategic Petroleum Reserve" to buy the party in power some votes by lowering the price of gasoline at home?
Or is is something completely different from that?
Did you read your link? It's 10 million bbl - hardly a "massive" amount and it is part of the original 180 million bbl announced many months ago. This increment will bring the total to 165 million bbl leaving another 15 million that you can start another misleading thread about in a couple months.
Biden wants to end our use of oil and gas in favor of unreliable and insufficient green energy.
People should be up in arms more than they are right now.
No one should even be listening to your nonsense here.
Then after some months of this,when China sees us at our weakest point since Pearl Harbor, decides that it's now or never for Taiwan and attacks them, and we send out a large flotilla of aircraft carriers, battleships, cruisers, destroyers, submarines, tankers, supply ships etc. (only half of which are nuclear-powered) to defend our ally ... we'll find that we don't have enough fuel oil, gasoline for the planes, etc. to steam 6,000 miles to get there, fight several major battles, and steam all the way back.
Is the purpose of a "Strategic Petroleum Reserve" to buy the party in power some votes by lowering the price of gasoline at home?
Or is is something completely different from that?
The purpose is to cover supply disruptions which is exactly what is is being used for. This time there will be a further benefit that will emerge. When it comes time to refill the stocks, the Biden admin will contract for oil at a price near market - now around $85 a barrel. That of course is far less than they sold most of it for, so there is that, but it is not the big benefit. What will happen is that the government buying at a fixed rate will put a floor under oil prices giving protection to producers who might want to flee the market in the face of falling demand like they during the Trump administration. The floor acts much like milk price supports and will keep the wells open while ensuring ample supplies and stable prices for consumers.
The 10 million bbl sale is less than 1/2 day US consumption and less than US oil produces in a day. It is not going to matter in a war with China - utter nonsense.
If they happen to be the highest bidder like before. Which they probably will be, since the world continues throwing money at them. They are pretty good at this capitalism stuff. Brandon can't even be trusted to play Monopoly. The small pieces are a choking hazard.
Quote:
Originally Posted by Roboteer
Great idea.
Then after some months of this,when China sees us at our weakest point since Pearl Harbor, decides that it's now or never for Taiwan and attacks them, and we send out a large flotilla of aircraft carriers, battleships, cruisers, destroyers, submarines, tankers, supply ships etc. (only half of which are nuclear-powered) to defend our ally ... we'll find that we don't have enough fuel oil, gasoline for the planes, etc. to steam 6,000 miles to get there, fight several major battles, and steam all the way back.
Is the purpose of a "Strategic Petroleum Reserve" to buy the party in power some votes by lowering the price of gasoline at home?
Or is is something completely different from that?
I think the greater question would be how are we going to fight any war led by a president who still thinks we fight wars with trebuchets, ballistas and horse cavalry and people get their news from a record player???
Did you read your link? It's 10 million bbl - hardly a "massive" amount and it is part of the original 180 million bbl announced many months ago. This increment will bring the total to 165 million bbl leaving another 15 million that you can start another misleading thread about in a couple months.
AT what point will you become worried? When it's drained?
Biden has been lucky so far, in the sense it has been one of the quietest hurricane seasons on record. However Puerto Rico just got hit. He is playing with water on this one.
He promised Europe that the US would give them oil for as long as the Ukraine war lasted.
Only no one thought it would last this long.
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