MothMan
.338 Win Mag
E Syracuse BJ's price down from high now $3.94
Biden to release massive amounts of oil from the strategic reserve
- Thread starter Saltwater60
- Start date
Acer-m14
20×102mm Vulcan
hope all the Navy's Fleets are fully fueled
96coal449
.308 Win
Dropped 10 cents last week. Now its at another 10 cent increase.
I never felt any relief.
spat
.950 JDJ
Impossible. Oil is a fungible asset.
Even if you tracked every gallon to ensure it was burned in the US, that reduces the number of gallons we import and makes them available to the rest of the world at a lower cost.
As someone predicted on this forum, the Zhou Bia-Den cabal has started to refill the SPR, obviously at higher prices than when it was partially emptied.
U.S. unveils plan to buy back 60 mln barrels for emergency oil stockpile
Releasing has had little effect on gas prices and is now at $4.579 in The 'Hood...which is exactly what "they" want.
The "purposeful incompetence" continues to destroy the nation, while the NPC zombies continue to wear masks and fly the Ukrainian flag.
We are definitely living in "Retard Nation".
U.S. unveils plan to buy back 60 mln barrels for emergency oil stockpile
Releasing has had little effect on gas prices and is now at $4.579 in The 'Hood...which is exactly what "they" want.
The "purposeful incompetence" continues to destroy the nation, while the NPC zombies continue to wear masks and fly the Ukrainian flag.
We are definitely living in "Retard Nation".
Bloomberg - Are you a robot?
"The Biden administration plans to sell more crude oil from the Strategic Petroleum Reserve, fulfilling budget directives mandated years ago that it had sought to stop as oil prices have stabilized.
The congressionally mandated sale will amount to 26 million barrels of crude, according to people familiar with the matter. The sale is in accordance with a budget mandate enacted in 2015 for the current fiscal year, said a spokesperson for the Department of Energy. "
Bold, highlighted phrase...
So, a 2015 law requires treasonous behavior?
Well, it was still the "Obola Terrorism Regime" then.
"The Biden administration plans to sell more crude oil from the Strategic Petroleum Reserve, fulfilling budget directives mandated years ago that it had sought to stop as oil prices have stabilized.
The congressionally mandated sale will amount to 26 million barrels of crude, according to people familiar with the matter. The sale is in accordance with a budget mandate enacted in 2015 for the current fiscal year, said a spokesperson for the Department of Energy. "
Bold, highlighted phrase...
So, a 2015 law requires treasonous behavior?
Well, it was still the "Obola Terrorism Regime" then.
Saltwater60
20×102mm Vulcan
It’s because the Russians are cutting production. Why in a time of war are they cutting production I don’t know but they are supposedly.
Jsmegs77
.308 Win
More likely they’re cutting exports and keeping their production within their own borders. But this is just conjecture…
Saltwater60
20×102mm Vulcan
That would make sense
Jsmegs77
.308 Win
Indeed and it would make sense for the US to do the same. But this is clown world and stupid is smart and smart is criminalized.
Yea we definitely wouldn't want to hold that back and keep it available in reserve.....for emergencies!!
Nah, let's whore it out instead for political clout to buy votes and approval, let's just double down compensating for stupid decisions.
Nah, let's whore it out instead for political clout to buy votes and approval, let's just double down compensating for stupid decisions.
TEOTWAWKI inc.
.338 Win Mag
The next president would really have their work cut out for them, but NOBODY has any real intention of fixing this country to begin with. It just happens to be Biden's turn to run it into the ground. Both sides suck. The only remaining hope we have is to do away with the uniparty.
RedBreast21
6.5 Creedmoor
There is a lot to unpack with this topic. I'll just scratch the surface.
We still have obligations under contract to sell oil to China and have done so under Biden. Yeah we do. A deal under Trump. Since we don't produce enough oil to sell anymore we have to purchase it or release it from the reserves. This release is small like the other one. The price at the pump is explained below.
Last summer, Biden bought Russian oil and got around the sanctions through India. That caused roughly a dollar drop in gas for the mid terms. This came out when a Reuters reporter was interviewing the Indian representative at the Eastern Economic Forum when she ask about India's 5 million barrel purchase of Russian oil. He laughed an ask what she thought of Americas 25+ million barrels purchase. Russia sells oil to BRICS members at a reduced rate. It appears India bought it for around 45 a barrel and sold it to the U.S. for around 60. Well under Saudi market value. lol
The West recently capped Russian oil at $60.00 but Putin now will not sell any oil to the West that would violate the Wests own 60.00 cap. He has contracts with Asia at a higher price point that will keep Russia in the black for a very long time. In fact Russia has no oil to sell the West unless they increase production. Which they just cut. All of current production is allocated to Asia. Saudi Arabia and Putin setting the price and production levels.
Saudi Arabia will be a BRICS member soon and recently said they will accept ANY currency for the purchase of Saudi oil. No need for US dollar backed perto dollar. If you don't understand the petro dollar, research it.
Russia this week will dump their "rainy day reserve" currency the Dollar and Euro, banking in only China's Yuan and Ruble's or other BRICS currencies.
Argentina and Brazil (the B in BRICS) will join economies dumping the dollar. As will Egypt and Algeria.
What a tangled web we weave. So bad that we have half the country believing aliens are invading from space. Talk about wag the dog. lol
We still have obligations under contract to sell oil to China and have done so under Biden. Yeah we do. A deal under Trump. Since we don't produce enough oil to sell anymore we have to purchase it or release it from the reserves. This release is small like the other one. The price at the pump is explained below.
Last summer, Biden bought Russian oil and got around the sanctions through India. That caused roughly a dollar drop in gas for the mid terms. This came out when a Reuters reporter was interviewing the Indian representative at the Eastern Economic Forum when she ask about India's 5 million barrel purchase of Russian oil. He laughed an ask what she thought of Americas 25+ million barrels purchase. Russia sells oil to BRICS members at a reduced rate. It appears India bought it for around 45 a barrel and sold it to the U.S. for around 60. Well under Saudi market value. lol
The West recently capped Russian oil at $60.00 but Putin now will not sell any oil to the West that would violate the Wests own 60.00 cap. He has contracts with Asia at a higher price point that will keep Russia in the black for a very long time. In fact Russia has no oil to sell the West unless they increase production. Which they just cut. All of current production is allocated to Asia. Saudi Arabia and Putin setting the price and production levels.
Saudi Arabia will be a BRICS member soon and recently said they will accept ANY currency for the purchase of Saudi oil. No need for US dollar backed perto dollar. If you don't understand the petro dollar, research it.
Russia this week will dump their "rainy day reserve" currency the Dollar and Euro, banking in only China's Yuan and Ruble's or other BRICS currencies.
Argentina and Brazil (the B in BRICS) will join economies dumping the dollar. As will Egypt and Algeria.
What a tangled web we weave. So bad that we have half the country believing aliens are invading from space. Talk about wag the dog. lol
As We Sell Off Our Strategic Oil Reserves, Ponder This
"Sadly, some of these reserves found their way into the export market and ended up in China. We now have proof that the President's son Hunter had a Chinese Communist Party member as his assistant while dealing with the Chinese. Apparently, he played a role in the shipping of American natural gas to China in 2017. It seems the Biden family was promising business associates that they would be rewarded once Biden became president. Biden's actions could be viewed as those of a traitor or at least disqualify him from being President."
"Sadly, some of these reserves found their way into the export market and ended up in China. We now have proof that the President's son Hunter had a Chinese Communist Party member as his assistant while dealing with the Chinese. Apparently, he played a role in the shipping of American natural gas to China in 2017. It seems the Biden family was promising business associates that they would be rewarded once Biden became president. Biden's actions could be viewed as those of a traitor or at least disqualify him from being President."