Banned
It's the strategic reserve you retarded bitch.Originally Posted by ThatOwlWoman
Apparently he also believes that we are a socialist nation and that the government controls commodities like oil.
Senior Member
JPP Contributor
Russia invaded Ukraine. Europe is reducing their purchases of Russian oil. The only way to do that is for other sources to be found.
Oil is fungible. Unless you are demanding that Biden nationalize US oil fields and take over oil companies oil sells worldwide to the highest bidder.
Are you Reuters? Or are you willing to accept anonymous sources without question no matter the topic?
"We are all born ignorant, but one must work hard to remain stupid."
"Any fool can criticize, condemn and complain - and most fools do."
Guno צְבִי (07-07-2022)
Banned
Oh gee after his 2 year moratorium.
Instead of paying 12.5 percent, companies will now pay 18.75 percent. Further, the administration reduced the lands available by 80 percent compared to what the oil and gas industry had suggested.
Banned
Then buy more oil from the Saudis the idea that we're selling them our strategic reserves is insane. Oil is not fungible releasing strategic reserves into the US for US consumption has an immediate impact on US prices not global prices you dumb lying fuck.
Thread Killer
I was mistaken. It was in the Trillion dollar infrastructure bill that passed already.
https://www.naturalgasintel.com/with...oleum-reserve/The House on Tuesday passed a resolution that paves a path for passage of a $1 trillion infrastructure bill that contains more than $500 billion in new spending. A final vote could come in September. The White House confirmed in June that SPR sales would help pay for the government investments, which would include spending on roads and bridges.
https://www.reuters.com/business/us-...nt-2021-06-24/U.S. infrastructure deal includes $6 billion sale from oil reserve -document
https://www.nasdaq.com/articles/u.s....t-2021-06-24-0A sale of that size equals a drawdown of about 82 million barrels, based on Thursday's price of $73 a barrel for West Texas Intermediate crude. That represents about 13% of the reserve's current holdings of nearly 624 million barrels of oil, though if prices rise, the volume of oil would shrink.
Matt Dillon (07-08-2022)
Senior Member
JPP Contributor
Hang on a second. The bill calls for the sale of 13% in 2028-2031.
It seems you got a lot of facts wrong. None of the current sales are a result of the Infrastructure bill.the Secretary of Energy shall draw
down and sell from the Strategic Petroleum Reserve 87,600,000
barrels of crude oil during the period of fiscal years 2028
through 2031.
This was in the one story:
In 2015, the government agreed to sell 58 million barrels between 2018 and 2025.
Last edited by Poor Richard Saunders; 07-07-2022 at 11:12 AM.
"We are all born ignorant, but one must work hard to remain stupid."
"Any fool can criticize, condemn and complain - and most fools do."
Guno צְבִי (07-07-2022)
Banned
So Biden is continuing the treasonous policies of Obama, what's your point?
Verified User
it's not disinfo, captain fucko.
Senior Member
JPP Contributor
Ok. Please provide the receipt where Biden sold oil to China.
An FOIA should take about 2 months. I'll happily wait.
"We are all born ignorant, but one must work hard to remain stupid."
"Any fool can criticize, condemn and complain - and most fools do."
Verified User
Appears “copy and paste” doesn’t know geography, shocker, there are over 48 countries in Asia, China being just one, and Murdoch, his source said Asia, not China, got caught lying again
Get Off My Lawn
The government (Biden) controls our strategic oil reserves. We should not be selling any of it.Apparently he also believes that we are a socialist nation and that the government controls commodities like oil.
FJB
Common sense is not a gift, it's a punishment because you have to deal with everyone who doesn't have it.
Bigdog (07-10-2022)
Verified User
https://www.reuters.com/business/ene...gh-2022-07-05/
Oil from U.S. reserves sent overseas as gasoline prices stay high
By Arathy Somasekhar
3 minute read
Register now for FREE unlimited access to Reuters.com
HOUSTON, July 5 (Reuters) - More than 5 million barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices hit record highs.
The export of crude and fuel is blunting the impact of the moves by U.S. President Joe Biden to lower record pump prices. Biden on Saturday renewed a call for gasoline suppliers to cut their prices, drawing criticism from Amazon founder Jeff Bezos. read more
Bigdog (07-10-2022)
Verified User
when did poor richard saunders become a morally bankrupt globalist shill?
Thread Killer
Wrong! It draws down the reserve for the reasons I listed. The current problem with oil prices made a convenient crisis for the radical Leftists in Joke's administration to start doing it earlier. With world oil production currently at about 90 million bbl per day, adding 1 million is nothing (maybe a 2% increase, if that). Five million bbl in a month is a tiny fraction of 1%. That could be done by increasing production alone and the SPR going untouched.
But Joke is drawing down the SPR while pushing to reduce production.
My point in showing the inclusion of that drawdown in legislation is to demonstrate that the Joke administration's intent is to try and destroy the energy sector and force Americans into using grotesquely expensive wind, solar, and other unworkable energy solutions.
Senior Member
JPP Contributor
I still haven't seem the map that shows China to be part of Europe. Can you pull it out of your ass so the rest of us can see it?
"We are all born ignorant, but one must work hard to remain stupid."
"Any fool can criticize, condemn and complain - and most fools do."
ExpressLane (07-07-2022), Guno צְבִי (07-07-2022)
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