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re: US Dept of Energy preparing to start SPR refill purchases
Posted on 3/2/23 at 6:12 pm to fightin tigers
Posted on 3/2/23 at 6:12 pm to fightin tigers
quote:
You realize the highest bidder gets the oil, right?
Whoa, wait a minute. Vlad Putin and Xi Jinging be pals now....right? So does this mean Chyna gets their oil (and gas) from the Ruskies? Effectively denying the "Big Guy" a nice fat 10% cut?
Sigh! So how can Creepy Joe Biden screw this thing up more than it is?
Things be heatin up. It do.
This post was edited on 3/2/23 at 6:16 pm
Posted on 3/2/23 at 6:28 pm to Zarkinletch416
It sells on the global market in order to get the best price. If you limit outside buyers really you would likely only screw yourself (i.e. the taxpayer). The stockholders of the buyers would still profit though.
Even then, you could have someone like P66 or potentially a mid-stream play to blend the crude then sell it on the open market as a refined product.
Honestly, the sale shouldn't be happening and the buying shouldn't be happening right now, but Congress moves slow (by design) and have zero chance of reacting to market changes because of the design.
Even then, you could have someone like P66 or potentially a mid-stream play to blend the crude then sell it on the open market as a refined product.
Honestly, the sale shouldn't be happening and the buying shouldn't be happening right now, but Congress moves slow (by design) and have zero chance of reacting to market changes because of the design.
This post was edited on 3/2/23 at 6:28 pm
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