re: The President: America benefits when oil prices increase

You're lucky. Those with diesel - pumps literally shut off before filling the tank (when almost empty) at a higher price point.

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I do believe back then there was some sort of law or Congressional mandate for periodic releases from the SPR, because I remember around 2023 or 2024 discussions for that mandate to be repealed.

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It was a law. I can’t remember when it started, but I think it was supposed to be about reducing deficit but congress often just spent it anyway without much of a deficit reduction overall. The idea began in part because of how much Bush had filled it. These sell offs gradually started to reduce it.

I do remember the Dems blocking Trump from refilling as much as he wanted when oil took a dive initially with covid. I think it required extra funding which they would not allow. I can’t remember their reasoning. Maybe they thought it would help oil’s stock when leftist hedge funds were buying up the stock to get seats on the board of Exxon and others.

It would have been a relatively cheap way to increase its levels which considering Biden’s Autopen selling it off due to effect of Russia Ukraine war and sanctions and those board seats not completely changing oil companies like they wanted it kind of backfired on them or on us I guess.

EDIT: Found this so it might have started in 2015.

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Instead of passing balanced budgets, in 2015, Congress mandated that the U.S. Department of Energy sell SPR oil to fund its deficit spending.

Since then, the DOE has sold SPR reserves to the highest bidder through competitive public auctions to anyone in the world. During the Biden and Trump administrations, foreign companies with direct ties to American adversaries purchased SPR oil for anti-democratic regimes.

In 2022, in response to energy policies he implemented that directly contributed to high energy costs and inflation, President Joe Biden instructed the DOE to release 1 million barrels of SPR oil a day for 180 days. Chinese companies benefited from the sale, purchasing large quantities. The 2022 release was the largest SPR sale in U.S. history, according to US Energy Information Administration data.

Biden left the SPR with less than 395 million barrels of crude oil.

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You can see the decline starting in 2015 with the sell off law. There was was a small spike under Trump where it jumped up some before going down again. Some time around then is when Trump wanted to fill it with covid induced low prices, but again Dems didn’t allow it. Then you see Biden’s Autopen 2022 draining of it.

Here are some of the IEA coordinated drawdowns outside of the “deficit reduction” automatic drawdowns authorized by Congress.
https://www.energy.gov/hgeo/opr/history-spr-releases

https://fortune.com/2024/06/06/biden-sold-off-nearly-50-of-the-strategic-petroleum-reserve-is-that-a-problem/

Biden’s Autopen and congress authorized additional selling off it 2024

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Section 308 of the 2024 Consolidated Appropriations Act mandated that "the Secretary of Energy shall draw down and sell one million barrels of refined petroleum product from the Strategic Petroleum Reserve during fiscal year 2024" and then "carry out the closure of the Northeast Gasoline Supply Reserve."

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https://reason.com/2024/07/03/energy-department-turns-ordinary-gasoline-sale-into-major-announcement/

I wonder if gas prices are a democratic hoax too. Like affordability is a democratic hoax, and the Epstein files are a democratic hoax.

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mainly increased revenue into the national treasury

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I don't give a frick about how much money the treasury has until my taxes go down. shite does me no good because I pay for my own groceries, don't run Learing Centers, and don't care about overthrowing the Ayatollah.

Thank you. I like graphs and stats.

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You can see the decline starting in 2015

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Looks stable af between late 2011 and March 2017 to me



2011-Oct 10/07 695,956
2020-Feb 02/24 695,076

LINK if you'd like confirmation on these numbers

Legitimately curious, but has the political board always been far right?

I’m right in the middle on a lot of subjects but if anyone says anything negative of Trump over there, it’s 10 to 1 downvotes

Has it always been like that?

You think Trump is far right?

Because people who actually listen to him are retards. Take a look at the Political Board for confirmation of this.

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I don't give a frick about how much money the treasury has until my taxes go down. shite does me no good

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I understand your frustration, but you are simply incorrect here. It does indeed do you good. It means your government creates less money. And when your government creates money it is a secret tax on you.