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CU_Tigers4life
Clemson Fan
Georgia
Member since Aug 2013
6647 posts

Biden To Release 10 Million Barrels from the Strategic Oil Reserve

Fox News just reported this. I didn't catch the details but I'm sure it will be before the elections to keep the prices artificially low.


UPDATE:

Fox finally posted the story

Biden To Release 10 Million Barrels in November
This post was edited on 10/5 at 12:22 pm


elposter
Atlanta Braves Fan
Member since Dec 2010
21533 posts

quote:

10 Million Barrels




That will barely fuel dems' private jets for a couple days.


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311
Figgy
Florida Fan
CenCal
Member since May 2020
4666 posts

The release is for next month.


Northwestern tiger
Minnesota Fan
Long Island NY
Member since Oct 2005
22687 posts

This should be illegal.

Manipulating the elections. Should be investigated
This post was edited on 10/5 at 10:53 am


CU_Tigers4life
Clemson Fan
Georgia
Member since Aug 2013
6647 posts

quote:

The release is for next month.


I didn't catch that part. As soon as the story gets posted online I'll included a link in my OP


OU Guy
Oklahoma Fan
Member since Feb 2022
1839 posts

Total oil



VoxDawg
Georgia Fan
Glory, Glory
Member since Sep 2012
50925 posts
 Online 

Make China Great Again!


burger bearcat
USA Fan
Member since Oct 2020
6609 posts

Calling Celtic Dog, Tarzana, CWill, Tboy,, AggieHank

Come in here and defend this. Why are they depleting our SPR for political reasons before the election? Are you ok with this? Knowing full well its going to come back and bite us severely in the arse when we have to refill, and even more so if God for bid there was an emergency we actually needed the SPR for the purpose it is supposed to serve (not temporarily help a political party in an election year).


LSUnation78
US Space Force Fan
Northshore
Member since Aug 2012
9348 posts
 Online 

Thats 5 days worth of production OPEC just cut.



5 days


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180
Ross
Auburn Fan
Member since Oct 2007
46759 posts

I thought we were down to like 60 million barrels and we have to by law replenish them by the end of the year or something.

I'm obviously missing something.


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LSUnation78
US Space Force Fan
Northshore
Member since Aug 2012
9348 posts
 Online 

You’re missing the part where most of the country has no idea we have to restock the SPR.

Or that eventually, we wont be able to continue releasing magic oil and will then be dependent on the oil market. All while refusing to do anything that increases domestic production.


They just need to keep it reasonable for another month or so. After that, good luck everyone
This post was edited on 10/5 at 10:59 am


tarzana
LSU Fan
TX Hwy 6, 74 miles SE of Kyle Field
Member since Sep 2015
20650 posts
 Online 

Nasty!


14&Counting
California Fan
Huntington Beach, CA
Member since Jul 2012
33342 posts
 Online 

These dipshits will never just see the light and open up domestic production.


burger bearcat
USA Fan
Member since Oct 2020
6609 posts

quote:

This should be illegal.

Manipulating the elections. Should be investigated



Agreed. Why even have the reserves if they aren't being used as intended. They arent there for a president to dip into them whenever his poll numbers are bad. There should be some sort of approval process. We all paid for that oil to be reserved for an emergency, and saving the Dems arse in an election year is not the kind of emergency we are talking about.


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170
SlickRick55
Member since May 2016
1385 posts

The one thing he knows how to do well, and do without activating excessive brain cells.


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00
Wildcat1996
Texas A&M Fan
Lexington, KY
Member since Jul 2020
4254 posts

OPEC announces cutting production by 2 million barrels per day and we announce a release of 10 from the SPR...less than a week's worth of production.

WSJ

quote:

OPEC+ Agrees to Biggest Oil Production Cut Since Start of Pandemic
Producers agree to plan to slash two million barrels a day in a move that will boost prices and help Moscow

VIENNA—The Organization of the Petroleum Exporting Countries and its Russia-led allies on Wednesday agreed to slash two million barrels of oil a day, delegates said, in a move likely to push up already-high global energy prices and help oil-exporting Russia pay for its war in Ukraine.

The decision could undermine a plan by the Group of Seven wealthy nations to cap the price of Russian oil on the global market, a key part of the West’s economic battle with Moscow. It came less than three months after President Biden visited Saudi Arabia, the OPEC’s de facto leader, in a bid to repair relations between the world’s biggest oil consumer and its biggest crude-oil exporter during a period of rising inflation driven in part by high energy prices.



4D Chess right there.


teke184
LSU Fan
Zachary, LA
Member since Jan 2007
80325 posts

Yeah this ain’t going to counteract the massive cuts in production that OPEC is planning.


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30
LSUbest
US Army Fan
Coastal Plain
Member since Aug 2007
7211 posts

quote:

Biden To Release 10 Million Barrels from the Strategic Oil Reserve


He should sell it for a couple of trillion dollar loss, to China.


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20
ob1pimpbobi
Houston Astros Fan
Member since Jul 2022
986 posts
 Online 

Another genius move from the adults that are now in charge.

frick, I can't even get angry about these people anymore. My give a shite meter is broken.


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90
wutangfinancial
LSU Fan
Treasure Valley
Member since Sep 2015
9660 posts

quote:

I thought we were down to like 60 million barrels and we have to by law replenish them by the end of the year or something.



Yes. You're missing the fact that "the law" is subjective when Democrats are in charge. Nobody is going to enforce it.


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