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Started By
Message
re: Biden To Release 10 Million Barrels from the Strategic Oil Reserve
Posted on 10/5/22 at 11:04 am to LSUnation78
Posted on 10/5/22 at 11:04 am to LSUnation78
I drove my truck to work the past week before I can't do that.
I got a compact car for the drive but it was nice having the freedom to not look at my pocketbook to see if I was spending $500 in gas back and forth to work
I got a compact car for the drive but it was nice having the freedom to not look at my pocketbook to see if I was spending $500 in gas back and forth to work
0
Posted on 10/5/22 at 11:07 am to CU_Tigers4life
OPEC going in dry
reminding Biden who his real Daddy is
UNTIL we turn course and get back to energy independence - which will happen - but first there will be PAIN
reminding Biden who his real Daddy is
UNTIL we turn course and get back to energy independence - which will happen - but first there will be PAIN
Posted on 10/5/22 at 11:08 am to CU_Tigers4life
So 5 days of OPECS decreased production.
frick this administration.
frick this administration.
Posted on 10/5/22 at 11:09 am to tarzana
quote:
Nasty
All you progressives are just that.
Posted on 10/5/22 at 11:11 am to CU_Tigers4life
Do we even have 10 million barrels left?
Posted on 10/5/22 at 11:13 am to burger bearcat
quote:
Calling Celtic Dog, Tarzana, CWill, Tboy,, AggieHank
You think those groomers care? By any means necessary is their motto
Posted on 10/5/22 at 11:14 am to CU_Tigers4life
Posted on 10/5/22 at 11:16 am to CU_Tigers4life
odd. the Whitehouse has no plans to replace any of the reserve until 2023.
they are laying a speed bump for when the rightful President is reelected.
they are laying a speed bump for when the rightful President is reelected.
Posted on 10/5/22 at 11:16 am to CU_Tigers4life
That stupid SOB will completely drain the reserve trying to save his arse in the midterms. Our daily consumption is about 20 million barrels . A 10 million barrel release will not even give 1 days relief. What a complete and utter moron.
Posted on 10/5/22 at 11:17 am to CU_Tigers4life
quote:
Biden To Release 10 Million Barrels from the Strategic Oil Reserve
Posted on 10/5/22 at 11:18 am to burger bearcat
quote:
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).
THE ENDS JUSTIFY THE MEANS! Geez how mane times do we have to tell you all this?
- The idiots mentioned in burger bearcat's post
This post was edited on 10/5/22 at 11:19 am
Posted on 10/5/22 at 11:18 am to CU_Tigers4life
I had Bloomberg on and caught it as the discussion was happening between the hosts. These are my notes in OMLs thread:
quote:
I just turned on Bloomberg and the admin is still going to draw from the SPR an additional 10 million barrels next month.
They're consulting with congress on additional tools and authorities to reduce OPEC's control on energy prices. "NOPEC" countries will have to abide by US anti-trust laws.
Biden said OPEC is acting short-sightedly.
ETA: Russia is going to refuse to sell to countries that embrace the price cap on oil.
Posted on 10/5/22 at 11:18 am to SingleMalt1973
They’re just trying to get through November. If anything, more Russia oil should come off the market in December and January when new sanctions are scheduled to be enforced. It’s going to be really bad next year. They’ll probably target the O&G companies as punishment for OPEC further driving production to national oil companies rather than trying to foster greater production hereS
Posted on 10/5/22 at 11:25 am to OU Guy
That is an ugly damn graph. We need to string a bunch of motherfrickers up.
This post was edited on 10/5/22 at 12:46 pm
Posted on 10/5/22 at 11:27 am to C
quote:
They’re just trying to get through November. If anything, more Russia oil should come off the market in December and January when new sanctions are scheduled to be enforced. It’s going to be really bad next year. They’ll probably target the O&G companies as punishment for OPEC further driving production to national oil companies rather than trying to foster greater production hereS
Russian oil isn't coming off the market. Sanctions re oil were announce well ahead of time in order to allow the Russians to shift to other markets. What could affect prices over time is the degradation of Russian production due to lack of equipment, tech and western know-how.
Posted on 10/5/22 at 11:31 am to SingleMalt1973
I believe we are currently still releasing a million barrels a day, this will bring the total he talked about 180 million barrels (back in March) to 165 million barrels and is incremental to the million a day.
As you guys mentioned, a drop in the bucket, the US uses, iirc over 16 million barrels a day.
Here is the laughable part from the DOE announcement "Its to keep prices lower until the expected rebound in domestic production in 2023. The reason production may rebound is because YOU, THE BIDEN CLOWNS have driven the price so high that even grannies with a soup spoon will be digging.
Seriously, not near the capital is flowing into the industry as expected.....at least not in the US due to the uncertainty. They say your production costs are about 25 bucks a barrel in Guyana without the onerous restrictions of the US, capital knows no boundaries it always follows the return...and it aint in the US.
As you guys mentioned, a drop in the bucket, the US uses, iirc over 16 million barrels a day.
Here is the laughable part from the DOE announcement "Its to keep prices lower until the expected rebound in domestic production in 2023. The reason production may rebound is because YOU, THE BIDEN CLOWNS have driven the price so high that even grannies with a soup spoon will be digging.
Seriously, not near the capital is flowing into the industry as expected.....at least not in the US due to the uncertainty. They say your production costs are about 25 bucks a barrel in Guyana without the onerous restrictions of the US, capital knows no boundaries it always follows the return...and it aint in the US.
Posted on 10/5/22 at 11:32 am to Wildcat1996
Here’s the 2m OPEC cuts notice it goes til Dec 23 too:
Oh, and USA oil production is flat at 12mln bpd vs 13.1mln under Trump when oil was in $50's
Oh, and USA oil production is flat at 12mln bpd vs 13.1mln under Trump when oil was in $50's
Posted on 10/5/22 at 11:42 am to OU Guy
API weekly oil and products inventory report:
Crude -1.770M
Gasoline -3.474M
Distillate -4.046M
Cushing +0.925M
—-
EIA weekly oil and products inventory report:
Crude: -1.356
Cushing: +0.273
Gasoline: -4.728
Distillates: -3.443
Crude -1.770M
Gasoline -3.474M
Distillate -4.046M
Cushing +0.925M
—-
EIA weekly oil and products inventory report:
Crude: -1.356
Cushing: +0.273
Gasoline: -4.728
Distillates: -3.443
Posted on 10/5/22 at 11:51 am to VoxDawg
China is taking it and reselling it at higher prices
Posted on 10/5/22 at 11:52 am to OU Guy
When they lose the midterms you impeach Biden for this. He won't replenish the SPR and he will have broken the law. Not to mention he will have drained it for blatant political purposes.
Beat him and the Dems with this over their heads like using a bat. This, inflation, the border and crime and pound pound pound. When the media rides to the rescue flip them off and double down.
Beat him and the Dems with this over their heads like using a bat. This, inflation, the border and crime and pound pound pound. When the media rides to the rescue flip them off and double down.
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