Biden releasing spr is shortsighted and disappointing leadership

[Anonymous]

Wait, there is a whole 30+ page thread complaining about high gas prices.

People are going to complain about eVerYtHinG.

[Anonymous]

Anonymous wrote:Is he just trying for headlines? I understand he's releasing 50 mil barrels over several months but we use 20 million barrels a day, so it likely would have no real world impact.

It’s not just the US doing it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:“Why won’t Biden Do SoMeThInG, aNyThInG about gas prices, which he himself controls from the secret lair in the Dem White House only Dem presidents know about?!”

“HoW cOuLd He Do ThIs? It*Z fOr SeCuRiTy”

Bad faith Republicans trying to undercut the US from inside. Klassy.

+1

Spot price of oil is UP over a dollar on the SPR news. Perhaps the criticism is fair and in good faith? There are hundreds of Twitter posts over the past two weeks from oil experts saying an SPR release is a terrible idea to control prices and it will likely contribute to higher prices in the future.

[Anonymous]

Buy low (April 2020), sell high (November 2021).

I mean, that's just common sense. Too bad we couldn't buy more when gas was under $2/gallon last year! We ran out of storage capacity.

[Anonymous]

Anonymous wrote:Spr is meant for national security purposes. It isn’t meant to be used as a political tool to quell a childish electorate.

Furthermore it won’t work — opec+ Will just compensate and reduce output and wait for the release to work through the market.

What is Biden and his team thinking? Total stupidity. It’s why oil futures are green as market knows this won’t work

It also sends a signal to the world that the us is an unserious strategic nation.

Short term measures are short term measures.

The way to really combat this is to transition to renewable power and electric buses and vehicles. The sooner, the better. Right now, high energy prices favor Russia and Saudi Arabia.

Gee, I wonder why the GOP opposes these things?

[Anonymous]

Anonymous wrote:Selfish stunt that puts long term position at risk for short term political gain. Totally Trumpian. Shame on President Biden.

This take doesn’t really align with reality. The total release is less than 10% of the SPR. About a third of what’s being released was already planned for release, they’re just moving up the release date a little. He other 2/3s are being distributed to producers via swaps that will require those producers to repay the barrels to the SPR over the next three years.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:“Why won’t Biden Do SoMeThInG, aNyThInG about gas prices, which he himself controls from the secret lair in the Dem White House only Dem presidents know about?!”

“HoW cOuLd He Do ThIs? It*Z fOr SeCuRiTy”

Bad faith Republicans trying to undercut the US from inside. Klassy.

+1

Spot price of oil is UP over a dollar on the SPR news. Perhaps the criticism is fair and in good faith? There are hundreds of Twitter posts over the past two weeks from oil experts saying an SPR release is a terrible idea to control prices and it will likely contribute to higher prices in the future.

Can you link to some of these oil experts?

[Anonymous]

It’s a fairly desperate, band aid solution. He’s trying to artificially suppress prices during the holiday travel season to prevent the continued free fall of his approval. This does not address the “root causes”, as his VP likes to repeat.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:“Why won’t Biden Do SoMeThInG, aNyThInG about gas prices, which he himself controls from the secret lair in the Dem White House only Dem presidents know about?!”

“HoW cOuLd He Do ThIs? It*Z fOr SeCuRiTy”

Bad faith Republicans trying to undercut the US from inside. Klassy.

+1

Spot price of oil is UP over a dollar on the SPR news. Perhaps the criticism is fair and in good faith? There are hundreds of Twitter posts over the past two weeks from oil experts saying an SPR release is a terrible idea to control prices and it will likely contribute to higher prices in the future.

It was priced in on all the talk It's the only arrow we have and this is the reason why it exists. Might as well use it and bring prices down during the annual winter spike. Every President does an SPR release, usually right before an election. At least this time it isn't a pure political gambit since the next election is a year away.

Prices will come down next year once the long term demand situation smoothes out.

[Anonymous]

Anonymous wrote:Wait, there is a whole 30+ page thread complaining about high gas prices.

People are going to complain about eVerYtHinG.

Firstly, enough with your idiotic upper/lower case lunacy
Secondly, people are upset because it’s a self inflicted would like so much of the administration’s buffoonery all on the name of virtue signaling. Elevating performative politics over the needs of everyday Americans is objectively dishonest and wrongheaded.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Wait, there is a whole 30+ page thread complaining about high gas prices.

People are going to complain about eVerYtHinG.

Firstly, enough with your idiotic upper/lower case lunacy
Secondly, people are upset because it’s a self inflicted would like so much of the administration’s buffoonery all on the name of virtue signaling. Elevating performative politics over the needs of everyday Americans is objectively dishonest and wrongheaded.

Lol, HYPOCRITE. When you say obviously political junk like this that seems divorced from history it reduces your credibility. Trump did it in 2019. Obama did it in 2011. Bush did it in 2005. Clinton did in 1999. Bush did it in 1991.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:“Why won’t Biden Do SoMeThInG, aNyThInG about gas prices, which he himself controls from the secret lair in the Dem White House only Dem presidents know about?!”

“HoW cOuLd He Do ThIs? It*Z fOr SeCuRiTy”

Bad faith Republicans trying to undercut the US from inside. Klassy.

+1

Spot price of oil is UP over a dollar on the SPR news. Perhaps the criticism is fair and in good faith? There are hundreds of Twitter posts over the past two weeks from oil experts saying an SPR release is a terrible idea to control prices and it will likely contribute to higher prices in the future.

Can you link to some of these oil experts?

https://twitter.com/josh_young_1/status/1463149411572269060?s=21

This Reuters article was great about a group of guys on Twitter who basically open sourced making a ton of money in the oil space by shorting oil companies. They were way ahead of the curve in 2019.

https://www.reuters.com/article/us-global-oil-twitter-idUSKCN21W0E7

[Anonymous]

Anonymous wrote:

Anonymous wrote:Spr is meant for national security purposes. It isn’t meant to be used as a political tool to quell a childish electorate.

Furthermore it won’t work — opec+ Will just compensate and reduce output and wait for the release to work through the market.

What is Biden and his team thinking? Total stupidity. It’s why oil futures are green as market knows this won’t work

It also sends a signal to the world that the us is an unserious strategic nation.

Is China also an unserious nation? They’re also participating in the coordinated release, along with the UK, Japan, South Korea and India.

THIS

[Anonymous]

One of the largest ever and one of the first non-emergency releases ever.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wait, there is a whole 30+ page thread complaining about high gas prices.

People are going to complain about eVerYtHinG.

Firstly, enough with your idiotic upper/lower case lunacy
Secondly, people are upset because it’s a self inflicted would like so much of the administration’s buffoonery all on the name of virtue signaling. Elevating performative politics over the needs of everyday Americans is objectively dishonest and wrongheaded.

Lol, HYPOCRITE. When you say obviously political junk like this that seems divorced from history it reduces your credibility. Trump did it in 2019. Obama did it in 2011. Bush did it in 2005. Clinton did in 1999. Bush did it in 1991.

And they did smaller releases tied to specific non-political emergencies. This is not like those other releases.