Reply to $7/gallon gas is coming

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP’s $7 a gallon is clear not materializing and Biden is refilling the reserves at a far better price.

It’s like going back and highlighting posts of people who were certain that the Republicans would dominate in the midterms. It’s just a lot of fun. Smart people would at some point examine their beliefs and why they hold them; Republicans put their heads in the Fox sands. [/quote]

And the reserves need to be used and refilled. Gasoline deteriorates over time.

This looks like it all worked out. [/quote]

The SPR consists of crude oil, not refined products.[/quote]

Buy low, sell high

The US made $4 billion selling oil this year on President Biden's unprecedented releases from the Strategic Petroleum Reserve
https://markets.businessinsider.com/news/commodities/us-crude-oil-profit-strategic-petroleum-reserve-releases-crude-joe-biden-2022-12

[i]The US government has pocketed a roughly $4 billion windfall from sales of crude this year out of the Strategic Petroleum Reserve.

In the week ending December 9, the US released about 4.7 million barrels of crude, and the Energy Department has said it will conclude deliveries this month.

Since President Joe Biden tapped into the reserves in March — just after Russia's invasion of Ukraine — the US has sold 180 million barrels of crude at an average price of $96.25 per barrel, per The Wall Street Journal.

... A senior administration official told the Journal that the Energy Department has the latitude to wait for lower market prices before it begins buying up oil to refill the SPR. 
[/i][/quote]

Trump wanted to fill at $20 a barrel but Democrats rejected it, calling it a bailout of big oil.  Now they are bragging about buying at $70 and turning a profit.  They haven't actually turned the profit yet because they didn't do the purchase half.[/quote]

Yes they did. Why do you continue to perpetuate lies?[/quote]

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