Reply to $7/gallon gas is coming

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]MBS is ready to f’ Biden with no lube

Brent above 90 again, if Chinese don’t suffer a downturn and the us hits soft landing, Biden can’t do anything on gas prices

Biden now has two bad options - needing a recession to bring gas prices down or having to muddle thru high oil prices
[/quote]

Is this the news you are referencing?

https://www.cbsnews.com/amp/news/gas-prices-saudi-arabia-russia-extend-oil-cuts/

BTW filled up my tank for the first time in awhile a few weeks ago and was shocked at how expensive it was (western Fairfax). Food is also getting more expensive. [/quote]

Yep

Biden decided to get into the oil trader game and used spr not for truly strategic purposes but purely for political short term gains in the midterm

Now he’s eaten his seed corn and the Arabs are going to bugger him till he walks like John Wayne

From FT:

“ The pain is already plain at US petrol stations, where prices have climbed by almost a quarter this year to $3.80 a gallon. That remains below the record high of more than $5 reached last summer — but still 60 per cent above their level when Biden entered office in January 2021.”

The fuel price inflation — visible in shining lights along major roads across the country — has provided Biden’s Republican opponents with attack lines ahead of next year’s presidential election. They blame the White House for prioritising climate policy over domestic oil output.

[b]“ Biden implored shale drillers to pump more oil and then authorised record volumes of crude stored in federal emergency stockpiles to be unleashed on the market, helping to tame a sharp oil price rise.

But those levers are less effective now. The once-prolific shale sector is growing slowly these days and the Strategic Petroleum Reserve has been drawn down to its lowest level since 1983. The combination has helped to tighten oil markets as global fuel demand soars, giving Saudi Arabia more sway over prices.”[/b][/quote]

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