Anonymous wrote:

Anonymous wrote:Would be nice if we had a full SPR today.

Coming soon.

That settles it:



MAGA!

Anonymous wrote:Would be nice if we had a full SPR today.

Coming soon.

Hey, OP, where did you go? Biden's SPR strategy has broken OPEC. Another day, another win.

More reading: https://www.economist.com/finance-and-economics/2024/05/16/joe-biden-master-oil-trader

Anonymous wrote:

The fact that Joe Biden is buying oil to replenish the SPR at 3X the price Trump planned to a mere 3 years ago is a joke.

The idea of Trump planning something other than a night with a porn actress is a bit of a joke. Face it, he doesn’t plan; he throws tantrums.

You resurrected an old thread to make a snarky comment with no substance?
Yes.... Trump wanted to top off the SPR because the price of oil was so low, but the Dems blocked it.

The Trump administration’s plan to top off the Strategic Petroleum Reserve ran into a blockade Wednesday after lawmakers excluded $3 billion in funding for oil purchases from the massive stimulus package before Congress.

Senate Democrats took credit for stripping out that money from the Senate bill, unveiled Wednesday, calling it a “bailout” for the oil industry.

The administration had announced plans to buy 77 million barrels — enough to fill the reserve. The SPR has about 640 million barrels of oil and filling it up would cost about $2.3 billion, at current prices.

The Energy Department solicited offers from small and midsize producers to fill the reserve and cushion the fallout from low oil prices after the global market cratered this month, following decisions from Russia and Saudi Arabia to continue production.

https://rollcall.com/2020/03/25/oil-purchase-to-fill-strategic-reserve-dropped-from-stimulus/

The fact that Joe Biden is buying oil to replenish the SPR at 3X the price Trump planned to a mere 3 years ago is a joke.

The idea of Trump planning something other than a night with a porn actress is a bit of a joke. Face it, he doesn’t plan; he throws tantrums.

What a non issue. In 2015 congress mandated sales from the reserve, it was built up as a hedge against imports. The oil production boom that started under Obama changed the math.

What has changed in the last 15 years? The answer is the US crude oil production has increased from about 5M to 13M barrels a day.

This has reduced imports significantly, in fact the US is now a net exporter of petroleum, to the tune of 1.64M barrels a day in 2023! The reserve doesn’t serve the purpose it once did, and there is an argument that it is currently too full based on the import hedge it was designed for.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Op- the only "emergency" is that dems are about to be wiped out in the midterms.

Which is totally not an emergency. The whole thing pisses me off and I hope we don't have an actual emergency where we would need to tap an empty reserve.

It's an extreme emergency. The republicans attempted a coup not long ago and and are a threat to our democracy. If they get in power, the end begins. Use the reserve if it helps.

So we have to manipulate elections via misuse of the SPR …. in order to save democracy.

Brilliant.

Are voters fool enough to vote for election deniers? We don't want to leave our future citizens a country where differences are settled by beating the crap out of each other with flag poles instead of voting.

A state like Georgia, the Democratic half of voters will be voting for an election denier (Stacey Abrams).

Ouch.

Would be nice if we had a full SPR today.