Biden increases sales from the Stategic Petroleum Reserve before the November election

Politics
1

Energy Department and White House jointly announced that President Joe Biden had authorized the sale of a further 20 million barrels from the Strategic Petroleum Reserve by October, adding to the already scheduled release of 180 million barrels from the reserve.
Crude Tumbles as U.S. to Sell More Reserve Amid Worsening Economic Stats By Investing.com

The SPR is already at the lowest level since 1985, and the level is dropping rapidly.

image
image1286×440 13 KB

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCSSTUS1&f=W

What happens to oil and gasoline prices when the withdrawals end after the election?

1 Like
2

What’s the plan to replenish the Strategic Oil Reserve?

3

Plan? The plan appears to suck it dry and never replenish it.

Democrats killed Trump’s attempt to buy oil when prices crashed in 2020.

1 Like
4

The Dims are really smart. :roll_eyes: Just ask them.

5
4 Likes
6

The strategy from the White House appears to be doing everything to minimize pain from the sanctions war until after the election.

It is also (politically) vital that Ukraine stay in the war until after the election. The probability of a Ukrainian victory may be incredibly remote, and the Ukrainian casualties may be horrific, but a negotiated settlement on Russian terms is not an option. The political fallout could be a severe blow Democrat hopes for the election.

Of course, Putin may have his own ideas about an October surprise. A Russian offensive and Afghanistan-style collapse could be a result.

7

AOC has college degree you know.

8

Who says they have a plan to replenish it?

Even if they did, I’m sure it includes buy high.

9

Yes, we’ve been force fed that rid bit ad nauseum
Then there’s this:

10

It looks like there is no Biden energy plan past November.

11

image
image718×446 32.1 KB

1 Like
12

Right-wingers: Joe Biden needs to do something about high gas prices!!1!

Joe Biden: I have authorized the sale of more oil from the SPR

< gas prices drop >

Right-wingers: No, we didn’t mean do that!!1!

1 Like
13

What happens when the SPR is sucked dry?

14

What happens if we get involved in a war which our Stategic Oil Reserve is meant to deal with?

15

We refill it?

16

With Russian oil?

1 Like
17

A lot of money has been wasted on useless ■■■■■■■ degrees:

18

Wouldn’t’ that be funny!

19

Fishy might be more accurate considering the following:

1 Like
20

More US oil production?

1 Like