Oil is now $82/barrel
Last month it was under $70.
That is a pretty steep jump in one month.
Is it Putin this time or the Pandemic?
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Except for the Joe Biden’s first year, and Joe Biden’s second year
we have not seen prices this high (his 3rd year) since 2015 (Obama’s 3rd year)
I don’t think we can reasonably blame corporate greed.
Do they get greedy when Obama and Biden are president but not when Trump is president?
Nope. Not corporate greed. Something else is at play here.
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Let’s go Brandon!!
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Wait!! Maybe oil prices are up because we have started refilling the Strategic Petroleum Reserve, (or at least stopped draining it.)
Hmm.
Nope that’s not it either.
-
Jan 2021 (Joe Biden takes office)
SPR = 638m barrels -
Jan 2022
SPR = 589m barrels (7.6% drop) -
Jan 2023
SPR = 372m barrels (36% drop during an election year) -
June 2023
SPR = 349m barrels (still dropping) -
July 2023
SPR = 346m barrels (still dropping)
SOURCE: https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCSSTUS1&f=W
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We have seen the spike here in retail price jumping from 3.49 to 3.89 per gallon of reg gas.
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Et tu CNN
Even fake news noticed.
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It’s been $3.95 here for weeks.
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Every time a dem is in office, gas prices get higher than me.
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Hmm
Oct Last Year, WSJ
.
Dec Last Year, CNN
.
May of this year, The Hill
.
.
.
.
.
And then, 2 weeks ago, via CNN
Very Interesting.
Sources:
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Nice. Elect Biden or your oil bank stays empty.
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Of course, elect Trump, and they’ll get filled again.
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At a good price too!
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I have noticed that in this thread as well as the other thread there has been no mention of The OPEC production reduction: a million barrels a day. Surely that has something to do?
You mean like when I mentioned it here?
I was not trying to be dishonest.
Oil hit $90/barrel
I searched up my oil-related threads and added the news to whichever one was at the top of the results page.
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Oh, I was not trying to say that you were being dishonest. But that wasn’t the other thread I was referring to.
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hat tip
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Make no mistake while they don’t want high gas prices to hurt their chances in the election, they have np with the prices going higher it’s all part of the green initiative.
Maybe Biden will try to get the strategic reserves up again and release them during the presidential races like he did during the midterms. I mean that’s what reserves are for right.
