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Biden released 5 million barrels out of our reserves for Europe and Asia, much of which will go to china.

Mar 11, 2020
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Washington Times LOL!
El oh el.










We can't all just spam opinion pieces ciggy.
 
There’s a difference between five million and five billion.
gettyimages-670739346_wide-e39f8d196f81f481bf9eb9ae5f2cb037ca2a7c21.jpg
 
None that I know of. The point is releasing reserves has an impact on the global market, including the US and idiots like you don't understand that.

You're stupid, and a liar and a welch.
Hahaha. You are such a baby. Take a guess on where those 5 million barrels, from the US reserve, could have gone to really help the US market.




Just another example of Biden caring more about europe/ asia than the US.
 
Does "releasing" mean they are selling it on the open market ... at market prices?

In any event, prices for oil have been high for a while and hopefully, whatever we have been selling is getting the best price. Why would anyone care who the actual buyer is?

We have a lot of oil in the Strategic Reserve ... Let's take advantage of the high prices and hit the bids. Sell every last barrel. If the buyer ultimately turns out to be "undesirable," let's price-gouge them ... or rather, allow them to price-gouge themselves.

Let's give a market order to Goldman Sachs to empty the Reserve.

.........................................

Edit:

Everyone is complaining that oil companies are not investing in new leases or in the development of new reserves. They are then linking this behavior to some sort of contrived obligation to their investors.

While this obligation exists, their behavior is more likely due to a belief that lower cost opportunities will come into focus on down the road. Their actions more than likely indicate that they expect the price of oil to come down.

... so again, let's hit the bid with our strategic reserves. Sell high.
 
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Another non-denial. I do often get tears of laughter when I see your ass being handed to you again and again.

But then I realize how stupid and dishonest you are and I stop crying.
Non denial of what you senile, old, fool? Keep trying to change the subject as slow Joe helps China more.
 
Oil refineries across the country are being retired and converted to other uses as owners balk at making costly upgrades and America’s pivot away from fossil fuels leaves their future uncertain. The downsizing comes despite painfully high gasoline prices and as demand globally ramps up amid sanctions on gasoline and diesel produced in Russia, the third-biggest petroleum refiner in the world, behind the United States and China.


Five refineries have shut down in the United States in just the past two years, reducing the nation’s refining capacity by about 5 percent and eliminating more than 1 million barrels of fuel per day from the market, leaving the remaining facilities straining to meet demand. Yet even at this lucrative moment for what’s left of the refining industry, a White House desperate to bring down gas prices is having little success persuading owners to expand operations, and more closures are imminent.

https://www.washingtonpost.com/business/2022/06/20/refineries-profit-gas-prices/
 
Oil refineries across the country are being retired and converted to other uses as owners balk at making costly upgrades and America’s pivot away from fossil fuels leaves their future uncertain. The downsizing comes despite painfully high gasoline prices and as demand globally ramps up amid sanctions on gasoline and diesel produced in Russia, the third-biggest petroleum refiner in the world, behind the United States and China.


Five refineries have shut down in the United States in just the past two years, reducing the nation’s refining capacity by about 5 percent and eliminating more than 1 million barrels of fuel per day from the market, leaving the remaining facilities straining to meet demand. Yet even at this lucrative moment for what’s left of the refining industry, a White House desperate to bring down gas prices is having little success persuading owners to expand operations, and more closures are imminent.

https://www.washingtonpost.com/business/2022/06/20/refineries-profit-gas-prices/
The preference is to reward stockholders rather than invest in increased output.
 
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GFY - I've got honesty and integrity. I have never and will never welch on a bet like you did.
I would have felt more obligated to continue to dig foe the answer if you didn't immediately piss yourself at 6 am thr next morning. At that point u realized I was dealing with a child and didn't care fwiw.
 
I would have felt more obligated to continue to dig foe the answer if you didn't immediately piss yourself at 6 am thr next morning. At that point u realized I was dealing with a child and didn't care fwiw.
You didn't because there is no data to support what you claimed. You've continually made excuses and tried to spin things but everyone on here realizes you're a liar and a welch. I'll be here to remind periodically.
 
More wingnut debunked lies, but carry on with your brainwashed delusions.
You might want to let them know they are wing nuts
 
Does "releasing" mean they are selling it on the open market ... at market prices?

In any event, prices for oil have been high for a while and hopefully, whatever we have been selling is getting the best price. Why would anyone care who the actual buyer is?

We have a lot of oil in the Strategic Reserve ... Let's take advantage of the high prices and hit the bids. Sell every last barrel. If the buyer ultimately turns out to be "undesirable," let's price-gouge them ... or rather, allow them to price-gouge themselves.

Let's give a market order to Goldman Sachs to empty the Reserve.

.........................................

Edit:

Everyone is complaining that oil companies are not investing in new leases or in the development of new reserves. They are then linking this behavior to some sort of contrived obligation to their investors.

While this obligation exists, their behavior is more likely due to a belief that lower cost opportunities will come into focus on down the road. Their actions more than likely indicate that they expect the price of oil to come down.

... so again, let's hit the bid with our strategic reserves. Sell high.

Oil will come down significantly when the recession hits.
 
Someone still doesn't understand the global oil market.
Someone still doesn't understand the nature of the US emergency reserve, transportation costs to export, energy and emissions to export, and telling US producers they don't need to produce more.
 
Someone still doesn't understand the nature of the US emergency reserve, transportation costs to export, energy and emissions to export, and telling US producers they don't need to produce more.
I'm sure he doesn't understand that either.

Who is telling US producers they don't need to produce more at this point in time?
 
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Reactions: binsfeldcyhawk2
Biden has to be the stupidest president we have ever had. That man was not bright before he lost all his marbles.
No. He followed the stupidest president we have. And that stupidest president has the stupidest followers as you prove daily.
 
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