Time to Pickup The Tab For Old Scatterbrain's Energy Policy

[Here_4_a_Day]

Strong Crude, Gasoline Draw Jolts Oil Prices | OilPrice.com

WTI prices saw a small gain after the API reported a larger than expected draw in crude and gasoline stocks

oilprice.com

"On Monday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by another 800,000 barrels in the week ending August 28, with the SPR inventory still sitting at a near 40-year low of 350.3 million barrels. The amount being funneled into the SPR is a small portion of the hundreds of millions of barrels that were sold off out of the SPR over the last couple of years."

Maybe we just run that bitch ^ right down to empty, huh?!

Will this too be due to, "Putin's Price Hike?" 🤣 🤡🤣

 

[Finance85]

We always have to pay the piper at some point. There's no discussion of Trump wanting to replenish the SPR at a much lower price per barrel during his term.

Then we go back to all the deficit spending during the Obama years. It was a big deal at the time because Fed interest rates were near zero. Some people warned what would happen to the cost of debt service when interest rates rose, but that was happily dismissed and ignored by those supporting big spending.

 

[Here_4_a_Day]

We always have to pay the piper at some point. There's no discussion of Trump wanting to replenish the SPR at a much lower price per barrel during his term.

Then we go back to all the deficit spending during the Obama years. It was a big deal at the time because Fed interest rates were near zero. Some people warned what would happen to the cost of debt service when interest rates rose, but that was happily dismissed and ignored by those supporting big spending.

Why/what/how would he do that when Old Scatterbrain is the one who drained it for political gain?

"Last year, the Biden administration released a record quantity of reserves from the SPR in an attempt to counteract a surge in oil prices in the first half of the year, shortly after Russia invaded Ukraine. SPR inventories shrank from 594 million barrels at the end of 2021 to just 372 million barrels by the end of last year."

Read this article > https://www.msn.com/en-us/money/oth...fluence-over-oil-prices-is-waning/ar-AA1gi9sg then wrap it anyway you like...it's just another biden shit sandwich!

 

[Finance85]

Why/what/how would he do that when Old Scatterbrain is the one who drained it for political gain?

"Last year, the Biden administration released a record quantity of reserves from the SPR in an attempt to counteract a surge in oil prices in the first half of the year, shortly after Russia invaded Ukraine. SPR inventories shrank from 594 million barrels at the end of 2021 to just 372 million barrels by the end of last year."

Read this article > https://www.msn.com/en-us/money/oth...fluence-over-oil-prices-is-waning/ar-AA1gi9sg then wrap it anyway you like...it's just another biden shit sandwich!

You make good points, other than calling Biden 'Old Scatterbrain'. He can't help that he's ill.

 

[Huey Grey]

You make good points, other than calling Biden 'Old Scatterbrain'. He can't help that he's ill.

Why would a libertarian be in support of massive government oil reserves? Shouldn't this be a free market issue?

 

[Finance85]

Why would a libertarian be in support of massive government oil reserves? Shouldn't this be a free market issue?

Jeesh, you just can't help yourself. I'm old enough to remember the oil embargo in the 1970's, which is how this started. I'm all for the government having a reserve for emergencies, such as a hurricane knocking out refineries in LA & TX. That's not going against the Libertarian principles I explained to you. There are legitimate government functions.

Reserves should only be used for emergencies, not because of policy changes that affect oil production.

Reserves that are drawn should be replenished as cheaply as possible. Trump wanted to replenish reserves at $55 per barrel. Biden is doing it at $80 per barrel.

 

[Huey Grey]

Jeesh, you just can't help yourself. I'm old enough to remember the oil embargo in the 1970's, which is how this started. I'm all for the government having a reserve for emergencies, such as a hurricane knocking out refineries in LA & TX. That's not going against the Libertarian principles I explained to you. There are legitimate government functions.

Reserves should only be used for emergencies, not because of policy changes that affect oil production.

Reserves that are drawn should be replenished as cheaply as possible. Trump wanted to replenish reserves at $55 per barrel. Biden is doing it at $80 per barrel.

So you're all for government oil, government banning of trans people, using government roads, government military, government police and fire, government subsidizing of agriculture, government communication, government data for stuff like weather, government tech like DARPA. This is why I say libertarians are fake. You love government. You just want to pretend you're a free thinking bootstrapped who can do it all yourselves.

 

[Here_4_a_Day]

Why would a libertarian be in support of massive government oil reserves? Shouldn't this be a free market issue?

The S in SPR, stands for "Strategic." The SPR; unlike you, was never meant to be a tool of the Gov used at their whim. It was meant to be a fallback reserve in the event of a war/conflict that reduced our access to petroleum.

 

[Here_4_a_Day]

You make good points, other than calling Biden 'Old Scatterbrain'. He can't help that he's ill.

Because I didn't vote for the silly, ill, SOB. He and his puppeteers knew he was ill when he ran, but they propped him up because they knew idiots would delude themselves into thinking he wasn't ill and vote for him. Reap it....

 

[Huey Grey]

The S in SPR, stands for "Strategic." The SPR; unlike you, was never meant to be a tool of the Gov used at their whim. It was meant to be a fallback reserve in the event of a war/conflict that reduced our access to petroleum.

The Russian war against Ukraine is a war/conflict that has reduced supply to oil, Einstein.

 

[Here_4_a_Day]

Jeesh, you just can't help yourself. I'm old enough to remember the oil embargo in the 1970's, which is how this started. I'm all for the government having a reserve for emergencies, such as a hurricane knocking out refineries in LA & TX. That's not going against the Libertarian principles I explained to you. There are legitimate government functions.

Reserves should only be used for emergencies, not because of policy changes that affect oil production.

Reserves that are drawn should be replenished as cheaply as possible. Trump wanted to replenish reserves at $55 per barrel. Biden is doing it at $80 per barrel.

Ummmm...WTI is approaching $90...Brent is already there. Who in their right mind ever thought crude was going to $55 when he had to drain the SPR to hit $70 all the while making US production more difficult/expensive and pissing off OPEC into production cuts? That's "leadership, baby!

 

[Huey Grey]

Btw, Finance, oil reserves also dropped under Trump. Why is it ok for the Rs to use it but not the Dems?

 

[Here_4_a_Day]

The Russian war against Ukraine is a war/conflict that has reduced supply to oil, Einstein.

Still buying the old, "Putin's Price Hike at the Pump," lie, huh? lol Trump had us well on the way to never having to buy another drop of oil from anyone and along comes Scatterbrain who blows it all up.

 

[Here_4_a_Day]

Btw, Finance, oil reserves also dropped under Trump. Why is it ok for the Rs to use it but not the Dems?

What part of this can you not wrap your one track, perverted mind around:

"Last year, the Biden administration released a record quantity of reserves from the SPR in an attempt to counteract a surge in oil prices in the first half of the year, shortly after Russia invaded Ukraine. SPR inventories shrank from 594 million barrels at the end of 2021 to just 372 million barrels by the end of last year."
Again, no war on US oil would have been the answer....

 

[Finance85]

So you're all for government oil, government banning of trans people, using government roads, government military, government police and fire, government subsidizing of agriculture, government communication, government data for stuff like weather, government tech like DARPA. This is why I say libertarians are fake. You love government. You just want to pretend you're a free thinking bootstrapped who can do it all yourselves.

No, I'm not. Your projections are absurd.

What brand of tequila are you drinking this morning? I'd like to try it.