Chart courtesy of Zero Hedge.
Posted on 07/20/2023 7:06:24 AM PDT by SeekAndFind
I was thinking of Presidentish Joe Biden on Sunday when I was filling my Jeep’s smallish 15-gallon gas tank to the tune of $50 when it still had a couple of gallons left. Remember (because maybe he doesn’t) when Biden was emptying our Strategic Petroleum Reserve to force down gas prices in time for the midterms , promising to fill ‘er back up once prices dropped low enough?
Yeah, about that. The SPR is probably never going to be refilled, according to one expert, and maybe not even for the reason that first popped into your mind.
Let me set the stage for today’s big reveal.
The SPR was created under President Gerald Ford in 1975 following the 1973–1974 Arab oil embargo, which turned out to be just the first of that decade’s two major oil shocks. Set in massive salt caverns in Louisiana and Texas, the SPR was supposed to hold enough crude oil—714 million barrels— to help us weather any future embargo. While it was never large enough to do that for any significant time, the SPR’s very existence strengthened our geopolitical position versus some very nasty oil producers in places like Iran and Russia.
It took until about 2010—35 years!—to fill those reservoirs all the way up. It took Dementia Joe just two years to cut our reserves in half, down to levels not seen since 1983.
Chart courtesy of Zero Hedge.
All to buy his party a few more votes on Election Day. “It could take decades to put it all back,” Julianne Geiger warned at OilPrice on Tuesday. (Hat tip, Zero Hedge.) Geiger writes that “the SPR could stay half-empty forever.”
That is, if prices ever come down long enough to make refilling profitable
(Excerpt) Read more at pjmedia.com ...
Insert Charlie Sheen winning gif.
Oh just like every other day of the week
Hope
Change
Manchurian Candidate Barack Hussein Obama continues his destruction of America via his hand-puppet Joe
A meme said “my fiance wanted something small and very expensive for our anniversary, so I got her a pint of gasoline”
They’re both just obeying the orders of their puppet master Gyorgy Schwartz.
>>That is, if prices ever come down long enough to make refilling profitable
Price doesn’t enter into it, if the oil companies offer “The Big Guy” his standard 10% of the contract, Pedo Joe would be happy to refill it all using taxpayer dollars at whatever price the foreign oil companies demand.
It’s ok. The military is going electric /s
These people are just out to profit and let all the country’s problems be for some future administration.
Stolen elections have consequences.
The Biden Crime Family only cares about stealing money for The Biden Crime Family.
I’ve told ya’ll he’s not the bumbling idiot you think he is.
That is just a sham.
He’s deliberately doing these things.
It’s who he is.
It’s who he’s always been........................
Biden is the puppet - he does the bidding of others, always did, always will. That he takes a cut or a payment is secondary, a minor perk.
It has crossed my mind more than once that he is setting up his defense to avoid prison time.
and Trump wanted to top them off when oil was cheap...
“Biden was emptying our Strategic Petroleum Reserve”
bkmk
Bkmk
I suspect the caverns will collapse into themselves before being filled again. If they haven’t already done so.
There was absolutely no legitimate reason to drain our emergency oil supplies. It puts our nation’s military at risk (which was the reason for having the strategic reserves in the first place) which I suspect was the goal for the draining. All to please China, Joe Biden’s boss.
The graph is from Zerohedge. I read the articles at that site daily but can’t post them at FR because they are banned as a “conspiracy” site. They actually post good info that many times are ahead of the reporting of other media.
Probably
Don’t forget Bill Ayers put Bammy in charge of Annenberg money too
All kinds of skullduggery with that group
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