Posted on 09/20/2023 4:16:29 AM PDT by davikkm
The rising gas prices are causing a familiar concern for Americans as they approach the $4.00 mark once again, reminiscent of the situation in August 2022. However, a key difference is that back in August 2022, the US Strategic Petroleum Reserves (SPR) had 100 million more barrels of oil in its arsenal, providing a cushion against price spikes.
Similarly, in March 2022, gas prices had breached the $4.00 threshold, but back then, the SPR boasted an even more substantial 220 million additional barrels of oil, offering a sense of stability.
Fast forward to the present, and we’re grappling with a challenging dilemma as oil prices surge towards $100. The question on everyone’s mind is whether we should continue drawing down on the remaining reserves or allow oil prices to keep climbing.
Notably, earlier this year, oil prices briefly dipped below $70, which was the targeted level for refilling the SPR. Unfortunately, despite the drop, the reserves weren’t replenished, and now we find ourselves in a situation where oil prices are not only significantly higher but also on an upward trajectory.
This predicament raises concerns, as depleting the SPR poses a substantial risk to US national security, given its vital role as an emergency buffer against unforeseen disruptions in the global oil supply. The choices made in the coming days could have far-reaching consequences for the nation’s energy security.
Funny Yellen just the other day said this would not happen.
Our government betters are a clown show.
Rarely in the history of the USA has one person created so much economic damage, told more lies to the public than Janet Yellen, first as Federal Reserve Chairman, now Treasury Secretary.
Because she’s so good at the lies is the reason she gets placed into these jobs.
When the SPR runs out, then gas prices will really take off, the war in Ukraine combined with the Saudis sticking it to Biden by cutting production will really spike prices
Won’t be enough to help in a general election.
Dems are primarily made of two groups:
upper middle and wealthy class college educated sub/urbanites
Poor coalition of various welfare dependent minorities
A few dollars change per gallon has no effect on the first group and the 2nd group isn’t earning their keep anyway so they won’t care either.
It will hurt the middle, lower middle and working poor classes who mostly vote R anyway.
We saw this phenomenon in the midterms “red ripple” in 2022. It will have to get much worse.
$5 gas by Christmas is an election season gift to Biden from Saudi and Russia.
When we had Presidents like Trump that encouraged energy sufficiency with expanded drilling and eliminating ridiculous regulation, and good relations with the oil producers in the middle east we didn’t depend on emergency reserves to prop up everyday prices of gasoline.
“When the SPR runs out, then gas prices will really take off, the war in Ukraine combined with the Saudis sticking it to Biden by cutting production will really spike prices”
At that point China can attack Taiwan since we won’t have the fuel for our military.
Bidenskyyyyy gas mileage. Way to go to the 82 million morons who elected this SOB and his ho.
$4.50 under Obama, Trump fixes things and gas goes to under $2.00, Biden comes along and gas goes back above $4.00
Note the pattern-
The genius plan by the Biden Administration to refill the SPR will be to purchase oil at $100/barrel instead of the less than $50/barrel price the oil went into the SPR to begin with.
Their Motto is to Buy High, Sell Low losing billions in the process.
I wish it was just “near $4”. Here in Reno it is mostly over $5, even $6 at several places. Costco and Sam’s are the only two under $5.
Up here in Washington state we’ve been above $4.00 a gallon for many weeks.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.