Nothing needs to be done. Higher prices will ramp up US production. Fracking boomed in a high priced market.
Gas prices are really affecting people, he better do something or bye bye mid-terms.
Sheesh. And who’s gonna refine it? Last I checked, refinery capacity is close to maxxed out. Oil ain’t the problem. Refining capacity is.
ridiculous
stupid idea
Apart from the lack of refinery capacity (which is the real cause of the price spike; the world is awash in oil), the SPR is 1) too small to make that much of an impact on the market, and 2) mostly heavy crude, which is even more expensive and difficult to refine. It’s a last-resort source of petroleum in the face of a major disruption, and aimed at supporting the military where cost is no object and the end-user needs large quantities of bunker oil. Trying to drive down consumer gas prices using the SPR just might end up being counterproductive.
Oil we got, but the boatloads.
MORE Refining capacity is needed..............
The more oil released, the less for our military forces. The less oil for military equipment, the more likely a nuke exchange...or several. Take your pick.
Why is there a capacity problem? It seems to have been ongoing. Are any new refineries coming on line? What has happened to our refinery capacity in recent years?
Its not a supply and demand problem. It IS oil trader market speculation and manipulation. The only way to deal with dirtbag traders is too flood the market with oil. And threaten to stop exporting oil overseas.
Remember it was the vile murkowski, among others, that said exporting American oil would reduce prices. But as usual the swamp scumbags were lying because the cost to Americans has gone up ever since we started exporting oil.
Remember when meat, hardware, lumber, metal items, and chemicals like solvents, paint were all reasonably priced? Ever since we started shipping this stuff overseas in fair trade the supply at home becomes tight and the dirtbags make them high priced. The only people helped by overseas trade is stock market traders, big manufacturers of multinational corps, owners of export operations and farmers who sell our food to foreigners.
Free trade in my humble opinion never helps the vast majority of americans. It only raises the costs of everything for us that we need but reduces the cost of cheaply made chinese electronics and Chinese junk.
The gop establishment, the vile Chamber of commerce and the Koch bros are the ones who keep selling american workers out.
No!
If the ‘evil’ speculators pushed prices above what is justified by the fundamentals, the short sellers will show up and world prices will reflect reality once again. On the other hand, maybe higher prices are justified.
If true, this is dangerous thinking, akin to centralized planning - it never ends well.
Let the markets trade - hands off!
Not a good idea.
The strategic oil reserves are to be used in a time of national emergency which really means war.
Trump did what he was supposed to do, he “talked convincingly” to the Saudis and they agreed to increase production.
Oddly oil is priced just right today. At today’s prices our fracking industry is healthy. The Saudis tried to kill our fracking a few years back and failed. They flooded the world market with cheap oil. They failed. Our fracking got leaner and meaner and more efficient. In about 3 or 4 years we will be a net exporting nation of petroleum.
The strategic reserve must stay in the ground. Its real purpose is for our military if every thing goes to hell. I do not want my military assets sitting motionless because they have no fuel.
No.
That was easy.
5.56mm
Stupid and not necessary.
It will correct soon enough.
Sounds like someone has too !any short positions.
Nah - Trump asked Saudi to up its production to make up for other declines...if it increases much more, other production venues will kick back in.
gas prices near me were higher few months ago and have come down 30 or so cents a gallon.