Posted on 11/23/2021 7:57:24 AM PST by ChicagoConservative27
Oil prices rose above $81 a barrel on Tuesday morning after the Biden administration announced the U.S. and other nations would release tens of millions of barrels of oil from reserves in a ploy to lower prices.
The price of Brent, the global benchmark, rose by more than two percent following the announcement that the U.S. would be releasing 50 million barrels from the Strategic Petroleum Reserves. China, India, South Korea, Japan, and Britain are also planning to release reserves, the White House said.
(Excerpt) Read more at breitbart.com ...
Video
Biden Energy Sec. Granholm On Rising Prices: ‘Working Through An Energy Transition…Off Of Oil & Gas’…
Why would the Biden cabal ever apologize or wish to reverse the policies and outcomes they plainly said they wanted? They hate fossil fuels. They have banned or made extremely difficult the extraction, transport and use of such fuels. The price rises further discourage use. Common people suffer in many ways. Of course they have made certain that while the price of jet fuel for the private jets of their elite base has risen a bit ( refunded with targeted tax credits) it remains in adequate supply and readily available to them.
Sell the rumor, buy the news.
Why would the Biden cabal ever apologize or wish to reverse the policies and outcomes they plainly said they wanted? They hate fossil fuels
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It’s not that “they” hate fossil fuels. It’s that they LOVE THE SUPPORT of those that hate fossile fuels.
Tap the SOR ? He’s nuts !!
Aside from using something that’s reserved for emergencies, going to have to refill at premium prices.
All done to reverse anything Pres. Trump did . Irrational hatred.
The man, rather his puppet masters, quite possibly have to be the dumbest collection of people on the planet.
President Trump leveled the playing field and OPEC was no longer the big kid on the block.
CornPop comes in and tilts the scales back in favor of OPEC and Russia and they start making money again with the rising price per barrel.
So, to “ease the pain” CornPop decides to dip into our reserve. Awesome. OPEC and Russia just slow production a little bit, maybe even a little more than a little bit and keep the prices higher, if not make them go higher.
Pure genius. Nothing but pure genius.
To look at it another way, what do the people in the federal government....ESPECIALLY THOSE THAT HAVE A GOVERNMENT ISSUED VEHICLE....care about the price of gas. If they have a government car, ANY and ALL expenses related to that vehicle is covered by the taxpayer. IE...if you’re an SES-type and you get a G-ride, which you’re allowed to use for “personal use” you don’t pay for anything. Nothing.
So, if gas goes to $6/gallon, not a concern of yours.
Barely 10 months in, folks. And if anyone were to be completely honest, Bill Clinton was the best the Democrats were and are able to put up, on any level. There isn’t a Democrat in Congress that could find their way out of a paper bag. And with folks like The Squad becoming gaining more momentum it will only get worse.
depleted the SPR for NOTHING!!! FJB
What does Biden think adding 2 1/2 days supply to the US crude oil market will accomplish? We use just over 20 million barrels per day.
Welcome to 2021 America: where kakistocracy and kleptocracy blend into a ‘perfect storm’ of intentional destruction of the nation.
Close all the pipelines, run the tanks dry around the world, then wait for prices to skyrocket.
It’s part of the plan.
3.70 a gallon here.
Year ago it was 1.99
Let’s go Brandon.
Relax, the man is obviously a financial genius.
This was a test to see who’s watching. Actually, he will probably open the floodgates on it in October, 2022.
Never fear …CNN is on it.
The point is to deplete Strategic reserves.
The morons running “Biden” just do not understand— this is not the 80s or 90s when you could just tap the Strategic Reserve to lower oil prices. The markets REMEMBER what the Trump era is like. Sure, the oil companies want the per-barrel price to be a little bit higher, but they know this is not normal. They want things to go back to normal, so they can drill domestically, etc. They want rid of the “Biden” junta, as do consumers, farmers, ranchers, food producers, transport businesses, and everyone else hit by high fuel prices.
Tapping the SPR is irrelevant to rising oil prices when government is doing everything in its power to suppress domestic exploration and production. We know it. The Biden people know it. The media may not know it because they are stupid, but everyone else knows it.
This is a separate track. The Biden crowd is using rising oil prices as a smokescreen to erode U.S. strategic preparedness. This is consistent with everything else they have done. If this administration were formally at war with the United States, they would not do anything differently.
50,000,000 barrels is a fart in a whirlwind compared to world demand each day. It hardly moves the needle. Even less so metered out in a niggardly pace as brandon’s gang will do.
All this action does is waste money and stir the pot. The SPR can only effectively accomplish one mission and that is to protect against an embargo. Releases from it are not sustainable and not material to the world market and even if they are it is only for a short time.
Stupid is as stupid does.
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