Trump gave us $1.79 a gallon gas.
Bidung screwed up bigtime.........now Bidung has to bring down sky high gas prices to get midterm votes. Read on.
U.S. Strategic Petroleum Reserve Hits Lowest Level Since 1985 (See SHTF Graph)
Energy Central ^ | Energy in Depth
Posted on 9/1/2022, 9:05:57 AM by Hostage
The U.S. Strategic Petroleum Reserve (SPR) hit historic lows this week as President Joe Biden continues to order a record release of barrels from the emergency stockpile. The SPR now sits at around 453 million barrels – the lowest level in 37 years.
For perspective, the U.S. Energy Information Administration estimates that in 2021, the United States consumed an average of about 19.78 million barrels of petroleum per day. If oil and gas production were to halt completely, today’s SPR would have just enough supply to fuel the United States for 22 days.
I believe I read some weeks ago that Joe is not removing our reserve oil for the benefit of American drivers.
Oh no! I’ve heard that Joe has authorized most of this reserve oil be sold to China, of all places.
Knowing Uncle Joe’s ‘logic’, do you doubt this is possible?
Biden is unleashing all this evil carbon on Mother Earth.
Why aren’t liberals rioting over this?
It is back up to around $88 right now. High this year was $120 but that was a short lived peak, it traded above $100 for about two months between late May through early July then faded.
Compared to pre-pandemic, over several years it ranged from around $45-$65 which is a profitable price range for domestic suppliers. Under $30 or so it is not very profitable for US producers but is for most of OPEC. They could crush the domestic market if they wanted to, but they don't have to our policy is doing that already and making OPEC+ rich in the process.
Policy makers don't care about the economic consequences or who it hurts. They only care about the policies they want, the policies that lobbyist pay for, or the interests of whatever business their ne'er-do-well cousins and sons-in-laws work with... or the companies they want to jump to when they leave public service.
We will use those all electric vehicles and planes to fight a war.
I have a bad feeling about this!
Selling off the Strategic Reserve is of a piece with using up our advanced weaponry that takes years to replace and destroying the morale of the military and purging the effectives. Our government is preparing for war with China.
Is he still giving it to China for hunter?
Pretty much a guarantee for an across the board, democrat failure
Biden the Traitor
We have to stop saying “Biden did this or that” and figure out who exactly is calling the shots and call them out. Big Mike’s wife may be the first in line, but he’s not that smart. A lot of this smells like him and he did say it would be “fun” to have a puppet in there so he can have his third term. I’m just frustrated with all of this...
Expect gas prices to spike right after the election.
If George w Bush had tapped the Strategic Petroleum Reserve in 2008 after gas price spiked to $4.gallon following premature fiscal & monetary stimulus, including those checks that helped Pelosi buy the election while Bush implicitly said âÂÂmy pro growth tax cuts have failedâÂÂ-& Pelosi is right about growthâÂÂâÂÂâÂÂinstead of blaming $4 gas on âÂÂdemand from India & Chinaâ which was not true & nobody believed itâÂÂâÂÂ-Obama wouldnâÂÂt have won the 2008 election & we probably wouldnâÂÂt have had a recession. I was thinking today about NAFTA, which McCain said was necessary as a North American union to compete against the emerging European UnionâÂÂ-was very much about the Bush oil family finding a sneaky way to get their hands on state-owned Mexican oil