Biden Drains the Strategic Petroleum Reserve
https://www.rpc.senate.gov/policy-papers/biden-drains-the-strategic-petroleum-reserve
Posted on 10/03/2024 9:22:37 AM PDT by McGruff
President Biden said Thursday that the US is “discussing” the possibility of Israel bombing Iranian oil facilities as payback for a volley of nearly 200 rockets fired at the Jewish state on Tuesday — causing a spike in global crude prices.
Biden said the oil strike option was under consideration when asked directly by a reporter as he left the White House.
“We’re discussing that. I think that would be a little… anyway,” the retiring 81-year-old president said ...
Within 45 minutes of Biden’s remark, crude oil futures spiked to about $74 per barrel from its opening price of $70.10, before settling back to around $73.
(Excerpt) Read more at nypost.com ...
It shouldn’t ... Nobody buys Iranian oil... Except Russia and China. Europe and North America’s supply shouldn’t be affected by Israel’s coming air strikes.
After the 10am tapioca but before that 4pm puddin’.
The supplies in the West wouldn't be directly affected... but the price of the oil on the markets would. It's a global commodity and supply & demand still function. If you limit supply in the marketplace--even if it's going to specific customers--you will drive prices higher globally.
https://www.rpc.senate.gov/policy-papers/biden-drains-the-strategic-petroleum-reserve
but the Biden Admin will make sure the price goes up everywhere
Today's big picture
I agree with him. It's nice to know we have a statesman of his caliber in charge of the situation. [/s]
Biden needs to be muzzled.
So it is ok to lob missiles, don’t react?…oil prices might go up…FO…Biden administration hates oil anyway 🤬🇺🇸🤬
I talked about it HERE, yesterday.
Maybe I caused the spike.
When is somebody going to take Joe Pedo back to the Old Politicians Home?
It’s October!
Surprise!!!
Woohoo!! October Surprise!!!
Not true. This is Biden’s latest stupid idea, but consistent with his Green New Deal. Bombing their oil fields takes their output off the market. China and Russia won’t stop buying oil, they will just have to find new sellers because global supplies are now less. The end result will be higher prices for oil, including in the US. Biden will be happy as this fits in with the Green New Deal objectives. Please, someone given him a cup of pudding and send him to bed where he can do no harm.
Meanwhile, a more appropriate response would be to take out Iran’s bomb development buildings and all of their missiles and launch facilities.
Blowing up Iran oil.....
God these people are stupid. First, it will spiral the world economy out of control when it’s already doing poorly. Second, it will be an environmental catastrophe. Third, they will just ship Russian Oil, calling it Iranian oil, without the sanctions. Fourth, it’s just continuation of a never ending conflict.
I got a better idea. Tell the Israeli’s, the Saudi’s, the UAE, and all the other Arab nations, that Iran is a problem to EVERYONE’s regional security. Send a clear message that unless they stop attacking shipping and the Israeli’s with their proxy ‘armies’ everyone is coming for them.
I have to think everyone is getting tired of the Iranian mullahs......
Biden, Harris and Democrats are appeasers.
I hope to God that Israel did NOT tell Biden and Harris their plans..Biden and Harris’s #1 goal is to ensure the pro hamas vote, they dont care about Israel they never did..so if this info is true, Israel must be SO pissed that Biden spilled the beans like the dementia riddled moron he is
Yup. Oil is famously “fungible”. It doesn’t really matter where it comes from. It just matters how much supply there is in the marketplace. If supply goes down, prices go up for everybody.
and Schumer took Trump to task for replenishing with cheap oil. If you’re a person considering voting for Kamala, you’re an idiot.
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