Shortest analysis ever needed: NOTHING!
Popcorn fart.
Not much.
A few cents for a few days.
It’s a meaningless gesture that will give the media something that they can gush over.
Prices may even go higher.
This blip is less than 3 days supply and is meaningless to gas prices.
so are the democrats in the Oil business now and investigate themselves ? LOL
15 dollars a barrel is not nothing.
It’s always been my understanding that the oil in the SPR is high sulphur sour crude, that is difficult for US based refiners to process. It really is a last resort supply, by design. We might even need to send it to Venezuela of all places to process it, because our refineries are already at capacity. Can anyone shed any light on these points? I may be wrong on all.
https://www.whitehouse.gov/live/
1:30 PM ET
President Biden Delivers Remarks on Lowering Gas Prices
President Biden Delivers Remarks on his Administration’s Actions to Reduce the Impact of Putin’s Price Hike on Energy Prices and Lower Gas Prices at the Pump for American Families. (NO MEDIA QUESTIONS UNLESS YOU SUBMIT IN WRITING AND WE PREPARE A CARD FOR BRANDON TO READ)
The White House
3:00 PM ET
Press Briefing with Director of Communications Kate Bedingfield (WHERE IS PSAKI - IT’S OVER A WEEK SINCE HER 2ND BOUT WITH COVID?)
The White House
And remember folks, this is oil we’ve already bought as taxpayers.
Now that it’s being wasted on the open market, we’re buying it again!
It means taxpayers foot the bill AGAIN when it comes time to replace that oil (at a higher cost) Biden is using as a political stunt
Biden is using it as his personal gas station.
NOT what it’s purpose is. This is dumb, of course.
IT IS CALLED THE STRATEGIC RESERVE FOR A REASON!!!!!!
Rresident Biden releasing oil from reserves
Building back better huh Moe
NAFT! Yes, these asscowns know what they’re doing. None of this has an effect on them so shut up and eat your cake.
Yes, let’s use our RESERVES to drop the price a few pennies at the pump, and make everybody “feel” good.
All the while we have China, Russia and Iran breathing down our back and just itching to start a war with us.
Another demonstration that we have no one in high places with a brain.
It is called the strategic oil reserve....what is that supposed to mean?
Oil held in reserve for STRATEGIC use, not for political use, not for market manipulating, but for use in time of war when national defense needs exceed the production capacity of the oil fields.
So here we are with the Russians directly threatening us, a mental case for president who likely will get us in war, a government by executive order that has severely damaged the ability of the industry to produce enough crude...and we are going to dump our strategic reserve on the market for a few days price fluctuation?
We are being threatened by China and Russia, who think long term and our president and his band of idiots think only in terms of tonight’s TV news headline.
Biden should thank President Trump for replenishing the reserve with low price fuel. Under President Trump the reserve was finally filled to capacity.
Current inventory - roughly 570 million barrels.
https://www.spr.doe.gov/dir/dir.html
Releasing a million barrels a day for six months is roughly 180 million barrels.
These wankers are planning to deplete one-third of the existing inventory in a plan to make people forget what a horrible job they’re doing in running the country.