Posted on 10/08/2022 11:03:22 AM PDT by rktman
On Friday’s broadcast of MSNBC’s “Andrea Mitchell Reports,” Deputy Treasury Secretary Wally Adeyemo said that the Biden administration thinks gas prices “should continue coming down,” and there have been “historic spreads between the cost of crude oil and the cost that’s being paid at the pump. So, we’re calling on those who own those gas stations to bring down the price.”
Host Andrea Mitchell asked, “Bottom line, can you do anything to bring down gas prices between now and the election a month from now?”
Adeyemo responded, “So, Andrea, we think that gas prices should continue coming down, because we’ve seen historic spreads between the cost of crude oil and the cost that’s being paid at the pump. So, we’re calling on those who own those gas stations to bring down the price. But in addition to that, we’ve already seen that, over the course of this last month, we’ve seen a release of the SPR that has helped to keep prices lower than they were at their highs this summer. And we’re committed to taking every other action that we can to try and bring down prices over the course of the next few days, the next few months, and over the course of the next years because we know how important this is to the American people.”
(Excerpt) Read more at breitbart.com ...
She said that this Friday? After OPEC announced a 2 billion barrel cut in production? That means that she is purposely lying.
She also admits that President Biden is using the strategic oil reserve to lower gasoline prices. My god. There are only 25 days worth of gasoline left in the reserve. Biden just released $10 million barrels from the reserve, which only offsets 5 days of the OPEC costs.
Given 30 days to the midterm elections, that means 30/5 equals 60 million more barrels that they will have to release from the strategic reserve, just to hold prices. They would need to release more to bring prices down. Insanity!
I quote John Lennon, “I don’t believe in Beatles, I just believe in me.”
I heard yesterday there’s 22 days of oil left in the SPR.
Oh, that is a relief, that should take us through the election. Had me worried for a minute./S Great timing!
That should be enough time to empty Red Hill Bulk fuel in HI of all the fuel in the Pacific fleet reserve.
We have no need of all that pesky reserve fuel/oil, and besides, it can be shipped to California and bring fuel costs down in California for a few weeks.
I am sure we have plenty of other fuel reserves.
https://health.hawaii.gov/about/files/2022/10/01_Unpack-CONOP-Rev-14-26-September-2022_Redacted.pdf
Wally Adeyemo Is a Nigerian male, so obviously an expect in retail petroleum products pricing.
You can make money by helping him get his Nigerian inheritance out of Nigeria!
It is kind of scary how many people in Brandon’s Treasury Department have no understanding of even basic economics.
Its also kind of scary that they tell the amount of reserve oil we have and when we shut down massive fuel reserves.
My Ethanol Free 90oct Premium has gone up from $5.16 to $5.29/gal, since Friday. It’s now $132.25 to fill up the 2019 Jeep Grand Cherokee HEMI V8’s 25gal tank.
It is what it is, for the next 2+ years of Bidet&Co’s socialism/communism, and maybe beyond.
Mr. mm does engineering consultant work and keeps tabs on the prices of various fuels.
He said that propane has not risen as much as anything else and has no clue why, but is not complaining.
We have a propane tank to fill before winter. Our driveway is not big truck friendly when it gets snowy and icy.
Did he wave his magic wand and sprinkle fairy dust when he commanded this to happen?
Yup. $105 to fill my Ram and it still had a quarter tank! 😡👎
That’s good to know. Our propane service prefers that we get down near 20% before they come out, and we’re still close to 40%, so it might be Thanksgiving before we fill for this winter. Haven’t started to heat the house yet, and cooking/heating water/drying clothes only uses so much.
NICE TRY
Yep, you can bet they are planning something. I like how Fauci said yesterday a more dangerous Covid is coming back. Oh! What a surprise!
If I were operating a business and the government had said they were going to shutdown my business in the near future- but wanted me to lower my prices?
Except opening new drilling and to stop interfering with oil companies.
When the politicians in charge have absolutely no business experience or common sense- what can you expect?
Of course Biden’s energy policies or his bungling the situation with OPEC couldn’t have anything to do with it at all. It can only be the retailers at the end of the chain who are insidiously making a few cents a gallon if they are lucky
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