Posted on 06/14/2024 4:16:04 PM PDT by frogjerk
He has a high-stakes job. War and natural disasters keep him on his toes. He is often on a plane to far-flung places, travelling to negotiate with local leaders. He has the best intelligence money can buy. And as November’s election nears, he will spend lots of time looking at lines on charts. The American president and swashbuckling oil traders, it turns out, have a lot in common.
Indeed, Joe Biden also seems to have a knack for the oil trade. Two years ago his administration initiated the largest ever sell-off from America’s Strategic Petroleum Reserve (spr), an emergency store of crude oil, to counteract price surges caused by Russia’s war in Ukraine. Back then, dwindling stocks left observers twitchy. What if there was another shock to the system? So far, however, Mr Biden has got away with the gamble. He is now refilling America’s tanks, and began a new round of bidding on May 7th. Although inflation and war have marked his presidency, domestic fuel prices have been relatively stable and American production high.
(Excerpt) Read more at economist.com ...
What? Fuel prices are indeed stable at being high since he assumed the Residency.
And, IIRC, the spr was for essential issues in an emergency. For the entire country in general, I believe its a spit in the bucket.
Jao is a master debater.
Just ask PRyno, puppeteer of Mikey Johnson.
(Joe Biden, master oil trader
The Economist)
Election year propaganda from
a known Leftist propaganda source
Joe Biden, master oil trader B
“I believe its a spit in the bucket.”
THAT was always my understanding.
2 to 3 days, max.
I notice they don’t credit the true Master Trump for filling the reserve between $40-50 a barrel.
Indeed, Joe Biden also seems to have a knack for the oil trade. “
Ugh just nauseating. The economist is another awful rat propaganda tool.
“””Joe Biden, master oil trader”””
Of course, for those ignoring the fact the Strategic Reserve is nearly empty, Biden is brilliant.
If the USA were to start refilling the SPR, prices would increase and those claiming Biden is masterful would be eating crow.
You have to understand. Magazines find Joe Biden's aviator sunglasses cool and a major turn on.
Joe is a Master Used Oil Trader
Joe is a Master Used Oil Trader
Contentious Mountain Valley Pipeline begins operation days after federal approval (natural gas in Virginia)
This is over the top even for The Leftconomist.
I agree with Biden’s reduction in the strategic oil reserve…i personally thought it was too big considering how much our domestic production has ramped up.
Let's just say this piece did not even weather the short term.
Oh well, so much for that hoped for boost to Biden campaign fell flat on its face, quickly.
Apparently the Economist is made up of economic illiterates.
Didn’t happen, Congress didn’t let him do it.
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