Biden Drained The SPR At $30/bbl In Order To Keep Oil Prices Low Prior To Midterms. Now Filling It Back At $96/bbl With Tax Payer Money

[Fort Fun Indiana]

Um, the premise of this thread is my own, and that article you refer to in a derogatory manner is 1) supporting my thesis and 2) includes links to official sources. Bye.

You claimed profit. My crap article didn't, so who is full of crap?

Your thesis is hot garbage. What Biden did was SOP. This is just your daily nothingburger.

 

[AntonToo]

Um, the premise of this thread is my own, and that article you refer to in a derogatory manner is 1) supporting my thesis and 2) includes links to official sources. Bye.

You claimed profit. My crap article didn't, so who is full of crap?

What did your article claim?

Do you still think it supports this comment of yours?

"Clearly, this was done to influence the election. Does not seem to have a reasonable financial justification."?

 

[Jim H - VA USA]

Oil is not 96 bucks a barrel, especially for sour crude.

SPR has not been filled either.

 

[Winston]

Profit has not been proven - would need to present value everything, and also would need to consider the costs of draining, filling, and transporting all that fuel.

He sold oil I paid for to save me 5 cents at the pump and get votes.

Damn but you are stupid as hell. Average price paid for the oil, around $30 a barrel. Sold for $96. What the fawk kind of present value discounting are you thinking is going to turn that equation upside down, and the cost of draining, filling, and transporting, get the fawk out of here. Stupid as hell.

The article clearly states that the government is not willing to buy the oil at a higher price than it was sold. I mean, "Du Huh". I mean do you morons not have two brain cells that you can rub together. If I buy a widget at thirty bucks, sell it at 95, and replenish it at 80, is that a damn bad thing? I mean what fawking ass world do you dumbshits live in. You dumbshits couldn't run a damn lemonade stand.

 

[MarathonMike]

Weird, what you said was stupid and wrong and did not reflect a word I said... then you self fellate.

Oh well, it's not like anyone else is going to affirm you.

You're welcome for the attention.

Doesn't it suck that your words don't disappear after you write them?

 

[Moonglow]

SPR has not been filled either.

It always needs replenishment. It needed it during Trump after he used it but it wasn't.

 

[Jim H - VA USA]

Damn but you are stupid as hell. Average price paid for the oil, around $30 a barrel. Sold for $96. What the fawk kind of present value discounting are you thinking is going to turn that equation upside down, and the cost of draining, filling, and transporting, get the fawk out of here. Stupid as hell.

The article clearly states that the government is not willing to buy the oil at a higher price than it was sold. I mean, "Du Huh". I mean do you morons not have two brain cells that you can rub together. If I buy a widget at thirty bucks, sell it at 95, and replenish it at 80, is that a damn bad thing? I mean what fawking ass world do you dumbshits live in. You dumbshits couldn't run a damn lemonade stand.

You have anger issues and a foul mouth. Might want to see a therapist.

 

[Harpy Eagle]

The oil Biden sold before the Midterms was purchased at an average price of $29.70 per barrel [Link]

View attachment 739226

Now willing to fill it at up to $96 per barrel with taxpayer money.

Biden Admin Quietly Raises The Price It’s Willing To Pay To Refill Oil Reserves

The Energy Department announced Friday that it would begin buying oil to refill the U.S. Strategic Petroleum Reserve (SPR) at prices below $96 per barrel.

dailycaller.com

Price at time of sale was about $85 per barrel [Link] White House says $96.

Clearly, this was done to influence the election. Does not seem to have a reasonable financial justification.

So, the oil was bought for less than 30 bucks a barrel and sold for somewhere between 85 and 95 bucks a barrel?

Seems like the country made a pretty penny off of the oil

 

[Jim H - VA USA]

So, the oil was bought for less than 30 bucks a barrel and sold for somewhere between 85 and 95 bucks a barrel?

Seems like the country made a pretty penny off of the oil

Several people have made the same point, but like you....

You have completely ignored the fact that it is going to be refilled at comparable price.

He cashed out the SPR to steal help seal the election.

 

[Flash]

The oil Biden sold before the Midterms was purchased at an average price of $29.70 per barrel [Link]

View attachment 739226

Now willing to fill it at up to $96 per barrel with taxpayer money.

Biden Admin Quietly Raises The Price It’s Willing To Pay To Refill Oil Reserves

The Energy Department announced Friday that it would begin buying oil to refill the U.S. Strategic Petroleum Reserve (SPR) at prices below $96 per barrel.

dailycaller.com

Price at time of sale was about $85 per barrel [Link] White House says $96.

Clearly, this was done to influence the election. Does not seem to have a reasonable financial justification.

Great example of the dishonesty of Potatohead and the Democrats.

Always screwing the American people.

 

[Harpy Eagle]

Several people have made the same point, but like you....

You have completely ignored the fact that it is going to be refilled at comparable price.

He cashed out the SPR to steal help seal the election.

I was/am 100% against the selling of the oil from the SPR by Biden, it is not there to impact oil prices.

It does not need to be refilled right now, we could wait till the prices drop more which they will likely do next year if we have a recession

 

[AntonToo]

Several people have made the same point, but like you....

You have completely ignored the fact that it is going to be refilled at comparable price.

Yep, you've just admitted there is no cost to tax payer and that your original point was false.

 

[Winston]

I was/am 100% against the selling of the oil from the SPR by Biden, it is not there to impact oil prices.

It does not need to be refilled right now, we could wait till the prices drop more which they will likely do next year if we have a recession

I quote the great Donald,

“Based on the attack on Saudi Arabia, which may have an impact on oil prices," Trump tweeted in September 2019, "I have authorized the release of oil from the Strategic Petroleum Reserve, if needed, in a to-be-determined amount sufficient to keep the markets well-supplied."

Trump complains about Biden tapping oil reserves for the same reason he did in 2019

Donald Trump groused about President Joe Biden tapping the strategic oil reserves, but he once did the same thing for the same reason.The current president ordered the release of 30 million barrels of oil from the government's reserves to help blunt rising gas prices, which have shot even higher...

www.rawstory.com

Did you complain then? And note, it was right before the election. Funny how that works ain't it? What is good for the goose is also fine for the gander, don't you think?

The reality is, the SPR has always been used to help control price, and it works out damn well for the taxpayers. When crude prices spike, for whatever reason, terrorist attacks on Saudi oil fields, war in Ukraine, releasing oil from the SPR can help alleviate those higher prices. That seems easy to understand, but what most people don't understand is when oil prices get too low, like in the negative, purchasing oil for the SPR helps prop up the price a bit and helps the oil producers here in the US.

To be honest, that is the only purpose for the SPR at this point. We don't need it to protect against loss of imports from OPEC. The SPR was created way back in 1975 because of the 1973 OPEC oil embargo. And in 2005 the US was importing over ten million barrels of oil per day, almost half coming from OPEC. The SPR was critical for America. But in 2021 we only imported 6.1 million barrels per day, and of that, only 800,000 came from OPEC. And every bit of that six million barrels per day was processed into finished products and exported out. We don't need the SPR, we can stop exporting finished products and become completely self sufficient.

The Strategic Petroleum Reserve Is At Its Lowest Level Since 1984

This year the Biden Administration has drawn down the Strategic Petroleum Reserve at the fastest rate in history. Here's what that means.

www.forbes.com

 

[Winston]

You have anger issues and a foul mouth. Might want to see a therapist.

Agreed, I have real problems dealing with stupid. And by the way, nice rebuttal, LOL.

 

[Jim H - VA USA]

I quote the great Donald,

“Based on the attack on Saudi Arabia, which may have an impact on oil prices," Trump tweeted in September 2019, "I have authorized the release of oil from the Strategic Petroleum Reserve, if needed, in a to-be-determined amount sufficient to keep the markets well-supplied."

Trump complains about Biden tapping oil reserves for the same reason he did in 2019

Donald Trump groused about President Joe Biden tapping the strategic oil reserves, but he once did the same thing for the same reason.The current president ordered the release of 30 million barrels of oil from the government's reserves to help blunt rising gas prices, which have shot even higher...

www.rawstory.com

Did you complain then? And note, it was right before the election. Funny how that works ain't it? What is good for the goose is also fine for the gander, don't you think?

The reality is, the SPR has always been used to help control price, and it works out damn well for the taxpayers. When crude prices spike, for whatever reason, terrorist attacks on Saudi oil fields, war in Ukraine, releasing oil from the SPR can help alleviate those higher prices. That seems easy to understand, but what most people don't understand is when oil prices get too low, like in the negative, purchasing oil for the SPR helps prop up the price a bit and helps the oil producers here in the US.

To be honest, that is the only purpose for the SPR at this point. We don't need it to protect against loss of imports from OPEC. The SPR was created way back in 1975 because of the 1973 OPEC oil embargo. And in 2005 the US was importing over ten million barrels of oil per day, almost half coming from OPEC. The SPR was critical for America. But in 2021 we only imported 6.1 million barrels per day, and of that, only 800,000 came from OPEC. And every bit of that six million barrels per day was processed into finished products and exported out. We don't need the SPR, we can stop exporting finished products and become completely self sufficient.

The Strategic Petroleum Reserve Is At Its Lowest Level Since 1984

This year the Biden Administration has drawn down the Strategic Petroleum Reserve at the fastest rate in history. Here's what that means.

www.forbes.com

Good points.

There is only data here up until September and Biden kept draining the SPR until a couple of days after the election...

U.S. Ending Stocks SPR of Crude Oil and Petroleum Products (Thousand Barrels)

www.eia.gov

Agreed, I have real problems dealing with stupid. And by the way, nice rebuttal, LOL.

I had already addressed your point and your post was irrational. Face it, you completely lost your composure over a discussion of the SPR. But that's okay, you've almost come back down to Earth. Perhaps there is hope for you yet. Maybe someday after you graduate high school, you'll cease childish insults and unnecessary prolific swearing altogether.

 

[Harpy Eagle]

I quote the great Donald,

“Based on the attack on Saudi Arabia, which may have an impact on oil prices," Trump tweeted in September 2019, "I have authorized the release of oil from the Strategic Petroleum Reserve, if needed, in a to-be-determined amount sufficient to keep the markets well-supplied."

Trump complains about Biden tapping oil reserves for the same reason he did in 2019

Donald Trump groused about President Joe Biden tapping the strategic oil reserves, but he once did the same thing for the same reason.The current president ordered the release of 30 million barrels of oil from the government's reserves to help blunt rising gas prices, which have shot even higher...

www.rawstory.com

Did you complain then? And note, it was right before the election. Funny how that works ain't it? What is good for the goose is also fine for the gander, don't you think?

Yep, I sure did

 

[Winston]

Good points.

There is only data here up until September and Biden kept draining the SPR until a couple of days after the election...

View attachment 739481

U.S. Ending Stocks SPR of Crude Oil and Petroleum Products (Thousand Barrels)

www.eia.gov

I had already addressed your point and your post was irrational. Face it, you completely lost your composure over a discussion of the SPR. But that's okay, you've almost come back down to Earth. Perhaps there is hope for you yet. Maybe someday after you graduate high school, you'll cease childish insults and unnecessary prolific swearing altogether.

All I know is that I filled my gas tank at less than $2.50 a gallon today. Pretty damn sweet if you ask me.

 

[Fort Fun Indiana]

So yet another lying thread title. Should be moved to the Rubber Room.

 

[Nostra]

The oil Biden sold before the Midterms was purchased at an average price of $29.70 per barrel [Link]

View attachment 739226

Now willing to fill it at up to $96 per barrel with taxpayer money.

Biden Admin Quietly Raises The Price It’s Willing To Pay To Refill Oil Reserves

The Energy Department announced Friday that it would begin buying oil to refill the U.S. Strategic Petroleum Reserve (SPR) at prices below $96 per barrel.

dailycaller.com

Price at time of sale was about $85 per barrel [Link] White House says $96.

Clearly, this was done to influence the election. Does not seem to have a reasonable financial justification.

Fucking moron.

And his Dimwinger minions clapped and cheered while he did it.

 

[Nostra]

So, the oil was bought for less than 30 bucks a barrel and sold for somewhere between 85 and 95 bucks a barrel?

Seems like the country made a pretty penny off of the oil

Link to it being bought at 30?