Either Biden is very lucky or as smart as they come. His release of oil at the high and buying into the low has helped American consumers as much as any President could.. and making billions. Yes billions. God bless him.
The White House said in October it would buy back oil for the SPR when prices at or below about $67-$72 per barrel, a bit below where U.S. benchmark futures were trading on Friday at about $75.
The Energy Department said buying oil back at about current prices is "an opportunity to secure a good deal for American taxpayers by repurchasing oil at a lower price than the $96 per barrel average price it was sold for, as well as to strengthen energy security."
U.S. begins buying back oil for strategic petroleum reserve -official
The U.S. Energy Department said on Friday it will begin buying back oil for the Strategic Petroleum Reserve, or SPR, the first purchase since this year's record 180 million barrel release from the stockpile.
www.reuters.com
The White House said in October it would buy back oil for the SPR when prices at or below about $67-$72 per barrel, a bit below where U.S. benchmark futures were trading on Friday at about $75.
The Energy Department said buying oil back at about current prices is "an opportunity to secure a good deal for American taxpayers by repurchasing oil at a lower price than the $96 per barrel average price it was sold for, as well as to strengthen energy security."