Biden to release 50 million barrels of oil

[Care4all]

How's that going to help this weekend in CA when PG&E cuts the power to 100K customers due to high winds. They already have brown outs every summer at peak and you want to add charging of 38M cars to an already stressed system. No recipe for disaster here, nope, go ahead. Good luck.

Sounds like they would be screwed either way! Gas pumps/Stations would likely be closed as well, without electric.....!

 

[Care4all]

How's that going to help this weekend in CA when PG&E cuts the power to 100K customers due to high winds. They already have brown outs every summer at peak and you want to add charging of 38M cars to an already stressed system. No recipe for disaster here, nope, go ahead. Good luck.

And maybe their powerlines need to be underground?

 

[justoffal]

Yet China has no nuclear carriers, and all their tactical weapons run on diesel, gasoline and jet fuel, all hydrocarbons that you can't easily get from coal. If they were planning to start a war, they wouldn't be depleting their petroleum reserves. Especially since they need to import 10 million barrels per day just to keep the country running.

If war breaks out, China would be cut off from imports, making their reduced oil reserve a strategic error.

Not war....but a massive blockade of Taiwan is coming I think... It would not be as fuel consumptive since it's there in their back yard. They still can't match our Navy....but they are gaining.
I'm sure you're correct about their reserves ... But I'm just as sure that we also underestimate them.

 

[Concerned American]

And maybe their powerlines need to be underground?

Good point, where are you going to find those electric digging machines and chain saws that Newsom just banned statewide? The world isn't some simplistic place that continues to operate when you intentionally throw wrenches into the works. The last 10 months illustrate that very well.

 

[justoffal]

No one is getting paid subsidies to stay home, not since the first week in September. Oil and gas workers make double to triple what the average unemployment with the federal subsidy payment, paid..... They want to work!

The oil shortage, causing prices to rise is because of some of the pandemic woes and shutdowns and they are working to bring oil ventures back on line, but it is mostly because Saudi Arabia cut down their production, while demand is higher than ever with the whole world, reopening from covid shutdowns, people driving back to work again, and exploring again, more than they have, the past year and a half, with the pandemic going full fledge.

I wouldn't put it past the whole oil industry, holding back on producing more in a conspiracy to make back the money they lost making, during the pandemic, when demand was low and gas, was so cheap!

Releasing 50 million barrels of our oil reserve is small potatoes, but Biden got 5 other nations around the world, to release some of their oil reserves as well....so maybe, just maybe, it will give us, some temporary, relief.

The removal of futures from the commodities cycle ( keystone) tripped the price spike whether it was simple market mechanics alone or helped by some vengeful manipulation from the petroleum industry ( IMO....yes) I think matters little to the end user. The market momentum is similar to an accident on a busy freeway. Once you create the back up it perpetuates itself without further stimuli and becomes its own causal input. Lesson here:
If you don't understand the economy keep you're fukking hands off of it.

Jo

 

[Care4all]

Good point, where are you going to find those electric digging machines and chain saws that Newsom just banned statewide? The world isn't some simplistic place that continues to operate when you intentionally throw wrenches into the works. The last 10 months illustrate that very well.

Can Newsome ban them? Wouldn't that take the California legislature? Also, that seems nuts to do, if it is being done!!!!

Maybe the infrastructure bill has money in it, to put those electric lines, underground?

 

[toobfreak]

Biden to release 50 million barrels of oil​

I almost have to ask in light of recent events and because my father taught me to never assume anything, that I trust these 50 million barrels of black crude isn't coming out of Joe's ass?

 

[Ray From Cleveland]

No one is getting paid subsidies to stay home, not since the first week in September. Oil and gas workers make double to triple what the average unemployment with the federal subsidy payment, paid..... They want to work!

The oil shortage, causing prices to rise is because of some of the pandemic woes and shutdowns and they are working to bring oil ventures back on line, but it is mostly because Saudi Arabia cut down their production, while demand is higher than ever with the whole world, reopening from covid shutdowns, people driving back to work again, and exploring again, more than they have, the past year and a half, with the pandemic going full fledge.

I wouldn't put it past the whole oil industry, holding back on producing more in a conspiracy to make back the money they lost making, during the pandemic, when demand was low and gas, was so cheap!

Oil companies cant' and do not cut production to increase prices. It doesn't work that way Furthermore you're trying to take the blame from who is really at fault here and that is Dementia. But no matter how you try to blame shift or take responsibility away, the rest of us fully understand our fuel costs are directly related to his policies.

 

[Ray From Cleveland]

There wouldn't ever be a shortage of gasoline, if everyone was driving electric vehicles!

There would be little need for gasoline or electric cars if everybody used public transportation as well. You start and the rest of us will follow.

 

[AntonToo]

For us it is a national security risk....for China it's just a bump in the road....they have a huge advantage in total hydrocarbon reserve as they continue the massive expansion of their base of coal generation. We on the other hand have shuttered a dozen gigs of generation capacity placing a much heavier strain on the remaining fuels.

Lol.... you're an easy mark.

Hint: don't take up chess for living.

Jo

Wait wait, you are actually saying our military would be in bad position to fight World War III if we use a bit of our oil reserve to temporary take the steam out of the oil market?

North America has 14% of world oil reserves, China has 2.5%.

Maybe they let you play chess in the cuckoo ward but you sure as hell haven't got a clue about reality.

 

[eagle1462010]

Can Newsome ban them? Wouldn't that take the California legislature? Also, that seems nuts to do, if it is being done!!!!

Maybe the infrastructure bill has money in it, to put those electric lines, underground?

They will be too busy laundering the money. Cost a lot to put them underground. The wire isn't cheap. Metals are high right now.

Perhaps California shouldn't have laws restricting Right of Way before in a high wind area. You know. Poor trees slapping into the power lines at 6o miles per hour type stuff. Or maybe they should have not run off the loggers to now have bug infested dead trees.

 

[eagle1462010]

Wait wait, you are actually saying our military would be in bad position to fight World War III if we use a bit of our oil reserve to temporary take the steam out of the oil market?

North America has 14% of world oil reserves, China has 2.5%.

Maybe they let you play chess in the cuckoo ward but you sure as hell haven't got a clue about reality.

A whole 50 million. Wow. A little over 2 days supply. Brandon is such a rock star.

 

[2aguy]

Trump fills the SPR and Biden empties it.

Yet another Biden failure.

They want to use up the oil.......that will eventually make it even more expensive to replace......

 

[justoffal]

Oil companies cant' and do not cut production to increase prices. It doesn't work that way Furthermore you're trying to take the blame from who is really at fault here and that is Dementia. But no matter how you try to blame shift or take responsibility away, the rest of us fully understand our fuel costs are directly related to his policies.

The Democrats are fully aware of what's happening to public opinion at the gas pump.

Jo

 

[eagle1462010]

The Democrats are fully aware of what's happening to public opinion at the gas pump.

Jo

That's why they are somewhat reversing course. This 50 million is a freaking joke.

 

[justoffal]

That's why they are somewhat reversing course. This 50 million is a freaking joke.

Reopen the keystone XL project we will lose $1 a gallon off of the price of at the pump within 6 weeks..... That potential commodities input will drive the market down in a way that no single government or group of governments could hope to do.

 

[eagle1462010]

Reopen the keys down XL project we will lose $1 a gallon off of the price of at the pump within 6 weeks.

Take some time to finish it. But it is a prime example of what the left woke side thinks about oil. They just LIE ALOT.

We need the Fracking back in MASS. And them to get the hell out of the way. Then the oil will flow.

 

[EvMetro]

It's almost Winter and people aren't driving as much. Imagine being a President who's failed so badly, that he has to do this right now.

Thank God President Trump filled those reserves while the price was cheap.

"WASHINGTON – President Joe Biden is releasing 50 million barrels of oil from the nation's emergency stockpile to lower energy costs amid a recent spike in gas prices and soaring inflation, the White House announced Tuesday.

Thirty-two million barrels will be released from the Strategic Petroleum Reserve over the next several months and will be replaced in the years ahead. Another 18 million barrels that Congress already had authorized for sale will be released in the coming months."

US to release 50M barrels from strategic oil reserve amid soaring gas prices

Righties build the shining city on a hill, and lefties dismantle it. It's all lefties are capable of doing.

 

[eagle1462010]

Righties build the shining city on a hill, and lefties dismantle it. It's all lefties are capable of doing.

They are LOCUSTS.

 

[justoffal]

Who was the POTUS when this slash in production took place?

View attachment 567526

Response to global economic shutdown....this was down to prevent a catastrophic commodities implosion.....soooo....what's your point?