Biden to replenish 2.7 million barrels of oil out of the 180 million he released from the Strategic Oil Reserves at over $79/barrel.

[Nostra]

View attachment 867376

Yeah neat, huh Vermin?

Biden sold 180 million barrels of oil for a $4 billion "profit", and must spend over $14 billion to replace that same oil.

 

[1srelluc]

We sold it for $17.3B and will have to buy it back at $14.2B.. That is $3B in profit at that price.

The so-called profit is based on total .gov liabilities.....The last I looked we are way in the hole.....Where is the 17.3 Billion coming from?

 

[Mac-7]

Posts crap like this^ , Calls Joe Biden "stupid".

Biden said something very stupid for a politician to say

 

[Hollie]

It’s available in a lot of sources from the Energy Dept. I showed a statement above, here is one of many reports:

US Scores $4 Billion Windfall on Oil Reserve Sales

The U.S. has scored a $4 billion windfall on sales from the Strategic Petroleum Reserve (SPR), with emergency releases from the SPR set to end this month as the Biden administration has sought to ease the price of gasoline for consumers.

www.investopedia.com

Somehow, you failed to read the link you supplied.

"Emergency releases from the SPR are set to end this month as the Biden administration has sought to ease the price of gasoline for consumers."

What emergency was addressed? ''Easing'' gas prices before the mid terms as a vote buying scheme is not an emergency the strategic reserves were intended for.

 

[Hollie]

YOu will never get this concept through to them. They cannot wrap their heads around things like this.

Things like deficit spending are difficult topics for Dems / Socialists to understand.

 

[Nostra]

YOu will never get this concept through to them. They cannot wrap their heads around things like this.

See if you can wrap your sloped head around this, Vermin:

Biden sold 180 million barrels of oil for a $4 billion "profit", and must spend over $14 billion to replace that same oil.

 

[Crepitus]

Yeah neat, huh Vermin?

Biden sold 180 million barrels of oil for a $4 billion "profit", and must spend over $14 billion to replace that same oil.

So math really ain't your thing then. Cool.

Also:

 

[Crepitus]

See if you can wrap your sloped head around this, Vermin:

Biden sold 180 million barrels of oil for a $4 billion "profit", and must spend over $14 billion to replace that same oil.

We've aready established that you can't do simple math.

And:

 

[Father O'Blivion]

Maybe the big numbers are confusing your pea brain, so let's use small ones:

Let's say I bought a car for $100.

Then I sold it to my neighbor for $150.

Then a week later I bought it back from him for $125.

You claim I made $25 on the same care I owned a week ago.

In reality, I lost $75 because I already spent $100 on it, sold it for $150, and spent another $125 for the same care. I now have $225 invested in a car I sold for a week for $150.

Same care, and I'm out $75. You are such a moron you claim I made $25.

Dumbass.

You started with a car and your bank account is down $100 before the transaction. You ended up with a car and your account was down $75. You gained 25 dollars in your account after the transaction.

 

[22lcidw]

We've aready established that you can't do simple math.

And:

View attachment 867385

The ten commandments...thou shout not kill is actually murder. You cannot murder. You can kill for survival. You can kill authoritarians no matter who they are. Sins of the father means you can kill their families. And all that follow them or are infected. It is survival.

 

[Crepitus]

The ten commandments...thou shout not kill is actually murder. You cannot murder. You can kill for survival. You can kill authoritarians no matter who they are. Sins of the father means you can kill their families. And all that follow them or are infected. It is survival.

That's completely unrelated to the topic at hand...

 

[citygator]

So you admit in your scenario you are replacing a barrel of oil for more money per barrel than the barrel you just sold.

Your equation is off, Mr. Economist. It should be $95-$20 + $79 = $4 per barrel MORE you spent to replace an identical barrel of oil.

Man, you really are stupid.

It's also funny you think we bought all that oil originally for $20.

Holy fuck are you stupid. Give up man. Your equation is $154 and has no meaning.

 

[Nostra]

Holy fuck are you stupid. Give up man. Your equation is $154 and has no meaning.

Biden sold 180 million barrels of oil for a $4 billion "profit", and must spend over $14 billion to replace that same oil.

"Economics major" Citygator claims Tater made us money.

 

[Nostra]

We've aready established that you can't do simple math.

And:

View attachment 867385

Here's some math for ya,Vermin.

Biden sold 180 million barrels of oil for a $4 billion "profit", and must spend over $14 billion to replace that same oil.

"Economics major" Citygator claims Tater made us money.

 

[Father O'Blivion]

Here's some math for ya,Vermin.

Biden sold 180 million barrels of oil for a $4 billion "profit", and must spend over $14 billion to replace that same oil.

"Economics major" Citygator claims Tater made us money.

Yes, because he got 18B when sold the 180M barrels.

You really should sit and think about what you are trying to argue, rather than attack the opposing side as a knee jerk reaction.

 

[Nostra]

Yes, because he got 18B when sold the 180M barrels.

You really should sit and think about what you are trying to argue, rather than attack the opposing side as a knee jerk reaction.

Tater is spending $10 billion more to refill than he profited from the sale of our strategic reserves.

 

[Jim H - VA USA]

You moron. He sold it for $95. Biden is on his way to making the US $5-$10B in profit and you start a thread like it’s a slam. Nostradumbass, you are worth a laugh a day.

Notice the info from the DOE you posted talks only about the 2022 release.

That's because in November 2021, Biden sold 50M barrels when the price was $77 per barrel, but he sold oil to China for $63/bbl. [Link]

You might want to take back some of the childish personal insults you included, until Biden's dubious sales actually result in a profit.

 

[Nostra]

Notice the info from the DOE you posted talks only about the 2022 release.

That's because in November 2021, Biden sold 50M barrels when the price was $77 per barrel, but he sold oil to China for $63/bbl. [Link]

You might want to take back some of the childish personal insults you included, until Biden's dubious sales actually result in a profit.

Looks like China got the Biden discount.

10% for The Big Guy?

 

[DudleySmith]

Biden sold off more than 40% of the Strategic Petroleum Reserve last year to help lower gas prices following the Russian invasion of Ukraine. In total, the White House tapped the reserve four times last year, including when Biden ordered a record-setting 180 million barrels of oil released from the reserve.

Bad mistake and really really bad strategy. We need to leave our reserves alone and burn up everybody else's while it's cheap. And no, prices never got high here, they just look high because of crappy wages and monopoly price gouging. In adjusted dollars it's cheaper now than it was in 1970, before the oil crisis hoax.

 

[Nostra]

Yes, because he got 18B when sold the 180M barrels.

You really should sit and think about what you are trying to argue, rather than attack the opposing side as a knee jerk reaction.

I'm not "trying" to argue anything. I proved my argument using citygator numbers.

Tater sold 180 million barrels of oil and the net result is it will cost us over $10 billion more to replace it than what he "made" from the sale. Helluva price to pay for the few votes he bought with that scheme.