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What part of supply and demand do you not understand? So, we ban the export of diesel. What, are the oil companies now going to charge ten dollars a gallon because they are not part of the commodities market? I hope they are willing to drink a lot of diesel. The commodities market was not created to stabilize prices, it was created to maximize profits.Every country does that. Even when we were energy independent, we were importing fuels. Energy independent actually means we were shipping out the same as we exported. Energy dependent is when we ship out less than we import, and energy world exporter is when we ship out more than import, but it's all imported and exported.
The commodities market was formed to stabilize prices. It's the marketeers that decide on the price of fuels, not the actual producers. To leave the commodities market would mean we would be at the mercy of oil companies because then they would set the price. If they wanted to charge $10.00 a gallon for gasoline, they could. It would be a stupid move.
What part of supply and demand do you not understand? So, we ban the export of diesel. What, are the oil companies now going to charge ten dollars a gallon because they are not part of the commodities market? I hope they are willing to drink a lot of diesel. The commodities market was not created to stabilize prices, it was created to maximize profits.
Look, the commodities market is not some market that requires you to sell one product in order to purchase or sell another. We can easily stop exporting diesel, that doesn't mean no one is going to buy our soybeans. Besides, the soybeans will be cheaper because of cheaper diesel prices.Gee, I only spent a couple of years trading commodities. I should have talked to you first, huh?
The market has rules just like any market. You decide to leave, then yes, the producers can charge whatever they want. It's the market that stabilizes prices. It may not work in our favor all the time, but it sure beats the hell out of the alternative. If you don't like it, I have bad news for you, most everything you buy is in the market. All of our food is in the market: cattle, wheat, rice, soybeans. Our currency is actually in the market. Our cotton and lumber are in the market. It's all market controlled and they do so for a good reason.
So isolating America is no answer because then you would actually have what you claim the commodities market does, and that is companies maximizing profits which means we all would get screwed, especially when something interferes with the production of products such as droughts, floods, hurricanes that knock out oil oil platforms, forest fires and so on. Prices will still go up, but not by nearly as much if we only relied on ourselves. Think of it as spreading the misery around the world instead of suffering the misery exclusively ourselves.
Our strategic oil reserves are not for making profit. It's to have emergency oil in the event of a national tragedy or war. That's it.
Dementia had no intention of making any profit. His goal was to bring down prices so the Communists could have a better chance at midterms. He could care less about profit. It just worked out that way because he brought prices to their highest level in US history, and there is only one way it could have gone from there, and that was down.
How much did that oil cost when it was put in the reserve? If Quid Pro paid more than that, he took a loss, and that's NOT a profit.Joe Biden initiated a $3.7B windfall in profits by selling at the high and buying back into the reserve at a low. Now the GOP wants to stop that from ever happening again! This is how the GOP wants to "help" you. By passing legislation that will never pass to virtue signal that they hate profitable decision making by a democrat.
Republicans, who spent two days this week voting on amendments and passing the measure, have sought to blame last year's surge in gasoline prices on Biden's green energy policies, which they contend have crimped U.S. oil production, sending prices and inflation skyrocketing. Gasoline prices peaked at a record national average $5.05 per gallon in June, but declined steadily over the next three months.
Until we have an emergency need and the reserve is empty. You know, the reason it was created in the first place. It was never supposed to be a president's political toy.Selling the strategic oil doesnt raise anyone's price. It provides more oil into the market theoretically lowering costs. The government makes money and the consumer is buying gas from a company that paid less for oil due to more supply... theoretically. Regardless it doesnt hurt the consumer.
It is an emergency reserve. Sure, we can use it whenever, but the last thing we need is a dolt in the White House pumping it dry for approval points, then getting caught with our pants down and have nothing.It can be used for supply issues of any kind not just war time.
It is an emergency reserve. Sure, we can use it whenever, but the last thing we need is a dolt in the White House pumping it dry for approval points, then getting caught with our pants down and have nothing.
That's like cashing out your 401K to buy shoes you just have to have. Sure, you can do it, but boy is it stupid. And just how much of an impact did it actually have? Not much.Except that it was also to help with lowering the cost and therefore helping the American people. Well done, sorry you disapprove but not surprised either.
Moron....he hasn't bought it back, and it is now more than what it cost when we bought it the first time...so no, there is no windfall...biden, the sock puppet, at the control of the democrats, are depleting our oil reserves on purpose....
That's like cashing out your 401K to buy shoes you just have to have. Sure, you can do it, but boy is it stupid. And just how much of an impact did it actually have? Not much.
You're crediting the injection of a small amount of supply done months ago for lower prices now? That's not how it works. What we so carelessly dumped on the global market has long since been processed and sold.Being fuel prices are down considerably it's easy to say it helped quite enough.
You're forgetting that the price he's paying now is higher than the price we paid for the oil we sold.Except that they sold at it's height and are buying back at a lower price. Classic supply and demand. Way to go Joe.
Look, I know I am wasting my time, but I got three links for you.It is an emergency reserve. Sure, we can use it whenever, but the last thing we need is a dolt in the White House pumping it dry for approval points, then getting caught with our pants down and have nothing.
www.cnbc.com
That’s stupid. If I gave you a stock that I paid $5 for and you sold it for $20 and bought it again for $10 you’re richer not poorer.How much did that oil cost when it was put in the reserve? If Quid Pro paid more than that, he took a loss, and that's NOT a profit.
Look, I don't care if TRUMP! did it too, using the reserve for anything not a real emergency is a dumb idea.Look, I know I am wasting my time, but I got three links for you.
Trump authorizes release of oil from strategic petroleum reserve after Saudi attacks
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.
Trump opening up the oil reserves after terrorist attacks in the Saudi oil fields.
Crude oil imports from Saudi Arabia, by month. Note, September 2019, 458,000 barrels with a small dropoff in October.
Crude oil imports from Russia, by month. Note, 10,795,000 barrels in April 2022. THEN FUCKING NOTHING.
Now, which situation warranted a tap of the Strategic oil reserve? Not a difficult question.
Where do people get the moronic idea that someone else did it, so it is okay to do that? Really silly sixth grade logic.Look, I don't care if TRUMP! did it too, using the reserve for anything not a real emergency is a dumb idea.
You're crediting the injection of a small amount of supply done months ago for lower prices now? That's not how it works. What we so carelessly dumped on the global market has long since been processed and sold.
The price he sold for was higher than what he is paying now. Jeez this isn't that hard.You're forgetting that the price he's paying now is higher than the price we paid for the oil we sold.
LOL, I knew I was wasting my time. Trump opened up the reserve in response to a "threat" on less than half a million barrels a month. In the end, the only loss was a temporary 100,000 barrels a month, easily reflected in the numbers I posted from the EIA. Biden opened up the reserve in response to a PERMANENT LOSS of ten million barrels a month. Not a drop-off, not a threat, a PERMANENT LOSS, you hairbrained idiot.Look, I don't care if TRUMP! did it too, using the reserve for anything not a real emergency is a dumb idea.
