Joe Biden is the most stupid president ever to exist, anywhere.
Biden releases US Strategic Petroleum Reserves…to China
Published
Tidewater News and Opinion Forum
A place for civil discussion of the events of the day for Tidewater residents without the limitations imposed by media forums.
Tidewater News and Opinion Forum 
Those reserves are meant to sustain the country in the event of a global supply emergency.
Biden’s low poll numbers leading up to the mid-terms do not qualify as a national emergency.
If, in the face of what has happened they were not low, that would be an emergency as we would be in the grips pf a pandemic of stupid pox.
LikeLike
Biden is awful, you’ll get no argument from me there.
So let’s assume it’s Trump or DeSantis in the White House in 2024. What would a republican administration do differently? Obviously every inch of productive land will be opened for drilling, but is that enough to bring down prices if Russia is still being treated as a pariah? I know we’ve all seen the same charts saying a barrel of oil is cheaper than the all time high in 2008, yet gas prices are now at an all time high. Is this not just the free market you guys love so much doing it’s thing? What right does a US president have to interfere in free global markets? Isn’t it better to simply leave these things alone and let the infinite wisdom of the invisible hand make it difficult to drive and everything more expensive?
LikeLiked by 1 person
RE: “Is this not just the free market you guys love so much doing it’s thing?”
Yes. However, it is a mistake to think of the barrel price of oil as diretly connected to the gas pump price. There are many middlemen between the well and the gas station.
It is immensely stupid to be selling stock out of the SPR for all the same reasons gas pump prices are so high. Economically, draining the reserve is like eating your seed stock before it can be planted.
The current administration has an aggressive anti-petroleum energy policy that will takes years to fully implement. This is probably the biggest single factor causing high gas prices today.
LikeLike
The “anti-petroleum” policy will “take years to implement”, but is also the “biggest single factor causing high gas prices?”
Not one of the largest producers being sanctioned by most of the world? It’s senile Joe Biden pushing the gas prices button? You guys love to wax poetic about the beautiful intricacies of world markets but when gas gets expensive while a democrat is in office, suddenly one man controls the entire global petro-economy. Do you see why we have a hard time taking your ideology seriously?
LikeLiked by 1 person
RE: “Do you see why we have a hard time taking your ideology seriously?”
Yes, I do. It is because you make bad assumptions.
For example:
You assume “one of the largest producers [is] being sanctioned by most of the world?” But this is false. The largest oil producer in the world, Russia, is being sanctioned by only a small fraction of the world, about 1/10 by population.
You assume that I believe “Joe Biden [is] pushing the gas prices button.” But this is false. I wrote that, “The current administration has an aggressive anti-petroleum energy policy that will takes years to fully implement.”
You assume I commited a logical error in linking long-term public policy to current pricing. But this is false, because there is no logical error. Businesses make long term investments to be ready to serve future markets. If they expect those future markets will not exist, it becomes reasonable for them keep today’s profits in the bank and defer both short- and long-term expenses.
LikeLike
Boy, talk about logical errors. Let’s look at just the US. We are 4% of the world’s population, but account for 20% of global petroleum use. That’s a significant disruption, would you agree?
No real point in addressing the other items because, again, you are doing the thing you do where you make a somewhat vague statement, then when you get pushback, defend yourself by saying “I didn’t specifically say that.”
LikeLiked by 1 person
Dr. Semantics is in da hizzy!
LikeLike
A bad take on the idea that oil is a GLOABL COMMODITY and that the reserves were released to be sold on the GLOBAL Market.
The opinion piece also stated that the XL Pipeline would provide us with all of the energy we need. That is a lie on several levels. 1) The pipeline was still well over two years from completion. 2) The oil pumped through it would go to the GLOBAL market, just like all of it does. 3) Oil leases have been opened back up , but companies don’t want to invest in them because of the massive profits they re making today.
The entire piece is just another attack because AT’s candidate was impeached twice and lost the popular vote the same number of times.
Bunch of whinny bitches.
LikeLike
RE: “A bad take on the idea that oil is a GLOABL COMMODITY and that the reserves were released to be sold on the GLOBAL Market.”
That oil is sold on global markets is irrelevant to this story. The SPR is a national asset. It is meant to remain in storage until the U.S. needs it, no one else.
LikeLike
“That oil is sold on global markets is irrelevant to this story.”
Horse Hockey!!! It is how it works. And when the market works against YOUR interests, you fingerprint. Increasing the supply available in the market is supposed to bring down the pricing IAW the rules set by the market.
LikeLike
RE: “Increasing the supply available in the market is supposed to bring down the pricing IAW the rules set by the market.”
If that were true, there would be no high gas prices now. Global oil supplies are about the same as they have been in recent decades.
Perhaps you should educate yourself about the SPR. It is not meant to be traded:
https://en.wikipedia.org/wiki/Strategic_Petroleum_Reserve_(United_States)
LikeLike
Perhaps you should quit being so condescending to those who think you are full of shit.
LikeLike
If you are smart enough to show me where I am full of shit, maybe I’ll take you seriously.
LikeLike
If you haven’t seen how many times you have been told you are full of shit, I can’t help you.
LikeLike