WSF Freelink Biden’s Political Use of SPR
Biden and the Democrats are manipulating the oil market for political gain and doing it with stunning incompetence.
You might remember during the pandemic, Trump wanted to buy oil for the SPR at $24/bbl to keep fracked shale wells from being damaged by shutting them down, and the Democrats blocked it as a ‘bailout for big oil,’ Bet Biden wishes those wells were still in production now..
Tidewater News and Opinion Forum 
But, but, but isn’t Biden really looking out for the American consumer kind of like a social philanthropist so to speak? That’s what the dolt and his blind followers would have you believe. No, just another dirty trick that liberals have become accustomed to try to pull over their tribe’s better judgement and succeeding but the clear thinking conservative populous knows better that its nothing but election manipulation on a grand scale. Shame on liberals for lying to this magnitude.
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RE: “Biden and the Democrats are manipulating the oil market for political gain and doing it with stunning incompetence.”
The key word is “manipulating.” What gives Biden and the Democrats the right?
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What I find interesting is that the price of a barrel of crude oil closed yesterday at $85.55/per. (Up $2.73 over the previous day’s close). Yet our gas prices have risen around $0.40 in the past couple of weeks. So the market price is down and the consumer price is up. That does not compute except to keep profits sky high for Big Oil while the rest of us figure out how much gas we can use in a pay period.
So who is actually manipulating things here? Biden or the oil companies?
And if you don’t believe the same thing would be occurring under similar circumstances with a Republican in the Oval Office, you are delusional.
By the way, that offer was when the market price was in the same vicinity. But Trump and Biden (and Obama, Bush I or II, Clinton, Reagan, Ford, etc.) do NOT control the market.
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Google “futures markets”
Biden’s intention to bankrupt fossil fuel companies greatly effects long futures with an expectation of much higher future prices.
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Those prices ARE futures priced. usually a month or two out.
You try the same argument every time, yet the profits of oil companies are holding quite steady. My back is tired of carrying oil companies taking exorbitant profits. How’s yours?
The point being is that your beloved market is taking profits at the expense of the economy in this country and around the world. But you are fine with it because, well, THE MARKET.
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Those oil companies are not to blame. Democrats’ meddling in the market are the reason that the COVID disruption did as much harm as it did.
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“Biden’s intention to bankrupt fossil fuel companies . . .”
It is impossible to take anything you say or any “fact” you offer with any seriousness. This is a good example of why that is.
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https://www.breitbart.com/economy/2022/03/31/bank-financing-for-fossil-fuels/
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Same goes for your links to Qanon and insurrectionist web sites. Not serious.
And sure enough it is superficial story that makes no attempt to quantify oil or gas projects that did not happen BECAUSE bank financing was not available. Companies raking in record profits and cash flows have less need for outside financing especially with interest rates considerably higher than they were in 2019.
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Straight to ad hominem, as usual. Where is the story in error?
Of course it is superficial. It’s a news story, not a financial analysis. The second paragraph links to the source if you want that.
The story is true and shows the effect of Biden’s policies on the industry.
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If the oil companies profits are as high as they are, I don’t see any reason for them to NEED to go to banks for more money. They are a safe bet for the banks, but why pay interest to borrow money when you can just steal it form the consumers, put a little into R&D and the rest to the c-suite residents and stockholders.
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Yeah, ad hominem. And proud of it.
A propaganda site run by an convicted felon who is making a career out of sowing chaos is a site I would not trust for the time of day.
The story does NOT show the effect of Biden’s policies on the industry. That is the point I made earlier about how totally superficial it is. Loans to oil and gas by four giant banks are below the level they were in 2019. Big Whoop!
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In addition to playing left wing oil games for votes, Biden is blatantly buying votes of young people, especially blacks, with unappropriated taxpayer money to the tune of at least $150 billion just for starters tying it to covid emergency funding and bragging abt it. Any Covid emergency is over!! Covid is being treated like the flu now. Is buying all young people a new electric car for votes at taxpayer expense next?
https://www.google.com/amp/s/amp.cnn.com/cnn/2022/10/21/politics/joe-biden-student-debt-relief/index.html
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So far the courts have agreed that the President is acting within the authority granted him in the Heroes Act. Even SCOTUS has not intervened to obstruct the sorely needed relief.
https://www.reuters.com/markets/us/us-supreme-courts-barrett-declines-block-biden-student-loan-relief-2022-10-20/
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Claiming no standing is not agreeing with Bidens authority.
Sorely needed relief from a contract that was voluntarily entered into and promised to pay back? Hell no, you bought now pay for it.
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“Hell no, you bought now pay for it.”
Or, declare bankruptcy as Dear Leader has done multiple times. Oh wait, the law does not treat student loans like other debt. Too bad. Pay up.
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