Energy industry slams Biden's Strategic Petroleum Reserve release plan: 'Not a long-term solution'

I would doubt his handlers would let that happen. But then again......his handlers are the cause of other absurdities. Maybe it's just wishful thinking on my part.

 

A lot, but so what's your point? That anything that's good for Big Oil, is therefore good for lots of Americans, even if it is bad for America? You should realize that makes no sense. Our country belongs to its citizens. That includes our resources. How many Americans have to pay more for gas, if those we give oil leases, only want to pump it, when they can get the highest price possible? That cost is obviously going to outweigh the benefit to peoples' 401Ks.

It is certainly understandable that oil companies want to maximize their profits; that is their acting rationally. But our not using our own leverage-- because the land and oil actually belong to the country, & we are giving that resource to oil companies, simply for their drilling & pumping it out-- is not rational; oil companies are not doing us a favor, they are getting a sweet deal. Lots of people had tobacco stocks on their portfolios, in the '70s-- did that mean we should have turned a blind eye to the dangers of smoking, with the same argument you are now making: that an anti- smoking campaign would hurt people's retirement accounts, and so forth? There are plenty of other stocks to buy, companies in which to invest, where that investment both can more benefit the country at large, as well as have more growth potential, than with oil companies-- even just sticking with energy sector stocks.

 

Perhaps, but I always hate to see the SPR robbed for short-term political points. Perhaps a committee in charge then, instead of the entirety of Congress.

 

Speaking of your 401K

“Tapping our strategic oil reserves instead of drilling is as stupid as tapping your 401k instead of going to work.”

The answer is more supply, but the Woke Carbon Doomsday Cult want to strangle supplies and so Diaper Boy is trying to throw on a bandaid to get Dems through the election.

 

Energy industry slams Biden's Strategic Petroleum Reserve release plan: 'Not a long-term solution'

Nor is it intended to solve anything It is politics. The white house wants the public to know it is doing something. I wish it would do the right thing instead.

 

Psst, it's not a long term problem..

 

Pssst. I didn't say it was. I said the fuel release was poltical, not intended to fix anything.

 

The crap you pasted did.

Of course it's political. The idea is to soothe frayed nerves. He's buying time while he works the problem.

Which is screamingly obvious..

 

Psst. "Biden is working the problem?" He just claimed that Michelle Obama was VP during the time that Joe Biden was.

Brent Crude was $108/Barrel when he announced that he was releasing a 1/3rd of the entire SPR between now and election time, and it's $108/Barrel right now.

So why did this not affect the market? Because the market knows that we will need to refill the SPR.