Marjorie Taylor Greene Says Biden “Abused His Power” by Lowering Gas Prices

Discussion in 'Current Events' started by Think for myself, Jan 27, 2023.

  1. jcarlilesiu

    jcarlilesiu Well-Known Member Past Donor

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    Your desire to approach the topic from a position of superior understanding screams of insecurity.

    People that disagree with you aren't ignorant.

    From the actual legislation:

    DRAWDOWN AND SALE OF PETROLEUM PRODUCTS
    SEC. 161. (a) The Secretary may drawdown and sell petroleum
    products in the Reserve only in accordance with the provisions of
    this section.
    ø(b) Repealed by section 103(15)(C) of P.L. 106–469 (114 Stat.
    2031).¿
    ø(c) Repealed by section 103(15)(C) of P.L. 106–469 (114 Stat.
    2031).¿
    (d)(1) Drawdown and sale of petroleum products from the Stra-
    tegic Petroleum Reserve may not be made unless the President has
    found drawdown and sale are required by a severe energy supply
    interruption or by obligations of the United States under the inter-
    national energy program.
    (2) For purposes of this section, in addition to the cir-
    cumstances set forth in section 3(8), a severe energy supply inter-
    ruption shall be deemed to exist if the President determines that—
    (A) an emergency situation exists and there is a significant
    reduction in supply which is of significant scope and duration;
    (B) a severe increase in the price of petroleum products
    has resulted from such emergency situation; and
    (C) such price increase is likely to cause a major adverse
    impact on the national economy.


    Do you really feel this condition existed?
     
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  2. Bluesguy

    Bluesguy Well-Known Member Donor

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    They are litterally NOT for a President to manipulate price at the pump. He had the power to shut down our domestic capabilities, he ran on the fact pledging to do so, he first acts were to do so and the left praised him for it. Now he needs our EMERGENCY reserves to save his arse.
     
  3. Louisiana75

    Louisiana75 Well-Known Member Past Donor

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    Compassion? At what cost? Now it will cost much more to replenish. How coincidental is happen just before the election and now gas prices are rising again. As someone else pointed out, same situation with the student loan forgiveness.

    Bush's minority homeownership drive is what eventually lead to the crash and foreclosure of many homes. Applications are based on facts, not race. Underwriters for mortgages never see the buyers. Giving people mortgages they can't afford or giving people mortgages that are not financially responsible will end in disaster and it did.
     
  4. Louisiana75

    Louisiana75 Well-Known Member Past Donor

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    Oil was rising long before the Russian Invasion. The invasion became the new excuse and talking point of the left. Seems you fell for it too.
     
  5. WalterSobchak

    WalterSobchak Well-Known Member

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    You are correct. I don't give a damn about whatever conspiracy fantasy reds believe.
     
  6. WalterSobchak

    WalterSobchak Well-Known Member

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    How about not believing in horseshit conspiracy theories that reds gladly eat up.
     
  7. Louisiana75

    Louisiana75 Well-Known Member Past Donor

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    I love it when dems through around the word conspiracy for everything they don't agree with. So far, it's proven to be a precursor for the truth.
     
  8. truth and justice

    truth and justice Well-Known Member

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    So? How does that make my statement wrong?
     
  9. WalterSobchak

    WalterSobchak Well-Known Member

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    The reason it is "thrown" out there because it is true. It isn't my fault that reds can't accept reality and cling on to batshit crazy conspiracy theories to cope with their lives.
     
  10. flyboy56

    flyboy56 Well-Known Member Past Donor

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    Biden sold low and will now be using taxpayers money to buy oil at a higher price? What did it really do to help Americans? The price drop of gas was very minimal at best. Like his bill to payoff education loans to buy votes he did this as well.
     
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  11. cabse5

    cabse5 Banned

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    The US will replace its oil reserves with much higher priced crude also. BTW, tell sleepy Joe China ain't no friend of the US.
     
  12. truth and justice

    truth and justice Well-Known Member

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    Each barrell was sold for much more than the current $80, some at around $110 so could you explain how Biden sold "low"?
     
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  13. cabse5

    cabse5 Banned

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    That crude oil price is creeping back up. Before all the reserves are restocked, the price will be higher...Especially since sleepy Joe doesn't want any new oil explored for in the US.
     
  14. flyboy56

    flyboy56 Well-Known Member Past Donor

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    The actual numbers will come out when the reserves are replenished so stay tuned.
     
  15. nopartisanbull

    nopartisanbull Well-Known Member

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    Domestically, Big Oil producers, such as Chevron have been drilling, mainly State land, Permian Basin. Who approved their permits? RCC Texas.

    ALSO, in 2021, and due to supply chain and workforce issues, it was nearly impossible to increase crude oil production by 1,000 thousand barrels per day.

    Do you know how many drilling/servicing rigs sat idle because of a labor shortage? I do

    Do you know how many times rig crews had early shutdowns, and unwanted days off because the supplies they needed to complete the job weren’t produced/delivered on time? I do

    By the way, here’s an eye-opener;

    Chevron’s 2023 Capital Budget; $17 billion
    Chevron’s 2018 Capital Budget; $18 billion
     
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  16. JohnHamilton

    JohnHamilton Well-Known Member

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    You have a nice list of excuses, and you seem to think that Chevron is the only oil company. It all started when Joe Biden shut down the pipeline as one of his first acts in office. His goal was to raise prices on the backs of working Americans to satisfy his climate change agenda. Raise the price of fossil fuels, no matter how clean they are (natural gas), and you force people into "clean energy" via high prices. The Democrats don't have courage to explain their cruel policies. All the other stuff are just excuses to cover for the Democrat Party and the Joe Biden, the puppet president.
     
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  17. Alwayssa

    Alwayssa Well-Known Member

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    Then get rid of lobbying efforts in which members of Congress are lobbied, er I mean bribed, to vote one way or the other. The release of the oil reserves was a stop-gap measure. Now that is over, look at what gas prices are doing, then look at the oil companies such as Chevron who have pulled in record profits and yet still cry how "poor they are."

    Here is another one for you. Why do you think oil companies want to open up federal lands to oil and gas leases? It is because it is a hell of a lot cheaper to drill there than anywhere else. Everywhere else on private land you have to pay the owner a part of the royalty fees for the gas/oil that is pulled from the ground plus all the costs for the easements of the land, and all the legal costs to get it on private land, assuming the private owner says "yes." They avoid all that with federal land and pay a fraction of the lease prices compared to private land. Hence why they pay money to members of congress through their lobbying efforts to get this done. And yes, we are the most open corrupt government on this planet.
     
  18. nopartisanbull

    nopartisanbull Well-Known Member

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    A few good points.

    Politicians often have two reasons for doing something…..A GOOD REASON, and an “ulterior one”.
     
  19. Louisiana75

    Louisiana75 Well-Known Member Past Donor

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    What was the purpose of stating that? Nothing, so I pointed that out. You might as well state you did laundry yesterday.
     
    Last edited: Jan 29, 2023
  20. 19Crib

    19Crib Well-Known Member Past Donor

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    The SPR does not exist for a president to boost his party’s popularity among his fellow idiots.
    Trump filled it with cheap oil, Biden sold it off so China could add to its own reserves so it can insulate itself from the ramifications of starting a war with the USA.
    Typical.
     
    Last edited: Jan 29, 2023
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  21. Louisiana75

    Louisiana75 Well-Known Member Past Donor

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    Stating the oil reserves were depleted to temporarily lower gas prices right before an election only to be rising again after the election is a batshit crazy conspiracy theory? You bar is low for so called conspiracy theories.
     
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  22. Alwayssa

    Alwayssa Well-Known Member

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    The maximum output of oil to go through the piples in the Keystone Pipeline XL was 400,000 barrels per day. That is it. It flows from Canada to the south in Texas and Louisiana. Even then the facts that the poster you replied too would still be in effect. And yes, it is facts, not excuses here.

    the other problem is that oil is a worldwide demand. Prices is not as high here as it is in Europe BEFORE the Ukrainian-Russian War, and especially in SE Asia where a liter costs twice as much as a gallon of gasoline here.

    The biggest problem is the crude oil futures market where prices are derived. Currently the price of West Texas Crude Oil is $81per barrel. And that price is slowly going up. We do not have have the oil production to offset that demand. If we did, then OPEC would simply cut more of their supply to keep that price per barrel in a target price that they want. And OPEC, especially Saudi Arabia, will keep that way for some time to come.
     
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  23. Alwayssa

    Alwayssa Well-Known Member

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    Did Trump abuse his power by gutting the environmental regulations so that oil companies can have easier access to land and Trump can claim that he lowered gas prices for the American people?

    Geez, if you want Biden to be accused of abuse of power, then maybe Trump should too, But let me guess, it's different with Trump because the rules should not apply to him, your Dear Leader Kim Jung Trump.
     
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  24. 19Crib

    19Crib Well-Known Member Past Donor

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    Speaking of futures, oil is going up because the markets see tightening supplies down the road. This is due to being prevented by political decrees preventing companies from lining up supplies for markets down the road. (Thus the term: “Futures” - the expected cost down the road of oil as a component of your own companies cost of goods)
     
    Last edited: Jan 29, 2023
  25. Alwayssa

    Alwayssa Well-Known Member

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    what he said is historically accurate. Second, what the SPR is used for under the law is exactly what Biden did. OPEC is trying to create another oil crisis of 1973 by cutting production so that worldwide demand with little suppy will increase the future's oil market crude barrel prices and hence higher gas prices at the pump. This is not just an American phenomenon, it is a global phenomenon. And they will continue to keep that price until we either acquiesce to their demands or not. Third, your entire argument is on spacious grounds. You are effectively arguing that because it was against your political agenda to keep oil prices high, and therefore be easier to blame Biden for high oil prices, you think this will win you the WH in 2024. Rest assured, it won't, not something like this. It didn't hurt Nixon/Ford in 1973 or in 1976, so what makes you think it will hurt Biden in 2024? So, your argument is to keep higher prices of oil for the American people in order to fulfill your political agenda. So much for nationalism there,. And if we use conservative logic, then accusations of being a traitor to the enemy are in store.

    Finally, the selling of oil. The government does not sell oil to foreign countries, what happens is the oil is actioned off to any company that is part of the SPR Crude Oil Offer Program. By law, it goes to the highest bidder to purchase that oil. And the DOE cannot dictate what the company does to the oil. Furthermore, US subsidiaries of foreign firms have been eligible since 2015 when it was lifted by law under a GOP controlled house and senate and a Democratic President. No worries then, was there? Thus, a lot of what conservative sites said is a bunch of half truths. Letting oil reserves go to help national gas prices because supply was cut by a foreign source, like in 1973, is what the law is designed for. And yet, you are upset with a law that has been on the books since 1975? go figure.
     
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