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

Prices are lower, not higher.

https://markets.businessinsider.com...-reserve-releases-crude-joe-biden-2022-12?amp

 

Ya, we have established how, well I have, profit works! So, again, will April bring lower crude prices or is this just a cross your finger and hope they do

 

It's unlikely to reach $96 per barrel

 

Please explain when the reserves have been used to do anything BUT lower prices and increase supply. Go on. Give me an example. Then we can address your fake "nanny" argument.

 

So you believe the SR were filled with 96$ a barrel crude?

And also believe crude will drop below the price it was originally paid for?

 

We see it over and over and over again. Biden has very few options to lower gas prices. The uninformed want to blame him for gas prices, but they fly into a rage when he does pretty much the only thing he can do to lower gas prices. The whole train of thought is dumber than a box of hair.

 

We’re certainly not crude oil independent. When Trump was POTUS, crude oil exports haven’t exceeded imports, and the type of crude oil we mostly export is LIGHT, and that’s because U.S. refineries are mainly heavy crude refiners.

 

There are several that HAVE been approved and there aren't shovels in the ground in those. The oil companies don't WANT more shovels in the ground right now. They could put more shovels in the ground any time they want to -- they have a financial incentive to not do that.

 

The oil was sold at an average of $96. WTI oil price is currently less that $80. I also see that you still don't understand basic economics

 

And what was it bought for AND WHAT WILL IT COST TO REPLACE IT That will give you the profit..

 

except the left....

He did it for the only thing that matters to the left....votes.

No, he didn't.

 

You think that it was bought at higher than $96 per barrell?

 

Nope, and that's the point

And BTW You think Texas is supplying the entire U.S. with crude?

Nice try, you might want to go with brent, it's global prices

 

Well, I’ll give you another independent left-leaning response;

In reference to Big Oil record profits; I like it!

And here’s why;

When I was employed by Big Oil, our Bakken Oil breakeven price was $55 per barrel. Results; 2017, 2018, 2019, and 2020….We carried forward losses.

2. I strongly support an average price of $75 a barrel, thus, my sincere apology to all those who are still whining about the price at the pumps.

 

yeah, this post of Joe's is just wrong

 

yes, high oil prices are good for American oil companies, just not for American consumers

 

Lol.

So you think it was just a coincidence actions were taken to reduce gas prices and promises made for student loan forgiveness right before the election weren't done to bolster votes?

Really?

 

The reserves exist to offset significant supply interruptions which have the potential to severely impact our economy.

Lowering gas prices by 80 cents to bolster election results may be strategic for Democrats, but not the country.

Worse is when policy is instituted which creates the issue, and then using strategic reserves to circumvent politically what amounts to bad policy.

 

No worries, the Government will make a profit from it. Not so much taxpayers but I'm sure they will do right fine from it

 

One day you will understand! The WTI is the benchmark for the US oil market. You have not made any points! You clearly didn't know what WTI oil is or the difference between WTI oil and Brent oil or any of the many other different types of oils

 

Poor memory-- yeah, sure; that's the reason for their fictional accusations.

 

No need to be so generous

 

What does WTI stand for And again, how much crude does the state of Texas produce a day compared to what the U.S. uses per day

 

Well, to bring the essence of the thing down to earth -- the Strategic Petroleum Reserve is supposed to be used only (ONLY) for national EMERGENCIES, and even then only on a very temporary (TEMPORARY) basis... i.e., until the EMERGENCY is over.

But what did Biden do? He ordered release of SPR oil a full year before the 2022 elections, even though there was no (NO) emergency! Hell, there wasn't even a 'Ukraine war' then, either. He did it purely for political reasons! He wanted to make it look like "happy days are here again" for dull-witted, gullible voters who were already permanently-addicted to the government giving them something!

 

Permits are useless on leases that have no chance of producing crude

Leases and Permits, you have a thousand permits on a dry patch of LEASED land.. Or as they call it 'A Dry tit"