Dem-Media to drain national oil reserve in desperate bid for political survival

[Jerry]

Link below. You knew this was coming. I mean, they've done it twice already to little effect but this time they're going all the way: one million barrels a day for as long as six months, which pretty much gets them to the November election. Amazing coincidence.

You may have thought the strategic petroleum reserve existed for purposes of national emergency...not to serve partisan political interests. But as we have seen, Dem-Media will do whatever it takes...the law, the constitution, and the national interest be damned. I mean, what do we need an oil reserve for anyway?

These corrupt liars and their senile front-man wreck everything. They are menaces to our country.

OPEC+ sticks to modest oil output hike as U.S. considers unprecedented release of reserves

The meeting comes more than a month after Russia launched its invasion of Ukraine.

www.cnbc.com

 

[The Spin Meister]

Link below. You knew this was coming. I mean, they've done it twice already to little effect but this time they're going all the way: one million barrels a day for as long as six months, which pretty much gets them to the November election. Amazing coincidence.

You may have thought the strategic petroleum reserve existed for purposes of national emergency...not to serve partisan political interests. But as we have seen, Dem-Media will do whatever it takes...the law, the constitution, and the national interest be damned. I mean, what do we need an oil reserve for anyway?

These corrupt liars and their senile front-man wreck everything. They are menaces to our country.

OPEC+ sticks to modest oil output hike as U.S. considers unprecedented release of reserves

The meeting comes more than a month after Russia launched its invasion of Ukraine.

www.cnbc.com

So next winter, when the world is starving and food is triple what is now, are they going take food from the strategic food reserves?

 

[NJPSU]

Link below. You knew this was coming. I mean, they've done it twice already to little effect but this time they're going all the way: one million barrels a day for as long as six months, which pretty much gets them to the November election. Amazing coincidence.

You may have thought the strategic petroleum reserve existed for purposes of national emergency...not to serve partisan political interests. But as we have seen, Dem-Media will do whatever it takes...the law, the constitution, and the national interest be damned. I mean, what do we need an oil reserve for anyway?

These corrupt liars and their senile front-man wreck everything. They are menaces to our country.

OPEC+ sticks to modest oil output hike as U.S. considers unprecedented release of reserves

The meeting comes more than a month after Russia launched its invasion of Ukraine.

www.cnbc.com

You can’t have it both ways.

The Right screams and cries about gas prices and treats it like a 5 alarm emergency, Then when the President treats it as such you complain and say he’s overreacting for political reasons.

Your logic is ridiculous.

 

[horace19040]

You can’t have it both ways.

The Right screams and cries about gas prices and treats it like a 5 alarm emergency, Then when the President treats it as such you complain and say he’s overreacting for political reasons.

Your logic is ridiculous.

We could say the same about you. Do you now admit the president can influence the price of gas? Did you forget you were against fossil fuels?

 

[Hotshoe]

You can’t have it both ways.

The Right screams and cries about gas prices and treats it like a 5 alarm emergency, Then when the President treats it as such you complain and say he’s overreacting for political reasons.

Your logic is ridiculous.

No it isn't. It's a strategic reserve for a reason, and it's not to lower gas prices. It never has been. It's about supply issues. Meanwhile, your party is lying daily about production. Show me where the gas lines are where folks cannot obtain gasoline? I'll be waiting.

 

[bourbon n blues]

They're all lairs Hotshoe, point out a decent one here and I'll be surprised.

 

[NJPSU]

No it isn't. It's a strategic reserve for a reason, and it's not to lower gas prices. It never has been. It's about supply issues. Meanwhile, your party is lying daily about production. Show me where the gas lines are where folks cannot obtain gasoline? I'll be waiting.

It’s not Biden’s fault that the private sector refuses to max production. Once again the government is forced to come in and clean up after another private sector clusterf#ck Just like the did after the financial crisis of 2007-2008.

 

[JR4PSU]

So next winter, when the world is starving and food is triple what is now, are they going take food from the strategic food reserves?

They'll issue seeds from the international seed repository so you can grow your own food.

 

[JR4PSU]

You can’t have it both ways.

The Right screams and cries about gas prices and treats it like a 5 alarm emergency, Then when the President treats it as such you complain and say he’s overreacting for political reasons.

Your logic is ridiculous.

There is a FAR better solution to draining our reserves, meant for national security reasons, like war. He can simply change the administration's stance re: fossil fuel development in the US. Assure producers in the US that the administration won't turn on them in a millisecond and rescind any change to encourage development here. Right now, US producers are afraid to put any money into domestic drilling operations above what they are currently supporting because the greenies will shut them down in a heart beat and leave the producers hanging with $B of invested money.

 

[pawrestlersintn]

It’s not Biden’s fault that the private sector refuses to max production. Once again the government is forced to come in and clean up after another private sector clusterf#ck Just like the did after the financial crisis of 2007-2008.

It absolutely is his fault. He has created nothing but uncertainty in the energy markets. When uncertainty exists, companies are more conservative with capital.

 

[JR4PSU]

It’s not Biden’s fault that the private sector refuses to max production. Once again the government is forced to come in and clean up after another private sector clusterf#ck Just like the did after the financial crisis of 2007-2008.

Yes it is. The private sector is afraid to invest in new drilling because they could spend $Bs on new exploration and well development just to be shut down in a month after the current crisis goes away and greenies convince Biden to reverse any course on giving out permits.

 

[pawrestlersintn]

3 people, in 3 different ways, have told NJ the same thing. The problem is NJ doesn't think that economics apply to liberal policies.

 

[Darth_VadEER]

You can’t have it both ways.

The Right screams and cries about gas prices and treats it like a 5 alarm emergency, Then when the President treats it as such you complain and say he’s overreacting for political reasons.

Your logic is ridiculous.

Nope, as usual you fail to understand the issue..

People are angry because politicians keep creating crisis and putting the burden on normal Americans.

America is capable of producing it's own energy, but politicians (mainly Democrats) wont allow it to happen - they generated the emergency.

Same with COVID and the problems it caused with staffing, supply chain and inflation. The government over reacted, and now regular folks carry the burden.

 

[Darth_VadEER]

It’s not Biden’s fault that the private sector refuses to max production. Once again the government is forced to come in and clean up after another private sector clusterf#ck Just like the did after the financial crisis of 2007-2008.

What a foolish opinion. The companies know better than to take the risk on the investment when the current administration is hostile to their business.

They could burn through billions just for Democrats to pull the rug.

 

[Jerry]

They're all lairs Hotshoe, point out a decent one here and I'll be surprised.

I think they're not so much liars themselves as people who are conditioned by ideology to believe lies.

 

[bourbon n blues]

I think they're not so much liars themselves as people who are conditioned by ideology to believe lies.

I think we could dicker over this one for some times over bourbon or beer, lol. After some time if you chose to believe BS I chose to believe you're dishonest ,stupid, or both.

 

[NJPSU]

It absolutely is his fault. He has created nothing but uncertainty in the energy markets. When uncertainty exists, companies are more conservative with capital.

“Uncertainty” - you mean like a trade war that goes on and off on a daily basis via tweet?

 

[tIUguy2]

“Uncertainty” - you mean like a trade war that goes on and off on a daily basis via tweet?

Yup. That’s why Trump had to face the political economic pressure of $4+/gallon gas.

 

[NJPSU]

Yup. That’s why Trump had to face the political economic pressure of $4+/gallon gas.

..and never hit 3% annual GDP growth.

 

[The Spin Meister]

3 people, in 3 different ways, have told NJ the same thing. The problem is NJ doesn't think that economics apply to liberal policies.

BS. He knows how it works. He is just here to troll all the fools that respond and give him the attention he craves. As long as the fools respond, he will continue.

 

[PSUcup1]

It’s not Biden’s fault that the private sector refuses to max production. Once again the government is forced to come in and clean up after another private sector clusterf#ck Just like the did after the financial crisis of 2007-2008.

You really can’t be this stupid. I mean it’s virtually impossible. It has to be an act …

 

[The Spin Meister]

You really can’t be this stupid. I mean it’s virtually impossible. It has to be an act …

What have I been saying for months......🤷🏽

 

[m.knox]

..and never hit 3% annual GDP growth.

Who cares. Women, minorities, the poor... all got ahead.

 

[m.knox]

Dear Joe Biden, stop sounding like AOC if you want to solve the oil crisis​

"It's CORPORATE GREED!!!" lmfao....

https://nypost.com/2022/03/31/dear-...like-aoc-if-you-want-to-solve-the-oil-crisis/

President Joe Biden wants you to think he has a plan to lower prices at the pump: flood the market with 1 million barrels a day for 180 days from the strategic oil reserve.

There is just one problem: We’ve seen this dog-and-pony show before — and it failed, twice since November alone.

So much for that “wartime bridge” Biden reassuringly promised in his Thursday speech. One million barrels a day isn’t that impressive when you realize the United States consumes 21 million barrels daily.

What’s worse, Biden doesn’t seem to have any clue on how to solve the energy crisis he created in the first place.

And no, it’s not “Putin’s price hike” thanks to the war in Ukraine the president needs “to protect” us from. It’s Biden’s stupidity that is the problem.

Let’s take a trip down memory lane. When Biden strutted into the Oval Office in January 2021, the nation was essentially energy-independent. During the height of the oil boom years of the Trump administration, America was pumping an astounding 13.6 million barrels per day.

How the United States achieved that was simple but years in the making. Team Trump removed the vast number of insane regulations that hampered our oil and natural-gas industry during the Obama-Biden years. President Donald Trump created an environment whereby energy companies knew that spending the billions of dollars needed to invest in increased production would not be wasting money.

The results spoke for themselves. Gas prices were down to $1.89 for regular as a national average at one point. There were no worries about shortages, price problems or any other issues. Just pure abundance.

 

[Hotshoe]

Wait till folks see the results of 20 million acres of corn not planted due to cost and availability of fertilizer. The green energy push may destroy the Democrat party.

 

[gjbankos]

They're all lairs Hotshoe, point out a decent one here and I'll be surprised.

There isn't a decent one here.

 

[tIUguy2]

..and never hit 3% annual GDP growth.

Trying to correct the Obama disaster was, almost, an exercise in futility. But Trump made it happen. He should be exalted as a hero as a result. Unfortunately people who are intellectually bereft (such as yourself) will never acknowledge Trump’s success. More’s the pity.

 

[KnightWhoSaysNit]

Wait till folks see the results of 20 million acres of corn not planted due to cost and availability of fertilizer. The green energy push may destroy the Democrat party.

Regarding inflation, I am not so sure that the people who voted democrat in the last election are smart enough to make the connection between cause and effect. Think about it. NJ types are their voting block. They think high prices are the fault of the companies that sell their goods and services. Nothing to do with policies that hurt production or the money supply. Not in their thinking.

Listen to what Biden says. It's criminal.

 

[tIUguy2]

Wait till folks see the results of 20 million acres of corn not planted due to cost and availability of fertilizer. The green energy push may destroy the Democrat party.

I’m eternally grateful that I live in an agrarian state where food will always be plentiful. They say that the incisiveness of wit is the first thing to go when one is hungry. Thus...we have NJ, LB, RoyalT and Paoli as proof positive.

 

[KnightWhoSaysNit]

Link below. You knew this was coming. I mean, they've done it twice already to little effect but this time they're going all the way: one million barrels a day for as long as six months, which pretty much gets them to the November election. Amazing coincidence.

You may have thought the strategic petroleum reserve existed for purposes of national emergency...not to serve partisan political interests. But as we have seen, Dem-Media will do whatever it takes...the law, the constitution, and the national interest be damned. I mean, what do we need an oil reserve for anyway?

These corrupt liars and their senile front-man wreck everything. They are menaces to our country.

OPEC+ sticks to modest oil output hike as U.S. considers unprecedented release of reserves

The meeting comes more than a month after Russia launched its invasion of Ukraine.

www.cnbc.com

Republicans should have tons of material going into the next election.

Biden is tapping the strategic petroleum reserves while his party denigrates and vilifies the oil industry. Republicans need to go public with what these "leaders" have said about fossil fuels. They need to stress this, including all of the extra regulations and restrictions.

If I were a CEO of an oil company testifying in front of Congress that is what I would do. Dems have made the risk of investment high. They've said they want to eliminate oil companies.

This should be really easy. I'm hoping for some good TV commercials. Maybe one with the Energy Secretary laughing about the price of oil.

 

[rumble_lion]

No it isn't. It's a strategic reserve for a reason, and it's not to lower gas prices. It never has been. It's about supply issues. Meanwhile, your party is lying daily about production. Show me where the gas lines are where folks cannot obtain gasoline? I'll be waiting.

The strategic oil reserve was set up when we were importing 75% of the oil we used. So it had a good reason to exist, to protect us if our imports got cut off. Last year we were a net petroleum exporter so not much a need for a huge spr.

https://www.eia.gov/tools/faqs/faq....e United States,and diesel fuel, and biofuels.

In 2021, the United States imported about 8.47 million barrels per day (b/d) of petroleum from 73 countries. Petroleum includes crude oil, hydrocarbon gas liquids (HGLs), refined petroleum products such as gasoline and diesel fuel, and biofuels. Crude oil imports of about 6.11 million b/d accounted for about 72% of U.S. total gross petroleum imports in 2021, and non-crude oil petroleum accounted for about 28% of U.S. total gross petroleum imports.​

​

In 2021, the United States exported about 8.63 million b/d of petroleum to 176 countries and 4 U.S. territories. Crude oil exports of about 2.98 million b/d accounted for 35% of total U.S. gross petroleum exports in 2021. The resulting total net petroleum imports (imports minus exports) were about -0.16 million b/d in 2021, which means that the United States was a net petroleum exporter of 0.16 million b/d in 2021.​

Taking oil out of the spr puts downward pressure on prices which in turn puts more pressure on Putin.

 

[Ski]

 

[tIUguy2]

I liked your post...but it is depressingly pathetic.

 

[KnightWhoSaysNit]

Taking oil out of the spr puts downward pressure on prices which in turn puts more pressure on Putin.

That's the near term impact, which doesn't help the supply/demand problem. In fact it worsens that problem. This will actually worsen long term inflation by delaying the inevitable.

What happens when the draw down stops? (Hint: Prices go back up.)

Six month draw down? Sounds absolutely political to me. Using a national security reserve to blunt the damage that will happen to the Democrats in the midterms.

If Biden wanted to do something about inflation he could. Decrease the money supply, cut federal spending, and encourage the fossil fuel industry through public statements and deregulation. But that would be against the Dem mandates. It would not appease the extremists in The Party.

 

[Hotshoe]

The strategic oil reserve was set up when we were importing 75% of the oil we used. So it had a good reason to exist, to protect us if our imports got cut off. Last year we were a net petroleum exporter so not much a need for a huge spr.

https://www.eia.gov/tools/faqs/faq.php?id=727&t=6#:~:text=In 2021, the United States,and diesel fuel, and biofuels.

In 2021, the United States imported about 8.47 million barrels per day (b/d) of petroleum from 73 countries. Petroleum includes crude oil, hydrocarbon gas liquids (HGLs), refined petroleum products such as gasoline and diesel fuel, and biofuels. Crude oil imports of about 6.11 million b/d accounted for about 72% of U.S. total gross petroleum imports in 2021, and non-crude oil petroleum accounted for about 28% of U.S. total gross petroleum imports.​

​

In 2021, the United States exported about 8.63 million b/d of petroleum to 176 countries and 4 U.S. territories. Crude oil exports of about 2.98 million b/d accounted for 35% of total U.S. gross petroleum exports in 2021. The resulting total net petroleum imports (imports minus exports) were about -0.16 million b/d in 2021, which means that the United States was a net petroleum exporter of 0.16 million b/d in 2021.​

Taking oil out of the spr puts downward pressure on prices which in turn puts more pressure on Putin.

I don't know if I've ever read anything so ridiculous. You folks would sell your soul to protect this decrepit old man in the White House. They won't even say if they're going to replenish the reserve. That's just how gullible you are. Meanwhile, he's attacking the very industry he needs. Your party 🥳 is nothing but a joke right now. From inflation to your woke nonsense, you couldn't do much worse.

 

[psuted]

You can’t have it both ways.

The Right screams and cries about gas prices and treats it like a 5 alarm emergency, Then when the President treats it as such you complain and say he’s overreacting for political reasons.

Your logic is ridiculous.

The illegitimate “so called” President and his pathetic political party caused this situation and now, when the clowns feel the political heat from voters, are looking for ways to ease their pain right before the election, and they try some cosmetic measure to make it look like they care.

A bunch or disingenuous, incompetent, and self serving buffoons. So, no, that’s not having it both ways. It’s called being wise and not being fooled by the incredibly transparent and stupid political games being played by the pathetic Democrats and being totally fed up with their nonsense.

The mid term elections can’t come soon enough.

 

[ao5884]

You can’t have it both ways.

The Right screams and cries about gas prices and treats it like a 5 alarm emergency, Then when the President treats it as such you complain and say he’s overreacting for political reasons.

Your logic is ridiculous.

The point is it shouldn't have been an issue to begin with...why is it high gas prices always come with democrats?

 

[rumble_lion]

I don't know if I've ever read anything so ridiculous. You folks would sell your soul to protect this decrepit old man in the White House. They won't even say if they're going to replenish the reserve. That's just how gullible you are. Meanwhile, he's attacking the very industry he needs. Your party 🥳 is nothing but a joke right now. From inflation to your woke nonsense, you couldn't do much worse.

It's not my party and I really don't care much for Biden. I don't know why people claim he is a far left wing socialist as he spent his entire career in the Senate carrying water for banks and credit card companies. He promised a lot and delivered very little. Like every other administration dem or repub it's business as usual.

 

[PSUEngineer89]

It's not my party and I really don't care much for Biden. I don't know why people claim he is a far left wing socialist as he spent his entire career in the Senate carrying water for banks and credit card companies. He promised a lot and delivered very little. Like every other administration dem or repub it's business as usual.

Oh, please.....its definitely your party.

No democrat as stupid as an old "we're still the party of the working man" democrat.

 

[bdgan]

You can’t have it both ways.

The Right screams and cries about gas prices and treats it like a 5 alarm emergency, Then when the President treats it as such you complain and say he’s overreacting for political reasons.

Your logic is ridiculous.

His logic is perfect. If Biden wanted to treat this like a 5 alarm emergency he would be meeting with U.S. oil producers to develop a plan to increase production. Instead he threatens them while begging our enemies.