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#361
Jun 5 2024 09:34am
Quote (Crunkt @ Jun 5 2024 11:26am)
Nope I am not saying that at all

What Biden did throughout Covid for Oil was amazing

Biden used a bunch of the reserves and sold it off to help keep gas and oil prices down, then he ramped up production which lowered the price then bought back the reserve amounts used at less price.

he literally made the govt like a billion dollars from this tactic


edit: sorry it was 4 billion

https://i.imgur.com/HJ0jJtb.png

https://markets.businessinsider.com/news/commodities/us-crude-oil-profit-strategic-petroleum-reserve-releases-crude-joe-biden-2022-12


Emptying the SPR to keep a lid on oil prices (so inflation isn't even higher than it would currently be) isn't the flex you think it is.

It's actually a pretty poor tactic, for political reasons, one that puts us in a precarious situation if for example there was some huge shock to oil supply or some huge natural disaster, which is the key reason the SPR was created initially. The whole point of it is really to just sit there for some black swan event.

This post was edited by ofthevoid on Jun 5 2024 09:45am
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#362
Jun 5 2024 09:34am
Biden is an idiot. Those US oil reserves are there for a reason. ^^


You telling me you never saw the movie: Road Warrior? LOL
Whoever has the last of the oil... wins. :)

Ka-chunk, ka-chunk, ka-chunk...

This post was edited by Ghot on Jun 5 2024 09:36am
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#363
Jun 5 2024 09:39am
Quote (Crunkt @ 5 Jun 2024 10:26)
Nope I am not saying that at all

What Biden did throughout Covid for Oil was amazing

Biden used a bunch of the reserves and sold it off to help keep gas and oil prices down, then he ramped up production which lowered the price then bought back the reserve amounts used at less price.

he literally made the govt like a billion dollars from this tactic


edit: sorry it was 4 billion

https://i.imgur.com/HJ0jJtb.png

https://markets.businessinsider.com/news/commodities/us-crude-oil-profit-strategic-petroleum-reserve-releases-crude-joe-biden-2022-12

This is actually just an argument that Biden is very centrist

he agreed to this climate stuff to appease the libs then he cut back majorly on that deal and went full blown oil baron for a year. This is actually a very centrist approach lol


When we sell our debt to China is that a good thing?

When we use are reserves because Joe Biden shut down the Keystone XL pipeline 1st day in office is that a good thing?

4 billion dollars worth of oil that should still be sitting in our reserves. The whole point of us destroying the Middle East was to steal oil resources and "suck them dry" so that our military which uses more oil then any other entity on Earth could remain a well oiled machine.

We have TONS of oil reserves in Alaska and on the Gulf coast but strategically we want to hold off using ANY for military purposes.

Where are you going with this?
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#364
Jun 5 2024 09:46am
Quote (Ghot @ 5 Jun 2024 11:34)
Biden is an idiot. Those US oil reserves are there for a reason. ^^


You telling me you never saw the movie: Road Warrior? LOL
Whoever has the last of the oil... wins. :)


dude he bought it all back at a lower price ...

let me explain it to you with pictures



This post was edited by Crunkt on Jun 5 2024 09:50am
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#365
Jun 5 2024 09:48am
Quote (Crunkt @ Jun 5 2024 11:46am)
dude he bought it all back at a lower price ...

let me explain it to you with pictures

https://i.imgur.com/fX6KOYK.png


zoom out lol

https://en.wikipedia.org/wiki/Strategic_Petroleum_Reserve_%28United_States%29#/media/File:US_Strategic_Petroleum_Reserve.webp
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#366
Jun 5 2024 09:49am
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#367
Jun 5 2024 09:51am
Quote (ofthevoid @ 5 Jun 2024 11:48)
zoom out lol

https://en.wikipedia.org/wiki/Strategic_Petroleum_Reserve_%28United_States%29#/media/File:US_Strategic_Petroleum_Reserve.webp


Quote (SwamiVivekananda @ 5 Jun 2024 11:49)
:rofl: :rofl:


Yes sure


its the same price
definitely no where near where it was before Biden stepped in
https://ycharts.com/indicators/us_gas_price


P.S YOU WOULD HAVE LEARNED ALL THIS IN ECONOMICS IN SCHOOL


anything else or do you have enough notes now for this weeks reading?

This post was edited by Crunkt on Jun 5 2024 10:00am
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#368
Jun 5 2024 10:00am
Quote (Crunkt @ Jun 5 2024 11:51am)
Yes sure

https://i.imgur.com/4tzNU9K.png
its the same price
definitely no where near where it was before Biden stepped in
https://ycharts.com/indicators/us_gas_price


P.S YOU WOULD HAVE LEARNED ALL THIS IN ECONOMICS IN SCHOOL


Mate just slow down and read. You’re posting a chart of gas, not oil. Biden tapped the SPR mostly to keep OIL prices down, the stuff you put in your gas tank not so much to control gas prices (the stuff you heat your house with)

We’re talking about aggregate SPR holdings of Oil.

This post was edited by ofthevoid on Jun 5 2024 10:02am
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#369
Jun 5 2024 10:00am
Quote (Crunkt @ 5 Jun 2024 10:51)
Yes sure

https://i.imgur.com/4tzNU9K.png
its the same price


Is that adjusted for "inflation"????? :P

Where's
Thor123422
when we need him? He's the expert.

I trade energy stocks daily and I have since 2014. What you are not seeing is the THOUSANDS of job cuts and "profit taking" that big energy HAD to do because the Democrat party signed back on to the "Paris Climate Agreement". While countries like China and India continue to ramp up production of "dirty energy" we decided to stifle our own energy production.

It's not as simple as a graph unfortunately there are HUNDREDS of other variables involved.
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#370
Jun 5 2024 10:04am
Quote (SwamiVivekananda @ 5 Jun 2024 12:00)
Is that adjusted for "inflation"????? :P

Where's ^Thor123422 when we need him? He's the expert.

I trade energy stocks daily and I have since 2014. What you are not seeing is the THOUSANDS of job cuts and "profit taking" that big energy HAD to do because the Democrat party signed back on to the "Paris Climate Agreement". While countries like China and India continue to ramp up production of "dirty energy" we decided to stifle our own energy production.

It's not as simple as a graph unfortunately there are HUNDREDS of other variables involved.


The entire point of the graph is to show Goom how the Oil reserves weren't affected.

You are so far off base im literally not even talking to you bro pay attention to the conversation
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