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2022-07-27 Economy
'White House announces sale of additional 20 million barrels of oil from Strategic Petroleum Reserve
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Posted by Skidmark 2022-07-27 00:00|| || Front Page|| [11127 views ]  Top
 File under: Tin Hat Dictators, Presidents for Life, & Kleptocrats 

#1 ...to the firm where Hunter Biden holds a 20% stake?
Posted by Raj 2022-07-27 00:07||   2022-07-27 00:07|| Front Page Top

#2 at the end of 2009, we had ~730 Million barrels in the SPR

today we have ~ 510 Million barrels in the SPR (the 20M will bring it to 490M)
Posted by Lord Garth 2022-07-27 00:20||   2022-07-27 00:20|| Front Page Top

#3 Thank you Joe! We could use that.
Posted by The CCP 2022-07-27 00:34||   2022-07-27 00:34|| Front Page Top

#4 LOL to bring gas prices down. They're not even bothering to lie any more. This oil is exported, refined, and sold in distant lands. Not one drop will make it to the gas pump here.
Posted by Tiny Jeater6933 2022-07-27 03:43||   2022-07-27 03:43|| Front Page Top

#5 Just another Biden Crime Family enterprise.
Posted by Besoeker 2022-07-27 05:00||   2022-07-27 05:00|| Front Page Top

#6 The China Strategic Oil Reserve isn't full yet.

Just topping them off!
Posted by CrazyFool 2022-07-27 06:29||   2022-07-27 06:29|| Front Page Top

#7 Oil is only bad for the climate when whitey burns it.
Posted by M. Murcek 2022-07-27 06:32||   2022-07-27 06:32|| Front Page Top

#8 why our emergency energy reserves are being sent

Don't you know? Oil is evil! We must get rid of it! All of it!

The nukes come next, I think.
Posted by Dron66046 2022-07-27 06:40||   2022-07-27 06:40|| Front Page Top

#9 

The WH administration controllers decided Biden would sell 1 million barrels of oil per day from the reserve for the next 180 days. Which is about 25% of the total SPR

Depending on the time of year, the United States consumes between 18.6 and 20.1 million barrels of oil daily.

In 2021-22 oil production in the USA was about 16.6 million barrels per day.

Lower end Math Spring/Summer:
18.6 Used - 16.6 produced = -2 Million barrels of Oil short.

Higher End Math this winter:
20.1 Used - 16.6 produced = - 3.5 Million barrels of Oil short.

Supply and demand kicks in, prices go to hell in a hand basket. Fixed income people freeze.

NOTE:
Approximately 60% of the SPR crude oil in the reserve is the less desirable sour (high sulfur content) variety. High-sulfur crude oils produce greater emissions, particularly those emissions that are toxic and have a high global warming potential.

SUMMARY
So Biden's handlers, claiming to protect the environment, caused massive supply and demand shortages. Then turned around, sold SPR High sulfur based oil that causes serious environmental issues.
Posted by NN2N1 2022-07-27 06:56||   2022-07-27 06:56|| Front Page Top

#10 It's a variation on the advice about watching the magician's hands: "Don't look at what we are actually doing, listen to what we say we are doing."
Posted by M. Murcek 2022-07-27 06:59||   2022-07-27 06:59|| Front Page Top

#11 With a looming potential confrontation with the Chinese, Russians, or a threat to be named later, is this prudent Jojo?
Sarc Off/
Posted by NoMoreBS 2022-07-27 14:08||   2022-07-27 14:08|| Front Page Top

#12 - Deplete the reserves
- Crises
- Declaration all domestic product to
military/reserves
- Gasoline prices explode, or it straight
disappears
- 2 weeks to flatten the curve
- Some industries deemed 'vital to solving the
emergency' will get first in line for gasoline
rations.
Posted by swksvolFF 2022-07-27 14:17||   2022-07-27 14:17|| Front Page Top

#13 
Posted by Skidmark 2022-07-27 15:22||   2022-07-27 15:22|| Front Page Top

23:50 SteveS
23:39 trailing wife
23:34 trailing wife
22:42 SteveS
22:37 Cletle Shinese1880
22:35 SteveS
22:31 ACA JOE
22:18 ACA JOE
22:12 ACA JOE
22:04 ACA JOE
21:09 Besoeker
21:04 magpie
20:47 Frank G
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19:07 ACA JOE
19:06 CrazyFool
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19:01 Raj
18:59 CrazyFool
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