Apparently the people behind Joe Biden realize the ridiculous prices at the gas pump are going to be a major political issue for them in the next election. As a result, they have decided to release 50 million barrels of oil from the strategic petroleum reserve (SPR), enough for approximately 3 days of demand. [Announcement Here]
The strategic reserve is intended as an emergency supply in the event of war or national crisis that demands we have some insurance measures to protect ourselves. The SPR is the world’s largest supply of emergency crude oil, and the oil stocks are stored in underground salt caverns at four storage sites in Texas and Louisiana.
The oil in the strategic oil reserve was previously paid for by taxpayers. What Biden is doing right now is giving reserve oil to energy companies who then turn around and refine it into gasoline for taxpayers to purchase. We get to buy it twice, and Biden wants to be thanked for doing it.
The Biden administration is going to lower gas prices for taxpayers by allowing taxpayers to purchase their own oil. Brilliant!
In related news, the Biden administration also held a call today [LINK] to announce their plan to ease inflation by printing more money.
“I know Scout,… I know buddy”… “I know”…
The oil reserves that Trump topped off when oil was cheap?
The nerve of that China Joe guy.
FJB
Biden’s selling our reserves to Asia now.
Everything they’ve done is outright treason. Destroy America under the Presidential Seal, COmplete FUBAR
I don’t know much about your culture, but I remember back in the 90s, there used to be these so-called ‘militias’ (paramilitary groups, of sorts) that were ready to step in, in the case of this kind of treason by the government against You the people. They were rumoured to be holed up in Montana and places like that. Where are they now? Did they get banned, and disbanded, at some point?
Nobody like that up here in Montana 😉
Biden told them they needed F-15s and nuclear weapons so they have to wait til they get some.
If you had nukes you could take out FBI domestic terrorist training camps and combat areas of high gun violence. I am not sure what the value of F-15’s would be though.
I ‘ve got a freighter from Afghanistan stuck in the Pacific Ocean full of f15 s used of course.
Isn’t Montana where FJB sent the unvetted Afghanis?
Their were a few. The press found the whacked ones to highlight and Reno’s DOJ and ATF went after them hard.
I remember reading about a few of them from 1776 that were somewhat effective.
Historically speaking, the militias are directly mentioned in the 2nd amendment to the constitution. If you are an American citizen, you are “at least” a member of the unorganized militia by being a US citizen.
If you are male between 18 and 45 years, you are theoretically a member of the organized militia although the Dick Act tried to formalize the organized State Militias under the State National Guard which has became voluntary versus required.
While there remain those that try to remove 2A, individual rights to own and bear arms, eliminate State Militias and remove the ability to limit the rise of tyranny like all despots and despotic regimes throughout history have done; one must remember that our US constitution was only ratified with 2A included. To remove and limit 2A’s right to oppose a tyrannical government, domestic enemies and foreign invaders basically eliminates the original ratification to form Our Republic. It’s the glue that keeps the Tyrants and their misinformed supporters at bay.
So the Militia still exists within every citizen today with the same responsibility to defend the Constitution against all enemies foreign and domestic. If you haven’t noticed, there are many domestic enemies working to usurp our Constitutional Republic, our rule of law and our unalienable rights.
Great response. Thank you.
Yep.
Is he selling it to Asian countries or giving it to them? If he’s selling it, what price is he charging them and where exactly is the money going?
And what’s more important, does he not understand that the purpose of the Strategic Petroleum Reserve is for when the UNITED STATES OF AMERICA has an emergency need!?!
Hasn’t he done enough to deplete our energy supply with shutting down pipelines, drilling sites, leases, and new refineries?
He’s a stumbling, mumbling, shuffling disaster!
FJB is following the CCP plan exactly.
“Asia?” You misspelled “China.”
Yes, I have read that he’s selling it to China. No doubt he’s selling it at cut-rate prices.
I think your right..we sell them discounted oil..and they buy inflated Hunter Biden paintings.
Yeah, the ONLY bright spot in this story, is “we” were almost paid to take it, it was so cheap.
And now lets watch and see, how much a 3 day supply, actually changes the price.
I doubt there is even a blip; prices are high, because Bidenistas made good, on their promise to declare war on petroleum, and taking measures starting on day one, to carry out that war.
Releasing these reserves will have NO effect, I predict. May even make prices go higher, as it highlights the consequences of their rediculous policies.
Print MORE $, to fight inflation.
“Order” ports in Cal to work 24/7, when there are no trucks to load the containers on to, nor way to get rid of the unloaded containers, to free up the few trucks that are less than 3 years old.
Mandate masks, which don’t work, and a vaccine, that also doesn’t work, to address another problem THEY created.
And push CRT, to address a non-existent problem, ditto GND and CC.
I guess they get a “C” for Consistency, and an “A” for demonstrating WHY Big Government is inherently BAD.
If I can simplify, this adminstration is trolling us and rubbing its s..tt in our faces in Thanksgiving week
yep, genious play by someone wanting to kneel America.
when we purchase this oil back to fill the “emergency” reserve it will cost well over triple.
?
Analysts say that a sudden release like this (50MM barrels) injected into the normal inbound flow will temporarily depress prices because you force an increase of the supply to the refineries.
A refinery can only process so many barrels a day, and the excess has to sit and wait to be processed. So, the inbound that would have been processed is no longer in demand. In a spot market like oil, when demand drops, prices drop. So the wholesale price of oil will go down, and politicians will pat themselves on the back.
Gasoline, on the other hand, has a different demand factor. People still want to travel for the holidays, and many will go by car instead of dealing with the hassles of TSA and COVID flight restrictions. Plus, you have all the different seasonal environmental restrictions on fuel additives; I didn’t see anything about increasing those supplies. High demand means high prices for consumers.
So, do not expect relief at the pump until travel is opened up and the public realizes that COVID was over and demands emergency powers to end.
Look at these govt stats on Retail sales and tell me where this demand is.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=A103600001&f=M
Huge drop in sales and gallons, huge. Look at the historical data under the line chart. This is an unprecedeted DROP in demand. Yet prices kept rising.
If anyone has an answer would like for an explanation.
President Trump replenished that reserve for pennies on the dollar. When these A-holes try and refill it, they’ll be paying up the ying yang (as Rush would say…”A little bit of Chinese lingo there”).
Why do you think they claim it’s racist to teach math in schools?
So because as a kid, I could add 1 + 1 and come up with the answer 2. Or 4 x 71 and come up with 284…oops I was wrong, should have been 1013, and today’s teachers would have given me a gold star for at least trying and showing how I got to that sum.
Well, okay, it will be kids like that who won’t get nuclear plant jobs! ?♂️
The local QT dropped it price from 3.40 a gallon to 3.39.
How will I spend or save my 18 cents per tank. Uncle Joe allowed me to save.
Decisions , decisions.
Add that to the 16 cents you saved on your BBQ last Independence Day
and you’ll be able to retire soon 🙂
And maybe now get that little place in the country!
?
Man, between that and the money you saved on hot dogs back on July 4th, you could buy half an apple and make a wee little pie for Thanksgiving.
US energy producers are nationalized? might need to view direct sells.
God help us all
God helps those who help themselves.
Brandon helps himself.
This is true.
God will help those who use some common sense and make wise decisions.
Lol!!! This guy is definitely outta control!!
No.
Those behind the scenes that have total control over him are out of control.
sometimes you got to have the mascots fight
Doesn’t make any sense.
It won’t add to the supply of fuel available.
Since the refineries can only switch supply sources and is limited as to how much gas it can produce per day.
This will just cripple our military if it has to rely on it in an emergency though.
Not to mention that last month, Biden literally sent a bunch of oil from the Strategic Petroleum Reserve to China.
I remember once being told it was heavy crude that had to be cut with light.
Don’t think so. ALmost all US refineries are configured to process light sweet crude. Sour heavy crude is a complete different “cracking” process. We import a huge amount of gasoline from overseas refineries.
Fuel gasoline market is not what most think. Look at a price barrel in daily oil price chart. You will see Light sweet price etc. People have stopped the building of new refiniries to process the heavy sour crude.
We built many refiniers when the light sweet was plentiful. Those days are gone. We are sucking up heavy. Saudi used to pump almost all sweet, now, it is heavy and all that sulfur has to be removed. There are mountains of sulphur, and it is growing each day.
Mountains of Sulphur being available may in part explain a harebrained scheme to inject it into the atmosphere to combat climate change.
https://wattsupwiththat.com/2021/11/22/scientists-notice-nightmare-sulphur-injection-geoengineering-plan-might-cause-problems/
Hey imbecile, you don’t deserve to be thanked. You’re not the real president, so do us all a favor and go f**k yourself.
Sundance, in fairness, it’s sold from the SPR, so the taxpayers get cash for what they already spent.
Now, the funny money starts, because now the Treasury has unappropriated cash that it can spend however it wants outside a Congressional authorization. But the bottom line is that the oil is sold, not given away.
Yes, it’s sold back to us at gas stations. Gas that was purchased with our tax money. So we are in affect, paying for it twice.
No. The oil company that refined the crude oil into gasoline would have bought the crude oil somewhere anyway. You would have paid for it anyway, no matter where it was bought.
Trump administration buys a barrel of crude oil for the SPR from Exxon at $60. Biden administration sells the barrel of oil at $80 to Exxon for a profit of $20. The government started with no crude oil and ended with no crude oil plus $20. Exxon started with a barrel of oil and $20 and ended with a barrel of oil. If Exxon had taken that barrel and made it into gasoline without ever involving the government sale and purchase, it would have been no different.
The point is that those barrels were purchased with Americans tax money. It doesn’t matter if an oil would have purchased it elsewhere. Of course Americans would buy gasoline. What he’s saying is this is already purchased oil. With our tax dollars. And then as individuals we pay again at the pump, for oil (now refined into gas) that was purchased with American tax dollars.
And I agree, the government will make money on the sale of the oil, if they sell it for more than they paid, which I’m sure they did since PDJT bought it when oil was cheap.
In Fairness….WTF
got to wonder why people critique the producers (content, information, etc) right..
why do they feel the need to..
Because he said we already paid for it, implying that we were giving it away. Since the Trump administration bought it when prices were low, then the Biden-Harris administration likely made a profit to the Treasury from selling it when prices are high. Not that I think it’s a good idea to sell it (it’s not, the SPR has a serious purpose), but we, the taxpayers, did not lose money on the deal.
“Treasury has unappropriated cash that it can spend however it wants outside a Congressional authorization” ….. very interesting, something I was not aware of.
So how much are they going to end up with and how can we track how it’s spent?
What are they pricing the barrels at that they sell to gas companies? Multiply that by 50 mil.
There are huge amounts of nonappropriated funds sloshing around the departments. There is very little oversight how they are spent.
Golly Gee, Brandon! I am simply overwhelmed by your generosity and brilliant strategic planning. I’d call you a douche nozzle, but I forgot how to spell douche.
I love the headlines Sundance comes up with – excellent job. I’m not going to comment on the story because I’m tired of the idiocy perpetrated by this illegitimate government.
Biden has been shipping oil from our strategic reserves to China for several weeks as reported by the True Pundit guys. A tanker just left a few days ago.
because Dark Winter is coming.
his Helping, is to empty those now, so we have to Helped by our enemies (that will gladly sledgehammer us)
This won’t do a darn thing to lower pump prices.
but it will provide cover for his emptying of those reserves already – to other countries.
goal = make us dependent so he can say I Cant Do Anything We Depend On Opec.
This is Jim Crow Joe’s half-assed countermeasure to My Governor DeSantis suspending the State gas tax of .25 cents a gallon indefinitely.
He could just reinstate all the Trump policies he’s cancelled … but that’d go against his Hate America philosophy and his get-rich-quick scheme with his China buddies.
Globe First.
A judge pretty much put a stop it to a few months ago.
https://mustreadalaska.com/breaking-federal-judge-stops-biden-from-blocking-alaska-oil-and-leases/
And other States if you read the article. States would suffer irreparable harm if Bidens dictates were allowed
Reminds me of the story of Joseph interpreting the Pharoah’s dreams predicting seven years of plenty followed by seven years of famine.
Step 1: Over-tax the Egyptian farmers’ harvests for 7 years (wise move)
Step 2: Charge the same farmers for return of their grain from government storehouses (shady move)
Step 2a: Commence selling grain from the storehouses to his brothers at below market prices.
Step 3: Demand that farmers sell their livestock in return for grain from storehouses (bad move)
Step 3a: Continue selling grain to his brothers at below market prices. Let them keep their livestock.
Step 4: Demand that farmers sell their farms in return for grain from the storehouses (evil move)
Step 4a: Continue selling grain to his brothers at below market prices. Let them keep their land.
Next chapter:
All of a sudden, for no reason at all, we find that the Hebrews are enslaved in Egypt.
Pretty sorry when your own government double dips on you in order to continue bad policy. Double dipping is what people do when they don’t respect the people behind them. Quite the quagmire too; the current imposter is having to pretend that Trump’s energy policies were bad, even when the policy’s resurrection offer the only available redemption. Sad. That which he don’t, he does and that which he does, he don’t.
?
I can only WISH I could buy 25 gallons for $77.00 !!!!!!
Let’s face it, Obama bought a long time ago Professor Gruber’s rule about the American people being too stupid. Brandon just reads whatever script is put front of his ice cream cone.
Americans are starting to see. Its just we cant do anything without addressing 2020.
What else can we expect from a group who removed the military BEFORE anyone else in Afghanistan and gifted our enemies with 68 billion of our war machines? The stupidity and/or audacity of these people is breathtaking. Now we find out – no surprise because it was obvious something was up – that Hunter helped China with a deal with African cobalt mines for EV’s so the entire US is now supposed to go EV – you know – those things that catch on fire QUICKLY and burn so hot the fire is hard to put out. But what does it matter to “10% for the big guy”?
Dad takes half of everything
My Dachshund gives me that look every now and then whenever she hears a democrat speak.
Don t let you dog get that close. He might catch something.
She sits on the couch in my den with me when I am on my laptop. She loves CTH, by the way.
When you get into the weeds of the announcement you see the following:
-18 mil bar were already slated to be released authorised by Congress back in 2017 & 2019. This won’t be sold until Dec 17th ….
-32 mil bar are ONLY a SWAP to be returned. You see Old Joe cannot unilaterally release shinola, only Congress, but he can authorize a SWAP.
-The pick-up locations indicate mostly sour crude. This either needs to be blended with sweet WTI crude or hydro-treated. Hydro-treating is already at 85/90% capacity, blending WTI drives that price up, most likely for export. I would suspect to our best buds China.
-This is essentially a BS PR announcement that actually may drive Jan/Mar Oil much much higher and so goes our refined products such as gasoline.
Competence and honesty is a thing of the past.
Thank you for explaining the 32 million barrels, I read it but did not understand what they meant. They swap it out now, hoping oil prices go down. If not, it could cost us much more in the long run.
This is a Global coordinated effort with China, Japan, India and South Korea. Are all US releases going to US refineries for US consumption?
As Brandon explained, it is Economics 101, as if the oil market is so simple. So using that basic 101 supply/demand model, that total supply or the daily rate of oil production for the world is around 80 million barrels per day. If supply is increased by a one time fixed amount, there might be a temporary drop in price but it could immediately be met by a temporary reduction in production, leaving us at exactly the same point in supply/demand and the same price we are currently seeing. More important to note, that 101 model is about a pure free market with ample competition so the market determines the pricing. In the case of oil, the model is affected by monopolies who can easily control supply so to control the price.
So when Brandon made his announcement of use of the SPRs, the market saw an increase in the futures prices of crude. From what I am reading this morning, that increase is because it is anticipated that OPEC will respond by cutting production at its meeting on Dec. 2 to counter the effect of using reserves.
Thus the net effect will be that we have used up some of our strategic reserves that will have to be ultimately replaced, most likely at far higher prices. Meanwhile, Brandon will continue to bankrupt our oil companies ensuring exhorbitant prices for consumers to the point that we are returned to a third world nation.
Sleepy’s administration has so many great ideas that he going to be on the Shart Tank.
Well that all depends.
he is brilliant in aiding Amazon Trucks to replace the “unreliable trucking industry” he savagely decimated.
The US consumes 20 million barrels of oil a day. Give it until noon tomorrow.
Bidets plan didnt work anyway.
‘Oil prices rose above $82 a barrel on Tuesday morning after the Biden administration announced the U.S. and other nations would release tens of millions of barrels of oil from reserves in a ploy to lower prices.’
https://www.breitbart.com/economy/2021/11/23/reserve-release-backfires/
And yet 35% of the population will still vote democrat
All 81 million dead or alive.
Wait a minute – Catturd is Sundance? This picture is from Catturds Twitter account and his dog smiles!
I noticed that too.
I would not be surprised. Catturd is great –
Let’s see . . . printing too much money has caused inflation, so let’s print more!
That’s not a plan for success. That’s a strategy to win a war, their war on the United States.
as of this writing there are 129 comments, but only one is necessary
FJB
JoeBama is easy to figure out. Like his mentor the brown clown he does the exact opposite of what a sane person would do.
Thank you Big Guy, Mr 10%
Trading Places – Five Dollar “Christmas Bonus” – YouTube
Sundance, I am a tad surprised at you! Our beneficent overlords give us the opportunity to twice buy gas, while earlier allowing us to gather in person for the most expensive Thanksgiving in history and you sound cynical and not the least grateful for the freedoms that they provide us.
Jesse Kelly is right… we’re going to lose a major war.
technically we are going to be able to say “sorry we can’t fight cause we have to many problems with energy and inflation” so maybe next time we will stop China when they pull in a country, or Russia when they pull in a country.
I guess China is all filled up now so we surfs are allowed to use some.
FJB
NO MERCY!
Brother to brother:
Semper Fi.
We must not forget:
♦️Adapt
♦️Improvise
♦️Overcome
But as another motto besides feet in the mud…
I think your “NO MERCY”
Should rank right up there with the others, but you already know that is built into the heart of every Marine, especially Recon.
Thank you for your service!
I figure you have seen this, but watch it again and enjoy!
I don’t think oil in the SPR is going to do anything for gas in the east or west, unless it causes a reduction in foreign crude prices for oil destined to those coasts.
Correct me if I am wrong…….but if we had it today it would all be used by Saturday….Right?
Yep I figure it will have an effect!…LOL
This guy is one sick puppy along with the rest of his administration. Where are the Republicans? Why are they not demanding a hearing on the Jan 6th 2nd murder of another woman that was kept from us? When is KARMA going to get these corrupt usurpers in the White House
It was in the Japanese news yeaterday that Biden is putting pressure on the Japanese to release their oil reserves.
Let’s see if they fold to the puppet gov’t.
Aww, there’s Catturd’s dog, Smiles!! Best side-eye ever.
SCOUT IS CORRECT!!
Joe Biden is an ASSHAT
The best part is that when gas prices continue to rise, we will all be told it’s not real and that we should really just walk anyway.
Either they are utterly incompetent on every subject
Bllined by ideology
Or actively trying to crush the US
My vote is for all 3
It is clearly a move from a bunch of people who have no idea, how markets work, how oil production and refining work,or that aprice drop (if any) will last more than a pittance.
I wonder if the month or two delay of any price change will confuse them? The cynical part of me thinks that they know that will have a negligible affect on cost, but they will try to come the normal drop in gas prices in winter as a victory.
Joe Biden Addresses High Gas Prices: Americans Can Save Money if They Buy Electric Cars
FTA: “For the hundreds of thousands of folks who bought one of those electric cars, they’re going to save $800 to $1000 in fuel costs this year,” Biden said, referring to the $112,595 electric Hummer pickup he test drove at a General Motors factory in Detroit earlier this month.
OK, genius. And for the millions of us Americans who park on the street, or in parking lots of our apartment or condo buildings that do not have an electrical outlet at each parking space, how in the world are we supposed to CHARGE the damn things for 8 hours? And even if overnight ALL those street spaces and parking lot spaces grew electric outlets by a wave of the magic fairy’s magic wand, where in the world is all that additional electricity to charge them going to come from when our power grid is already stretched thin?
https://www.breitbart.com/politics/2021/11/23/joe-biden-addresses-high-gas-prices-americans-can-save-money-if-they-buy-electric-cars/
According to his Press Secretary Biden is using every tool in his tool box to lower the prices that we’re solely caused by the once in a lifetime pandemic. I suppose it’s too much to expect the media ask if Tool 1 – opening the pipeline and Tool 2- increasing drilling leases on Fed property – did these two tools fall out of his tool box. Perhaps he should call Trump and ask to borrow his tools because Trump has us in a net exporting situation.
…where are the highly trained Bob Lee Swagger’s to encourage early retirement from those ilk’s in congress…
We need to take all Federal lands and give back to the states to do whats best with their land. Reduce the Federal government to life and death departments or essential departments. Give the power to each state not to federal bureaucracy. This will produce less taxes give each state to become productive and build a more profitable society. The Federal government is a burden on the citizens back. The power needs to be given to citizens not Federal taxes and taking money from the tax payers and giving to out side foreign sources. like ILLEGAL Immigrant. Shut down domestic terrorist by closing the FBI. Audit all government departments close all nonessential government departments. Close NASA, NSA, FBI, CDC, FDA the list is long. They are stealing our money and using the money to destroy us for personal gain.
PDJT filled to capacity and expanded that reserve when got it virtually free, at record LOW prices he caused himself.
FJB is selling it BACK to we Citizens at record HIGH prices, which he caused himself.
Buy low- sell high. Demonrat brilliance.
If Biden had the balls that Trump has, he’d be down on the docks right now asking those guys to put in a little overtime to help out. My guess is they would do it. But Brandon “ordering” anything is a waste of time. If I was a dock worker I’d tell him to put his “order” where the sun don’t shine
“The President is taking action on both fronts and is committed to using every tool as needed.“
Brave Sir Robinette has no shortage of “tools” who are willing to support his efforts.
That said, fighting simultaneously on the Eastern Front and Western Front will require the Minister of Propaganda to demand reasonable sacrifices: rationing of meat, gasoline and chocobars..
listen to the IDIOT energy Czar. she can’t figure out why historical prices don’t match todays.
Watership down.
Scout!