$6.00 gas?

Post by **Bubba** » Jun 12th, '22, 09:21

Try something less biased

https://www.businessinsider.com/why-gas ... age-2022-6

throbster · Post by **throbster** » Jul 5th, '22, 15:18

America Last Sleepy, sent 5,000,000 barrels of oil from our strategic reserves to Europe and parts of Asia. WTF?

https://news.yahoo.com/oil-u-reserves-h ... 38513.html

Heywood jablowmee · Post by **Heywood jablowmee** » Jul 5th, '22, 15:34

Yahoo News.....let the audible chuckles begin......

throbster · Post by **throbster** » Jul 5th, '22, 21:11

Heywood jablowmee wrote: ↑Jul 5th, '22, 15:34 Yahoo News.....let the audible chuckles begin......

Try to make sense, Craven. Other news sources have the same story. Bottom line: Biden is an idiot.

Heywood jablowmee · Post by **Heywood jablowmee** » Jul 6th, '22, 07:11

Craven?..Craven Morehead?

throbster · Post by **throbster** » Jul 6th, '22, 13:35

Heywood jablowmee wrote: ↑Jul 6th, '22, 07:11 Craven?..Craven Morehead?

Yes, cousin of Hugh Jorgan, Pat McCrotch, and Phil McCraken. Not to be confused with Dick Hertz from Holden.

Heywood jablowmee · Post by **Heywood jablowmee** » Jul 6th, '22, 14:11

Nice to know....9th Grade served you well....

Heywood jablowmee · Post by **Heywood jablowmee** » Jul 6th, '22, 14:12

.......................yours truly........

throbster · Post by **throbster** » Jul 7th, '22, 08:24

Heywood jablowmee wrote: ↑Jul 6th, '22, 14:11 Nice to know....9th Grade served you well....

Pot meet kettle. Humpty.

Heywood jablowmee · Post by **Heywood jablowmee** » Jul 7th, '22, 08:34

Try your ever present 8 Ball....again...

throbster · Post by **throbster** » Jul 8th, '22, 12:45

Sleepy sold nearly a million barrels of our country's oil reserves in the middle of a massive energy crisis to a Chinese company his son's private equity firm owns a massive stake in.

And Democrats impeached President Trump over a phone call.

easyrider16 · Post by **easyrider16** » Jul 12th, '22, 07:57

This one almost got me. I read an article on Fox Business news about Biden selling oil to a Hunter-linked Chinese firm and thought, wow, maybe Biden is corrupt after all. Then I fact-checked it with some quick googling and low and behold, the story was total bullsh!t. Fox news has unfortunately become a very suspect source.

Critics, including conservative media outlets, attacked President Joe Biden for selling oil from the Strategic Petroleum Reserve to a Chinese-owned company. Some of the coverage implies a connection between the sales and Chinese investments linked to Biden’s son, Hunter.

Experts in the international oil markets, however, told PolitiFact that the sales were governed by U.S. law, and they see no way that the Biden family could have influenced or benefited from the sales.

"It’s a political talking point, and a ridiculous one," said Patrick De Haan, a vice president with GasBuddy, which tracks gasoline prices.

Experts said it’s reasonable to ask why, if the U.S. is trying to lower prices at the pump back home, it would sell oil to overseas companies. But these experts offered a straightforward answer: That’s the law, and that’s how the international oil market works.

De Haan compared the longstanding Strategic Petroleum Reserve process to an "eBay auction for crude oil."

When an administration orders the release of oil from the Strategic Petroleum Reserve, "the Department of Energy puts out a notice of sale that alerts companies that oil will be made available for purchase," said Hugh Daigle, a professor in the University of Texas-Austin Department of Petroleum and Geosystems Engineering. "Companies then bid competitively on the oil, and the winning bidders receive the oil and the bid price." The winning company works out with the Energy Department when and how it will take possession of the oil.

Sometimes the winning bidders may be U.S. refiners, Daigle said, in which case the oil quickly boosts U.S. gasoline supplies. But in other cases, he said, foreign companies win the bid. This increases the supply of global crude oil and, eventually, helps lower prices in the United States.

https://www.politifact.com/article/2022 ... ve-answer/

TL;DR version: The right wing media is spinning yet another yarn, this time accusing Biden of selling strategic oil to a Hunter-linked firm in China. But apparently Hunter has been ousted from the company for years now, the company involved won an open bid, and no one sees how Biden's family could have caused the company to be the winning bidder or benefited from the sale.

BTW the title of this thread has not aged well.

XtremeJibber2001 · Post by **XtremeJibber2001** » Jul 12th, '22, 08:08

easyrider16 wrote: ↑Jul 12th, '22, 07:57TL;DR version: The right wing media is spinning yet another yarn, this time accusing Biden of selling strategic oil to a Hunter-linked firm in China. But apparently Hunter has been ousted from the company for years now, the company involved won an open bid, and no one sees how Biden's family could have caused the company to be the winning bidder or benefited from the sale.

I'll preface this by saying I know very little about oil/gas or energy policy.

My understanding is we're not seeing a Gasoline/Oil shortage in the USA (e.g., not an energy crisis). The intent of releasing oil from the reserve is to increase overall supply, which should bring prices down. If this is the intent, it matters little who buys the oil from us. However, couldn't the US block ex-US entities from purchasing this gas?

For what it's worth, we're seeing gas prices on a downward trend. While I think we'll see June CPI aligned with May, perhaps we'll start seeing CPI on downward trend as well. Guess we'll see where July CPI shows.

easyrider16 · Post by **easyrider16** » Aug 9th, '22, 20:48

Paid under $4 a gallon for gas today. If Biden was responsible for rising prices, is he responsible for falling prices?

Fancypants · Post by **Fancypants** » Aug 9th, '22, 21:07

easyrider16 wrote: ↑Aug 9th, '22, 20:48 Paid under $4 a gallon for gas today. If Biden was responsible for rising prices, is he responsible for falling prices?

Certainly not by the constant release of fuel from the strategic reserves. How much do we have left?

KillingtonZone.com

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