gfm7175
Mega MAGA
It is a stockpile of oil that is meant to be used in emergencies (such as war time), hence a "safety net". It is not meant to be squandered away for perceived political gain.
Domestic oil production booming under Biden
- Thread starter Cypress
- Start date
Not a safety net, quite literally a "STRATEGIC RESERVE"
And Biden strategically released enough oil from the reserve to lower gas prices AND net a profit to the US of $4B.
And also, you created a paradox of your own, dipshit...you can't argue that Biden depleted the strategic reserve but also argue that what he released wasn't significant enough to affect the gas prices (even though it was and it did).
So you ran into another paradox you created thanks to your dissonance, disbelief in yourself, and your own big mouth.
Well, you don't really believe it so it's gonna come off as disingenuous, like most of what you post here.
All talk, no action.
Yes, he did. It's right there in the article. It even tells you how he did it. He sold oil off when it was at its highest. Doing so increased the supply, lowering gas prices, and making your lying head explode.
Right, and it was sold at high prices...netting a profit.
Sold to domestic producers, so only Americans got access to it.
That's what the strategic reserve is for.
Matt Dillon
Semolina comes from wheat
Yeah, no. Also I'm done dealing with your stupidity.
Fuck off, you're a waste of oxygen and my time.
But it's a strategic reserve, so it doesn't have a balance it needs to maintain.
You would know that if you had any clue what you were talking about and weren't just saying random shit.
But there is still oil in the strategic reserve, so what are you complaining about? Lower gas prices...that's what you're complaining about here.
It's not a safety net, it's a strategic reserve...and Biden strategically released those reserves to US producers and consumers in order to lower energy prices...WHICH HE DID.
What else is the strategic reserve there for?
They don't.
Every single oil company constrains its supply in order to achieve the highest possible profit margins.
Nothing. Else. Matters.
Why do you think they cut production or don't drill on the 1000's of leases they have? Because they make the most money when oil is at its highest price. And oil is at its highest price when the supply is at its lowest.
Again, I should be getting paid for teaching you the basics of capitalism.
They don't stop doing it.
Never.
Again, all oil companies only extract and produce the exact amount of oil that is necessary to achieve the highest profit margin.
The end.
Price gouging for oil is decreasing production in order to decrease supply and increase the price.
Again, I should be getting paid for teaching you this.
It was $4.69 in May, now it's $3.28.
That is a 30% decline.
Well maybe you and Trump should have shut your fucking mouths about COVID and let the pros handle it.
But you couldn't control yourself, so we got a pandemic.
So you have no one to blame but yourself.
Matt Dillon
Semolina comes from wheat
A pandemic is an emergency.
And the oil that was released from the reserve was only accessible by Americans and American refineries.
So the strategic reserve was quite literally strategically released.
Really? Where is that written?
Why do you think releasing oil to American consumers and refineries is squandering it?
gfm7175
Mega MAGA
RAAA.
There's no paradox.
One million barrels of oil per day (what was released) is a miniscule percentage of oil compared to what gets used per day.
Releasing ~200M barrels of oil from the strategic reserve is a large percentage of the total oil contained within the reserve.
That's two different truths about two different things. There is no paradox.
What a goddamned fucking crybaby you are.
Just a fucking loser wrapped in a whiner, posturing as a loudmouth dipshit.
I don't expect much more out of you anyway, and neither does anyone else.