Donate Bitcoin

Donate Paypal


PeakOil is You

PeakOil is You

Should this site be shut down?

General discussions of the systemic, societal and civilisational effects of depletion.

Re: Should this site be shut down?

Unread postby Plantagenet » Sat 07 May 2022, 13:40:21

Biden administration announces clever plan to boost US oil production by buying oil to refill the strategic petroleum reserve after they sold the oil in the SPR

US aims to spur oil production by refilling emergency crude stockpile

The Biden administration has been selling oil from the Strategic Petroleum Reserve for months in an attempt to lower gasoline prices and boost Biden's poll numbers . This is a monumentally stupid idea because (1) its against the law to use oil from the SPR to lower gasoline prices and/or boost a President's poll numbers. By law, the SPR is designated for the sole purpose of relieving oil shortages and supply disruptions (2) The US can't control oil prices with release from the SPR because the global oil market is too big and (3) After months of sales, the oil price hasn't gone down as the Biden administration promised, so the whole program has obviously failed.

With the failure of its program to lower oil prices now clear to all, the Biden administration is now claiming that by selling off oil from the SPR they now can boost US oil production by buying the oil back to refill the SPR after they sold off the oil.

If the Biden administration is right, then they have the answer to peak oil. If the Biden people can make US oil production go up by buying oil to refill the SPR, then all they have to do is sell off the oil in the SPR and then rebuy the oil to refill the SPR and oil production will go up, i.e. we'll never reach peak oil.

Hoo-RAY!!!! The Biden administration has done it again!

Image
More orders from the Biden administration! Get out there and increase oil production NOW!!!!!

Cheers!
250 million thousand people have died of covid---Joe Biden
Never underestimate the ability of Joe Biden to f#@% things up---Barack Obama

-----------------------------------------------------------
Keep running between the raindrops.
User avatar
Plantagenet
Expert
Expert
 
Posts: 25370
Joined: Mon 09 Apr 2007, 03:00:00
Location: Alaska (its much bigger than Texas).

Re: Should this site be shut down?

Unread postby AdamB » Sat 07 May 2022, 16:25:41

Plantagenet wrote:Hoo-RAY!!!! The Biden administration has done it again!


You've got this one right, it is one of the dumber things a President has done. But not the worst. So far this is what we've got for that.

Image
StarvingPuutyTat says: I'm so confident in my TOTAL COLLAPSE is IMMINENT prediction that I stake my entire reputation on it. It will happen this year. - Aug 3-2020

Mustang19 says: Mods, I am just here to troll the trolls. I mean no harm.
User avatar
AdamB
Volunteer
Volunteer
 
Posts: 7446
Joined: Mon 28 Dec 2015, 17:10:26

Re: Should this site be shut down?

Unread postby Doly » Sat 07 May 2022, 17:02:33

its against the law to use oil from the SPR to lower gasoline prices and/or boost a President's poll numbers. By law, the SPR is designated for the sole purpose of relieving oil shortages and supply disruptions


Well, the difference between lowering gasoline prices and relieving oil shortages is mostly academic, I think. Since gasoline prices go up when there is an oil shortage. So Biden can legitimately say that the SPR was used for its purpose.
User avatar
Doly
Expert
Expert
 
Posts: 4146
Joined: Fri 03 Dec 2004, 04:00:00

Re: Should this site be shut down?

Unread postby Plantagenet » Sat 07 May 2022, 19:11:04

Doly wrote: the difference between lowering gasoline prices and relieving oil shortages is mostly academic, I think.


So you support using the SPR to try to lower gasoline prices at the pump in the US right now, even though there is no gasoline shortage?

Why, exactly?

Image

Given that just about everything is inflating in price right now, it seems kind of silly for the Biden administration to imagine that gasoline wouldn't increase in price as well.....particulary when the price of gasoline has gone up anyway even after the Biden administration started selling off the SPR.

Another curious aspect of this is that the Bidenistas themselves seem to believe that by selling oil from the SPR they may have caused US frackers to hold back on increasing their own oil production.....hence the curious announcement that the Biden administration thinks they can convince frackers to increase domestic US oil production if they begin buying huge amounts of oil for the SPR to replace the huge amounts of oil they just sold from the SPR......

Cheers!
250 million thousand people have died of covid---Joe Biden
Never underestimate the ability of Joe Biden to f#@% things up---Barack Obama

-----------------------------------------------------------
Keep running between the raindrops.
User avatar
Plantagenet
Expert
Expert
 
Posts: 25370
Joined: Mon 09 Apr 2007, 03:00:00
Location: Alaska (its much bigger than Texas).

Previous

Return to Peak Oil Discussion

Who is online

Users browsing this forum: No registered users and 10 guests