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Meet America’s Newest Oil Trader Extraordinaire: Joe Biden

Meet America’s Newest Oil Trader Extraordinaire: Joe Biden thumbnail

Head of state. Commander in chief. Oil-trading whale?

President Biden’s unprecedented release of oil from America’s petroleum reserves in 2022 turned the White House into an unusually active player in the volatile crude market. The flood of emergency supplies helped arrest surging oil prices after Russia invaded Ukraine, and pulled billions of dollars into the Energy Department’s coffers in the process.

Oil prices have sputtered since and allowed officials who sold high to start replenishing U.S. stockpiles on the cheap. The question that will echo from Washington to Wall Street in 2024 is how the Biden administration might finish off a trade many investors would envy.

The Energy Department says it has already snapped up about 13.8 million barrels of crude, with accelerating deals in recent weeks signaling the agency could move more aggressively next year.

At an average price of $75.63 a barrel, the purchases so far total a nearly $270 million theoretical discount from last year’s average sale price of $95 a barrel.

The Energy Department will have about $3.45 billion left to buy more oil after those deliveries are complete, a spokeswoman said. That is enough cash for tens of millions more barrels of crude.

The Biden administration’s opportunity to build on its gains could slip away if prices rise. Benchmark U.S. crude changed hands Friday at $71.65 a barrel, well below the administration’s asking price of $79 or lower, even as fallout from the Israel-Hamas war threatens tankers in one of the world’s most important shipping lanes.

Any major ramp-up in deals would come with challenges. It could strain the country’s ability to release emergency supplies, since storage sites can’t accept crude at the same time. The facilities, some of which are currently undergoing maintenance, are also limited in how much they can receive each month.

But some traders and analysts say locking in future purchases at today’s prices could help turn U.S. stockpiles into a force for market stability and expand America’s clout as an energy superpower.

“Even if it’s at a small size, being able to exert that muscle could be very valuable,” said Skanda Amarnath, executive director of the macroeconomic policy think tank Employ America.

The U.S. and other countries began amassing stockpiles in the 1970s, aiming to hold 90 days’ worth of net imports, after the Arab oil embargo sent prices skyrocketing in an inflationary shock to the American economy.

The Strategic Petroleum Reserve peaked in size in 2010 near 727 million barrels, according to the Energy Information Administration. Since then, booming shale output helped the U.S. become the world’s largest oil producer, and officials from both parties pushed to sell off some of the stockpiles to fund other projects.

Biden’s release after Russia’s invasion of Ukraine was the largest ever. Emergency sales of roughly 180 million barrels helped shrink the reserves to as little as 347 million barrels, a 40-year low.

The skyscraper-sized storage caverns in Texas and Louisiana now hold the equivalent of nearly 175 days’ worth of net imports, according to federal record-keepers. Canadian crude has also come to account for far more of the country’s imports, while supplies from the Saudi-led Organization of the Petroleum Exporting Countries and its Russia-led allies have plummeted.

Still, administration officials say they want to refill at least some of the reserves when the price is right.

The strategy has three prongs. The Energy Department has recovered some supplies from crude lent to refiners and returned with a premium this year. Congress also canceled previously scheduled sales totaling about 140 million barrels in exchange for $12.5 billion from the Energy Department’s account, according to the Dallas Fed.

Big purchases on the open market, relatively rare in recent decades, have proven to be the most difficult piece of the puzzle.

The Energy Department’s first attempt at buying oil this year failed. The agency later bumped up its target price from $72 a barrel and revamped its approach to contracts to limit suppliers’ risk while officials evaluated proposals.

The agency’s most recent contract, awarded Dec. 26, scheduled deliveries for March. Officials plan to “purchase as many barrels as possible, while getting the best deal for taxpayers,” a spokeswoman said. Additional monthly solicitations are expected at least through May.

The extension suggests the government is growing more comfortable with deals that have longer time horizons, said Ilia Bouchouev, managing partner of Pentathlon Investments.

If the U.S. is willing to expand that approach, Bouchouev said it could lock in cheaper contracts for deliveries in late 2024 and 2025 and avoid the risk that prices will rise.

“Buy it back at $75 [a barrel], claim victory for the taxpayers and call it done,” he said.

WSJ



288 Comments on "Meet America’s Newest Oil Trader Extraordinaire: Joe Biden"

  1. eee on Thu, 11th Jan 2024 3:31 pm 

    I always hate this negative publicity against fat guy. The new standard of masculinity is a skinny effeminate man with no muscle and a female voice. Jordan Bardella is the new modern masculine man, a gay skinny man without muscle.

    Everything is inverted in this fucking world

  2. eee on Thu, 11th Jan 2024 3:44 pm 

    If you think that GOD will allow that the fat masculine man be replaced by a skinny effeminate man with no muscle and a female voice, you are mistaken.

    If you think that GOD will allow that a creation be made of only féminité and no masculinity, you are mistaken,

  3. eee on Thu, 11th Jan 2024 3:50 pm 

    If you think we will remove man of this size

    https://www.youtube.com/watch?v=4bq73voK5dA

    to replace them with skinny effeminate man with no muscle and a girly voice, you are mistaken.

  4. why elite whitey supertard Elon lies when elite whitey supertard Newton published 1st LAW we have spacecraft and exhaust gas pushes against each in vacuum taken as a whole both physical frame and exhaust entity only elongates on Thu, 11th Jan 2024 3:52 pm 

    ANAL LUBE RUPTURE PROLAPSE TURGID EXTREME BAZZAIRE

  5. eee on Thu, 11th Jan 2024 4:26 pm 

    This is person that has been bothering forever Jordan Bardella. His face is too perfect to be real. He looks like a fake CGI that has been seen to infiltrate France power structure. His face is too perfect to be real.

    3:32 you see what I mean, his face is too perfect. Look like CGI

    https://www.youtube.com/watch?v=2lcSbY-k8A4

  6. eee on Thu, 11th Jan 2024 4:36 pm 

    Something is not right about this cuck sucker of Bardella. It looks like a fake CGI that has been created for mission to take over France power structure. His face is perfect and is seems designed to please low IQ people that chose a candidate base on physical apparences

    This is why planet earth is designed as an execute chamber with all kind of safety.

    We wanted to make sure to kill everyone on planet earth. We have no intention of continuing earth experiment. I don’ know why I am using the plural form we.

  7. eee on Thu, 11th Jan 2024 4:39 pm 

    What I said about Bardella could also be said about Obama, Obama look like a fake CGI that was send to take over the US.

  8. eee on Thu, 11th Jan 2024 4:49 pm 

    I said that many times. they need democracy to invade and control earth. See above. THe worst thing that could happen to them is that a guy similar to me being pushed into power as a King and start clean up shit with gun and bullet.

  9. eee on Thu, 11th Jan 2024 4:56 pm 

    Jordand bardella, another pretty face worshipping the Jews. Just saying. GO watch some of his videos, look like someone that is taking money from the Jews.

  10. eee on Thu, 11th Jan 2024 5:41 pm 

    Is this a real interview or fake CGI created by us.

    https://www.youtube.com/watch?v=M9MoHat3py4

    I will repeat that I am not coming to save Quebec and Canada I want to walk over your deads cadaver for stealing my right to carry a conceal hand gun. Just a reminder because you have a short memory.

    Another thing, I know that I am being manipulated. This will be resolved in private between us bitch.

  11. eee on Thu, 11th Jan 2024 5:46 pm 

    I want to make this clear. I will never come to the rescue of planet earth. The best you will ever get from me, it is shiity comment with full of orthographic mistake.

    Since I receive no compensation, I can stop whenever I want and I can give comment that could stir you in the wrong direcction. No money, no obligation of performenace.

  12. eeee on Thu, 11th Jan 2024 5:57 pm 

    I also know that my whole life is a lie. I know that I am being manipulated. I want to make this clear. I will never come to the rescue of planet earth. The best you will ever get from me, it is shiity comment with full of orthographic mistake.

  13. eee on Thu, 11th Jan 2024 6:07 pm 

    Is this a real interview or fake CGI created by us.

    https://www.youtube.com/watch?v=M9MoHat3py4

    I am asking this question because I know I am being manipulated. Is this a real interview on a tentative of manipulation

  14. eee on Thu, 11th Jan 2024 11:16 pm 

    Another fucking thing, fucking loser. I see you are trying to avoid the thief of natural resources so you can keep the earth alive a lit bit longer. It does not matter, the earth is your execution chamber and we made sur that at some point every one on planet earth will die.

    We design protections inside the reality to make sure that at some point everyone on planet earth will die. Do what you want, to save your life, but it will not work.

  15. eee on Thu, 11th Jan 2024 11:55 pm 

    I see some of you are trying to find where are the tunnels or rail track that will allow you to leave earth. You will not find an exit out of earth. You will die on earth as you are supposed to. We made sure of that with the law of conservation of mass that also applied to natural ressources.

    Youi are here to die pieces of shit, you will fucking die here piece of trash and garbage.

    I will walk over all your cadavers for stealing my right to carry a conceal hand guns.

  16. eee on Fri, 12th Jan 2024 12:11 am 

    Let’s me see if I understand Canada political theater play. You will replace one narcissist effeminate man like Trudeau with another narcissist effeminate man with no muscle like Poilievre .

    Wow I am really impressed. You have an agenda, I don’t know that it is, but I will not be part of it other then writting shiity comments

  17. eee on Fri, 12th Jan 2024 2:56 am 

    They are not racist contrary to me. I will let figure out why they did a video like that. All the ethnic groups are represented.

    https://www.youtube.com/watch?v=AanxFN8knZY

  18. eee on Fri, 12th Jan 2024 3:06 am 

    They even have a skinny whore with no muscles mass fixing something that she does not understand how it works

    https://www.youtube.com/watch?v=UFjiuJURQGc

  19. eee on Fri, 12th Jan 2024 3:18 am 

    I will stick to it. I fix my car, I fix my house, I do electronics, and many more shit and I see no evidence that your YouTube videos have a impacts on earth calculators. Gravity is functioning as usuals, electronic systems are still running as usual, cars are still rusting.

    I see no evidence that you have been able to modify the law of conservation of mass, the electronics mathematics principales.

    I am telling you, earth is an execution chamber and you are here to die. Only a few selected individuals will get to leave, and I am not sure of that either.

  20. eee on Fri, 12th Jan 2024 3:21 am 

    All my observations point to the fact that earth has been designed as a torture chamber and execution chamber. If you are here on earth, most likely the GODs hate you and want you dead.

  21. eee on Fri, 12th Jan 2024 3:37 am 

    If you are on earth, you have been judged already and there is no turning back for you. Earth is your execution chamber.

  22. eee on Fri, 12th Jan 2024 3:46 am 

    I also see no evidences that you will be able to modify earth calculators and open a door to leave earth, The calculators are locked and you are in prison until all of you die.

  23. eee on Fri, 12th Jan 2024 3:50 am 

    I am not surprised that GOD send Stephen Colbert on planet earth for execution. This make sense that GOD will send people like Colbert on earth for execution. Same with Bill Mayer and many more.

    https://www.youtube.com/watch?v=PcNRQKRJX1E

  24. eee on Fri, 12th Jan 2024 4:00 am 

    IF you are on planet earth you have been judged already and sentence to death. It is that simple.

  25. eee on Fri, 12th Jan 2024 7:02 am 

    I told you, you have been judged by GOD and sentence to death. Sending you on earth is equivalent to killing you. Can you see the writing on the wall, I can see it.

    https://www.youtube.com/watch?v=FhBnW7bZHEE

  26. eee on Fri, 12th Jan 2024 7:04 am 

    I told you, you have been judged by GOD and sentence to death. Sending you on earth is equivalent to killing you. Can you see the writing on the wall, I can see it.

    https://www.youtube.com/watch?v=FhBnW7bZHEE

    I told you, I walk over the dead cadavers of Quebecers and Canadian with great pleasure just because you steal my right to carry conceal hand guns.

  27. eee on Fri, 12th Jan 2024 7:55 am 

    Francine Lacqua looks like someone that is scare. She should be afraid, she looks like a single female. According to my list you will die first ugly cunt.

    https://www.youtube.com/watch?v=Ppv1pBG4mM0

  28. ddd on Fri, 12th Jan 2024 8:07 am 

    I remember a time in my past where I was happy.

  29. eee on Fri, 12th Jan 2024 8:18 am 

    I know shit about the invisible world that none of you probably know. For example, I know they can change the skin of your forearm without killing you.

    At the end of it, I walk over the dead cadavers of Quebecers and Canadian with great pleasure just because you steal my right to carry conceal hand guns. That what would make me happy.

  30. eee on Fri, 12th Jan 2024 8:25 am 

    As soon as I am capable I decapitate all the Jews of the world and float their decapitated heads 22 feets in the air for eternity as a warning.

  31. eee on Fri, 12th Jan 2024 10:39 am 

    Listen really good fucking whore. I am not here to be your servant, whore and make you happy. Eventually fucking whore I will need something in return that makes me happy. It should not be all about you fucking bitch.

    Give me the dead of all Quebecers and Canadians so I can wark over there dead bodies for stealing my right to carry conceal gun

    and decapitate all the Jews of world and float their head 22 feet in the air. Make then we will be able to make peace.

    Give me somethinbg in retrun that will make me happp fucking whore, it is not all about you fucking whore.

  32. eee on Fri, 12th Jan 2024 11:46 am 

    This is not from me. But I said something smilaor when I talk about Bardella, Trudeau, Poilievre. These are not man but beta cuck of no value to society.
    ——————————————–

    What caused our fall?

    The men of today are very very different than the men of our founding. What happened?

    Systematic culling. The civil war and world wars served to cull the white european descendant populations of their aggressive, warrior males. The men who would have fought back were culled. The men who valued freedom to the point of being willing to die for it, were culled.

    Then, just to add insult to injury, the remaining betas were subjected to poisons in the air, water, food and medicine/vaccines that were designed to cause low testosterone and infertility (low sperm counts). Now look at the “men” of the west. Effete, weak, flabby, dysgenic, diseased, dysfunctional, low IQ, dependent, needy…..the perfect subject for the ruling ELite.

    Put another way, people that raise livestock select for the best traits they desire in their live stock. They cull the lines they do not want and breed more of the ones they do want.

    Since we are livestock to them, this is what they have been doing to us. Selectively culling in order to produce a desired product and that produce is what you see when you go to the grocery store.

    We have no warriors now. There is no resistance. The West is dead and will be erased from history and future humans will not even know we existed.

    Blame the Jews for this.

  33. eee on Fri, 12th Jan 2024 11:53 am 

    The guy is totally right:

    Put another way, people that raise livestock select for the best traits they desire in their live stock. They cull the lines they do not want and breed more of the ones they do want.

    This video proves it that they wanted submissive man

    https://www.youtube.com/watch?v=uux7PpTWWlk

    They have been working on this for a long time. Now we see the final result. A failing civilisation. I suspect they came to me also because they knew I was a real masculine man.

    Now they will lose their civilization and have no solution to this problem.

  34. ee on Fri, 12th Jan 2024 11:59 am 

    I told you that earth is an execution chamber and GOD send all the garbage he did not want. Notice the lack of morality and shame of earth population. I told you, you are here to die you are garbage. Some people try to play GOD by erasing masculine man and they have lost their civilization. Asians will keep alive for a while but it wont be same.

    Notice that they move all the manufacturing in China because Chinese are more submissive and obedient.

    Now you understand why earth is designed as an execution chamber.

  35. eee on Fri, 12th Jan 2024 12:06 pm 

    Now you understand that Montreal polytechnic event was created to put heavy restriction on firearms and install and matriarcal civilization in Whites nations using White female victimhood.

    GOD know exactly their personality and made an execution chamber for them called planet earth. If you are here, most likely you deserve it.

  36. eee on Fri, 12th Jan 2024 12:09 pm 

    This is where United Nations, Trilateral commission, Bilderberg, the Jews, move in to push forward the feminization of the whole planet, using Europe as a starting point to push their agenda.

  37. eee on Fri, 12th Jan 2024 12:14 pm 

    I have a suspicion but I am not sure but they are looking for masculine man to be used as procreators to build a new race a warriors from the start. That would explain the quality of the porn that I am watching. It looks like porn made specifically to encourage procreation. They fuck it up big time.

  38. eee on Fri, 12th Jan 2024 12:18 pm 

    Sometime by looking at porn, I had the suspicion that someone was trying to start a new race using procreation with selected man of quality and different kind of women where some would be hybrid.

    It is really high quality porn out there. Really good.

  39. eee on Fri, 12th Jan 2024 12:30 pm 

    I wanted to know if I could do sex. I am too big to lay on top of a vagina. SO I try fuck a vertical 2×4 construction beam to realize that I have trouble to do the right procreation move standing up. I don’t see how I could be a good breader. Being a big man comes with a lot of limitation, you have upper torso strength but you lack flexibility.

  40. eee on Fri, 12th Jan 2024 12:40 pm 

    That could explain why I am receiving a new body, to remove all the genetic defects, put a new genetic map in my sperm and then use me as procreator. i would have no genetic defect because they would have fix my up so I would be the perfect procreator.

  41. eee on Fri, 12th Jan 2024 12:47 pm 

    I don’t know why I am enthusiastic about being a procreator if it was they have in mind. It is really not my thing. Maybe my theory is wrong also.

  42. eee on Fri, 12th Jan 2024 12:48 pm 

    I don’t know why I am NOT NOT enthusiastic about being a procreator if it was they have in mind. It is really not my thing. Maybe my theory is wrong also.

  43. eee on Fri, 12th Jan 2024 2:36 pm 

    I knew something was off, when out of nowhere they added beach volleyball to the Olympic. They knew back then that the birth rate was low and they were trying to boost it with almost naked women.

    https://www.youtube.com/watch?v=459Oda8XPy0

  44. eee on Fri, 12th Jan 2024 2:43 pm 

    Beach volleyball became an Olympic sport in the 1996 Summer Olympic. I remember I was surprised by this move. I thought it was strange. women were almost naked. It was an attempt to boost the birth rate but it failed.

    https://www.youtube.com/watch?v=459Oda8XPy0

  45. eee on Fri, 12th Jan 2024 2:48 pm 

    Then they came with these. These are young female at the top of their fertility, maybe 3 to 4 after their first period. It was another attempt to boost the birth rate but it failed.

    https://www.youtube.com/watch?v=NjUmlWQS9lI

  46. eee on Fri, 12th Jan 2024 3:01 pm 

    They played GOD by removing the masculinity from planet earth and now they know that everything will collapse and they made a mistake. Can you see the writing on the wall.

    They wont get a second change, I explain why with conservation of mass calculator. Now they might have realized that earth is an execution chamber made to kill them and their shit creation.

    https://www.youtube.com/watch?v=FhBnW7bZHEE

  47. ddd on Fri, 12th Jan 2024 3:26 pm 

    We have everything locked and loaded and it is certain that all the population of earth will die. We have all angles cover,

  48. eee on Fri, 12th Jan 2024 4:56 pm 

    As always as videos like this appears on my youtube page:

    https://www.youtube.com/watch?v=k4r0ZHY9nBE

  49. eee on Fri, 12th Jan 2024 5:02 pm 

    If I need to explain this to you, you are a beta cuck

    https://www.youtube.com/watch?v=pvi5-x03TBk

  50. eee on Fri, 12th Jan 2024 5:08 pm 

    https://www.youtube.com/watch?v=QD_O0gwiGX0

    It is not going to work. I don,t want to be a procreator if this is what you have in mind

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