PILOT SPIN
Spin Zone => Spin Zone => Topic started by: Lucifer on November 22, 2021, 04:43:23 PM
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Wow!!! Brandon is just so awesome!!!
He's gonna save me a whole $1.50 on a fill up!! Let's Go Brandon!!
https://thehill.com/policy/energy-environment/582714-biden-administration-to-release-oil-from-strategic-reserve-reports
The Biden administration is expected, alongside several other countries, to release some of the spare oil stored in its strategic reserve, multiple news outlets reported on Monday.
Bloomberg and Politico both reported that the administration was preparing to release barrels from its Strategic Petroleum Reserve, with Bloomberg reporting that this could happen as soon as Tuesday.
Bloomberg reported that the release will happen alongside India, Japan and South Korea.
The White House, however, said that no decision had been made when reached for comment by The Hill. The Energy Department also did not respond to requests for comment.
The reports come as the country has struggled for months with high energy prices. Gasoline, which is made from oil, averaged nearly $3.41 per gallon on Monday.
A major factor in the prices has been a rebound in demand following the rollout of the COVID-19 vaccines, which has not been matched with a supply return because major oil producing countries have not returned to pre-pandemic production levels.
The Biden administration has asked a group of oil-producing countries called OPEC+ to add more oil to the market, but the group has rebuffed his requests.
Other Democrats, including Senate Majority Leader Charles Schumer (D-N.Y.), have called on the administration to release oil from the reserve to provide reprieve on the prices.
Meanwhile, the administration has indicated that it was considering the oil reserve, with Energy Secretary Jennifer Granholm saying earlier this month that it’s something President Biden is “looking at.”
And the head of the Energy Information Administration — the Energy Department’s statistics agency — told lawmakers last week that tapping into the reserve could provide some temporary relief amounting to about 5 to 10 cents at the pump.
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Really just being done to further weaken our country.
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Let's Go Brandon!!!
https://twitter.com/TheLastRefuge2/status/1463212089540059142
https://theconservativetreehouse.com/blog/2021/11/23/joe-biden-promises-to-let-taxpayers-pay-for-gasoline-they-already-purchased/
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.
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Let's Go Brandon!!!
https://twitter.com/TheLastRefuge2/status/1463212089540059142
https://theconservativetreehouse.com/blog/2021/11/23/joe-biden-promises-to-let-taxpayers-pay-for-gasoline-they-already-purchased/
"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."
Um, no.
The oil companies have to submit bids to buy the oil. It isn't being given away. Sheesh.
Here's the DOE details on who may submit bids and the reserve sites and amounts being auctioned:
https://www.energy.gov/fecm/articles/summary-50-million-barrel-release-strategic-petroleum-reserve (https://www.energy.gov/fecm/articles/summary-50-million-barrel-release-strategic-petroleum-reserve)
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"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."
Um, no.
The oil companies have to submit bids to buy the oil. It isn't being given away. Sheesh.
Here's the DOE details on who may submit bids and the reserve sites and amounts being auctioned:
https://www.energy.gov/fecm/articles/summary-50-million-barrel-release-strategic-petroleum-reserve (https://www.energy.gov/fecm/articles/summary-50-million-barrel-release-strategic-petroleum-reserve)
Who originally paid for this oil?
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Who originally paid for this oil?
Taxpayers. The source you quoted got his claim of double-payment by taxpayers wrong. Some of the oil is being loaned out (has to be returned plus some extra "interest".) Some is being sold. None is being given away.
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Taxpayers. The source you quoted got his claim of double-payment by taxpayers wrong. Some of the oil is being loaned out (has to be returned plus some extra "interest".) Some is being sold. None is being given away.
Let's say I tell you "Give me $50 to buy a barrel of oil, and I'll keep it in my back yard in case of an emergency".
A while later you complain gas prices are too high, so I sell the barrel to a refinery, and in exchange you get $0.05 off a gallon for about a month (two fill ups) or a savings of about $1.75 in exchange for the $50 you invested. BTW, I keep the original $50 plus whatever the increase on the spot price, and spend it either on more oil (at a higher price) or divert it to my general fund to spend on something I deem more important (airline flights for illegals)
Who's getting fucked here?
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https://www.thegatewaypundit.com/2021/11/destroying-us-energy-joe-biden-blames-oil-producing-countries-soaring-gas-prices-video/
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Let's see, Biden is releasing 50M barrels. In 2020 the U.S. used 20.5M barrels a day.
Wow, what a deal.
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Let's see, Biden is releasing 50M barrels. In 2020 the U.S. used 20.5M barrels a day.
Wow, what a deal.
But for the next fill up you'll save 5 cents a gallon! (for one fill up) Let's go Brandon!!
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https://twitter.com/JesseKellyDC/status/1463280652418228229
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https://twitter.com/JesseKellyDC/status/1463280652418228229
Yep.
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I hope that the majority of Americans can see through his bullshit. Things are bad and not getting better. When the media is telling you you might want to skip the turkey or ask your relatives to drop you a fiver for Thanksgiving dinner, something is really fucked up.
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I hope only the 81 million who voted for Biden have to eat PBNJ for TG.
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https://twitter.com/JesseKellyDC/status/1463280652418228229
That’s what I figured. The word “strategic” implies that.