windywave wrote:
https://www.reuters.com/business/energy/us-begins-buying-back-oil-strategic-reserve-official-2022-12-16/ Hey look we're buying back 1.6% of the 180MM we sold
Also the Administration said it will take months to years to replenish
Oh and this is an incentive to producers to invest in future production Eyeroll emoji
Actually is 165 million, not 180 million. They have always said they would buy it back in phases......but you knew that. The oil they sold was at $96 per barrel average price, it was $73 today. Good Job Joe.
Odd that you enthusiastically supported releasing the SPR after Katrina even though the impact was a tiny fraction of the combo of production constraints, supply chain issues, a surge in demand, and a war involving the worlds 2nd largest producer. Your outrage is very selective, and misguided.
Did you see that Joe is also helping out some refineries due to the massive Keystone pipeline spill?
Not just any oil spill. The Keystone pipeline dumped notoriously hard-to-clean 'dilbit' in Kansas | KCUR 89.3 - NPR in Kansas City
Yup, Keystone. That pipeline that everyone thinks does not exist.
Gas is $2.14 here. Thank you Joe Biden.