RE: Oil Prices Plummet
April 1, 2022 at 3:36 pm
(This post was last modified: April 1, 2022 at 3:44 pm by A. Secular Human.)
(March 31, 2022 at 11:29 am)Fake Messiah Wrote: Ah, yes, people used to live in hamlets and they didn't go anywhere, they had everything on a few acres around them. But now, people constantly need to go somewhere. If you take away their car is as if you amputated their limbs.
Cars?!? <yawn>
Just try to take away a teen's smartphone!
(March 31, 2022 at 2:19 pm)BrianSoddingBoru4 Wrote:(March 31, 2022 at 12:59 pm)onlinebiker Wrote: Biden stupidly dips into the strategic reserve....
Then when we NEED it, there won' t be any.
Fckn douche.
You realize that Congress has been selling off the reserve to fund your deficit for years, right?
And I’m sure you also realize that the SPR is not a fixed quantity - it gets replenished on a more or less regular basis.
Also, you’re no doubt aware that at the rate Biden is releasing the oil, it would take (if it never, ever gets replenished) about two years to deplete it, assuming the US bought and consumed no other oil during that time.
Boru
The oil that's in the SPR was bought for about half (<$50/bbl) of what it's being sold for today (>$100/bbl). By selling a million barrels every day, the US Gov't should be pulling in about $50M in profits from the sale. Then, after the price comes down, the SPR will be refilled.
Sounds like a win-win.
Disappointing theists since 1968!
