Report: Utah interested in the ACC...let the ACC rumors begin

[mikalalas]

Did you know that Biden did control gas prices? Oil prices had cratered during the pandemic because few people were driving. Once the pandemic was over, along with the beginning of the Russia-Ukraine war, demand was skyrocketing. So, oil prices were also skyrocketing. OPEC and traders were keeping prices artificially high even beyond what they should have been because they were making so much money.

The Biden administration goes to Saudi Arabia and like other administrations have done, begs Saudi Arabia to increase their oil output to lower oil prices. MBS tells them to pound sand, as he is mad at them for previously coming down on him for killing Jamaal Khashoggi and other human rights violations.

So, for the first time, a president used the Strategic Petroleum Reserve as a weapon to drive down gas prices. He started selling into the market millions of barrels of oil and told traders that the US was going to keep on doing it unless oil prices dropped and dropped they have. They are even making a profit because the US sold at about $100 per barrel and is buying it back at around $70 per barrel.

Going forward, the US now has something in their toolbelt to stabilize gas prices.

While that technically worked. Constantly dipping into the oil reserves is extremely risky.

1. It depletes the reserves. The reserves are there for emergencies, like if other sources won't sell period to USA, AND if USA can't dig, get it's own oil, from its own country because no more oil left in USA ground, etc.

2. The USA might not be able to buy back the reserve oil, or if USA can buy it back, USA might have to pay more then sold it for to buy it back.

3. Oil Reserve could run out of oil.

There is more oil then the amount of oil in reserve, that is still in USA ground, that the USA, can, and should dig up, find, get, use, distribute, put some in oil reserve to replenish oil reserve, etc.

Rather then dip into Oil Reserves, Biden should have authorized more digging for more Oil, to increase the supply, lower prices.

Even Obama, as bad as he was, is better then Biden, and even he Obama, even authorized more oil digging, to increase the oil supply, lower oil, gas prices, and didn't touch the oil reserve, or not as much as Biden, and was right to not touch Oil Reserves, and was right to authorize more digging, finding, getting of USA Oil in USA ground.

Also Biden was putting Reserves at risk just to lower gas prices, just to try to get votes. He wasn't doing it to benefit the country, people, etc.

If Biden cared about the country, people, he would have helped authorize the digging, finding, getting more USA Oil, in USA ground.

 

[Coug1990]

While that technically worked. Constantly dipping into the oil reserves is extremely risky.

1. It depletes the reserves. The reserves are there for emergencies, like if other sources won't sell period to USA, AND if USA can't dig, get it's own oil, from its own country because no more oil left in USA ground, etc.

2. The USA might not be able to buy back the reserve oil, or if USA can buy it back, USA might have to pay more then sold it for to buy it back.

3. Oil Reserve could run out of oil.

There is more oil then the amount of oil in reserve, that is still in USA ground, that the USA, can, and should dig up, find, get, use, distribute, put some in oil reserve to replenish oil reserve, etc.

Rather then dip into Oil Reserves, Biden should have authorized more digging for more Oil, to increase the supply, lower prices.

Even Obama, as bad as he was, is better then Biden, and even he Obama, even authorized more oil digging, to increase the oil supply, lower oil, gas prices, and didn't touch the oil reserve, or not as much as Biden, and was right to not touch Oil Reserves, and was right to authorize more digging, finding, getting of USA Oil in USA ground.

Also Biden was putting Reserves at risk just to lower gas prices, just to try to get votes. He wasn't doing it to benefit the country, people, etc.

If Biden cared about the country, people, he would have helped authorize the digging, finding, getting more USA Oil, in USA ground.

None of this is true or logical. The USA has the biggest economy in the world. If no country is selling to the US, every country is in trouble because something else is happening in the world. because oil is sold on the open world market. They are not going to stop selling to the US, as that hurts their own bottom line. The US is digging more oil now than it had under Trump. Because the US reserves is so big, it would take years to deplete the reserves. The great thing about having this threat now, the US only has to threaten the markets with more oil being released for it to get in line. So, there is no chance that they would have to pay more.

 

[Loyal Coug1]

Tho Trump is a SCUMBAG, he did, does oppose tariffs, and his way of fighting Tariffs, and fighting the taxing of Americans as you put it, was to raise tariffs, start trade wars with any country that tried to treat USA like Shet, AKA raise tariffs against USA, etc.

Wait, what?

 

[Flatlandcoug]

Did you know that Biden did control gas prices? Oil prices had cratered during the pandemic because few people were driving. Once the pandemic was over, along with the beginning of the Russia-Ukraine war, demand was skyrocketing. So, oil prices were also skyrocketing. OPEC and traders were keeping prices artificially high even beyond what they should have been because they were making so much money.

The Biden administration goes to Saudi Arabia and like other administrations have done, begs Saudi Arabia to increase their oil output to lower oil prices. MBS tells them to pound sand, as he is mad at them for previously coming down on him for killing Jamaal Khashoggi and other human rights violations.

So, for the first time, a president used the Strategic Petroleum Reserve as a weapon to drive down gas prices. He started selling into the market millions of barrels of oil and told traders that the US was going to keep on doing it unless oil prices dropped and dropped they have. They are even making a profit because the US sold at about $100 per barrel and is buying it back at around $70 per barrel.

Going forward, the US now has something in their toolbelt to stabilize gas prices.

Personally, I wasn't a fan of the decision. It probably did help in the short term but it's not a tool that's effective after a few months. Fortunately for us, it did help blunt the wave but I just saw that the OPEC+ dickheads are trying to cut production again to boost prices. Not sure how often it works for us to tap the reserve.

 

[mikalalas]

Wait, what?

Raise Tariffs against other countries like China, AKA start a trade war, when, if a country like China raised tariffs against USA.

China has raised Tariffs against USA in past, and Trump responded by raising Tariffs against China, AKA starting a trade war with China.

Stop being silly.

 

[Coug1990]

Personally, I wasn't a fan of the decision. It probably did help in the short term but it's not a tool that's effective after a few months. Fortunately for us, it did help blunt the wave but I just saw that the OPEC+ dickheads are trying to cut production again to boost prices. Not sure how often it works for us to tap the reserve.

Except prices never did go back up after a few months or at any time other than the normal minor fluctuations. Just the threat of what the US will do has mostly eliminated long trading.

 

[Coug1990]

Raise Tariffs against other countries like China, AKA start a trade war, when, if a country like China raised tariffs against USA.

China has raised Tariffs against USA in past, and Trump responded by raising Tariffs against China, AKA starting a trade war with China.

Stop being silly.

The problem with what you are saying is that Trump in his speeches is not saying what you are saying. He does not have even a fundamental understanding of who pays tariffs. He continually says he made the US so much money in taxes when he put tariffs on items coming in from China and Mexico that they are paying.