Author Topic: Granholm: SPR Release Is ‘Doing Its Job’ – But Gas Prices Will Be ‘Rough’ ‘Through the End of the Ye  (Read 749 times)

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Offline mystery-ak

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Granholm: SPR Release Is ‘Doing Its Job’ – But Gas Prices Will Be ‘Rough’ ‘Through the End of the Year’

Ian Hanchett4 Jun 202210

During portions of an interview with ABC News released on Friday, Energy Secretary Jennifer Granholm argued that the release of oil from the Strategic Petroleum Reserve is “doing its job.” Because the point of the release “is to stabilize the global market” for oil and warned that gas prices will increase over the summer and gas prices will be “rough” “from now through the end of the year, really.”

Granholm stated, “The point of this — it’s doing its job. Because it is to stabilize the global market. I mean, we happen to have the largest tool of any country in terms of the volume of our strategic petroleum reserves.”

ABC News Correspondent Alex Presha then asked, “Do you feel like we’re close to that stabilization? Do you think things are still going to still continue to tick up?”

Granholm answered, “Well, we are starting the driving season, not just in the United States, but in other parts of the world, too. That means demand for oil products like gasoline goes up.”

She also said, “The driving season is beginning. There will be more demand for gasoline, more demand for oil. That will cause additional upward pressure, like it does every year, but now it’s on top of already high prices. So, this is going to be a rough — from now through the end of the year, really.”

https://www.breitbart.com/clips/2022/06/04/granholm-spr-release-is-doing-its-job-but-gas-prices-will-be-rough-through-the-end-of-the-year/
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Offline mystery-ak

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Democrat Party...the Party of Infanticide

“Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own.”
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Offline Smokin Joe

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What, exactly, is "it's job"?

If the intent is to draw down a strategic reserve of petroleum kept in reserve in case we get in a war, it is working swimmingly...

However, it is not and cannot address the 1.5 MMBOPD deficit in our production.

And it sure would help if the Biden Administration reversed every executive order and held the lease sales it is bound by law to have.
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

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Offline IsailedawayfromFR

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Is it "doing its job" by stripping oil out and selling it then buying even higher priced crude to fill it back up, Secretary idiot?
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Offline Kamaji

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Uh, no it's not.  Prices are still rising - because of Biden's stupid, asinine, anti-American policies.

Online Hoodat

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What, exactly, is "it's job"?

If the intent is to draw down a strategic reserve of petroleum kept in reserve in case we get in a war, it is working swimmingly...

That is the goal.  At the current rate, we will be below 30% capacity by the time the 2024 election rolls around.
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Online Hoodat

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Because the point of the release “is to stabilize the global market” for oil

Funny how the global market for oil didn't require this type of 'stabilization' when Trump was in office.
If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.

-Dwight Eisenhower-


"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."

-Ayn Rand-