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Author Topic: Oil from U.S. reserves head overseas as gasoline prices stay high  (Read 869 times)

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rebewranger

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Oil from U.S. reserves head overseas as gasoline prices stay high
« on: July 05, 2022, 03:47:50 pm »
Oil from U.S. reserves head overseas as gasoline prices stay high
By Arathy Somasekhar - 4h ago
 

By Arathy Somasekhar
 
HOUSTON (Reuters) - More than 5 million barrels of oil that were part of a historic U.S. emergency oil reserves release aimed at lowering domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices touched record highs.

The export of crude and fuel is blunting the impact of the moves by U.S. President Joe Biden designed to lower record pump prices. Biden on Saturday renewed a call for gasoline suppliers to cut their prices, drawing criticism from Amazon founder Jeff Bezos.

About 1 million barrels per day is being released from the Strategic Petroleum Reserve (SPR) through October. The flow is draining the SPR, which last month fell to the lowest since 1986. U.S. crude futures are above $105 per barrel and gasoline and diesel prices above $5 a gallon in one-fifth of the nation https://gasprices.aaa.com/. U.S. officials have said oil prices could be higher if the SPR had not been tapped.

 https://www.msn.com/en-us/money/markets/oil-from-u-s-reserves-head-overseas-as-gasoline-prices-stay-high/ar-AAZds2N?ocid=msedgntp&cvid=61083a4c694b4ea382d030d51f14d956
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Offline Killer Clouds

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Re: Oil from U.S. reserves head overseas as gasoline prices stay high
« Reply #1 on: July 05, 2022, 04:02:16 pm »
How is exporting oil from reserve supplies lowering prices in the US? Someone please explain.
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Online LMAO

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Re: Oil from U.S. reserves head overseas as gasoline prices stay high
« Reply #2 on: July 05, 2022, 04:12:40 pm »
Quote from: Killer Clouds on July 05, 2022, 04:02:16 pm
How is exporting oil from reserve supplies lowering prices in the US? Someone please explain.

It’s the Biden administration.

That’s the explanation
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Offline christian

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Re: Oil from U.S. reserves head overseas as gasoline prices stay high
« Reply #3 on: July 05, 2022, 04:40:43 pm »
Quote
How is exporting oil from reserve supplies lowering prices in the US? Someone please explain.

As explained many times before, the WOKE speak in opposites.  Joes keeps making things worse, while slowly cutting Americas throat, and then joyously laughing about it.  Joe thinks its funny people are too stupid to realize how what he does and says works.  He's speaking in opposites, and Joe is laughing about how clueless people are to not get it, since his assuming the office of the Presidency.  Are YOU that clueless that Biden laughs at YOU?
 ****slapping :smokin: ****slapping
« Last Edit: July 05, 2022, 05:05:35 pm by christian »
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Online mountaineer

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Re: Oil from U.S. reserves head overseas as gasoline prices stay high
« Reply #4 on: July 05, 2022, 06:30:42 pm »
Just a guess, but couldn't we have used that oil right here in the USA?  **nononono*
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Re: Oil from U.S. reserves head overseas as gasoline prices stay high
« Reply #5 on: July 05, 2022, 06:34:59 pm »
Criminal if you ask me.....
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Online Fishrrman

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Re: Oil from U.S. reserves head overseas as gasoline prices stay high
« Reply #6 on: July 05, 2022, 10:52:52 pm »
Mountaineer asks:
"Just a guess, but couldn't we have used that oil right here in the USA?"

Durn good question.

I've posted this numerous times before on this forum.
There should be a law passed that BARS any energy produced within the United States from being exported FOR ANY PURPOSE.

That includes petroleum, coal, and natural gas.

We are SHORT of energy, we need EVERYTHING we produce.
Doesn't this have somethin' to do with the old rules about "supply" and "demand"?

I will consider one exception:
Natural gas that would otherwise be "flared off" because there is no domestic market for it.

But... if the "needs of the market" (re natural gas) are being met, currently, then why are gas prices rising...?
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Offline Texas Yellow Rose

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Re: Oil from U.S. reserves head overseas as gasoline prices stay high
« Reply #7 on: July 05, 2022, 11:07:37 pm »
Quote from: LMAO on July 05, 2022, 04:12:40 pm
It’s the Biden administration.  :#@$%:
That’s the explanation
Criminals all of them!!
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Re: Oil from U.S. reserves head overseas as gasoline prices stay high
« Reply #8 on: July 05, 2022, 11:17:20 pm »
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Re: Oil from U.S. reserves head overseas as gasoline prices stay high
« Reply #9 on: July 05, 2022, 11:30:02 pm »
Quote from: Texas Yellow Rose on July 05, 2022, 11:07:37 pm
Criminals all of them!!

 :yowsa: Every damned one!
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Re: Oil from U.S. reserves head overseas as gasoline prices stay high
« Reply #10 on: July 06, 2022, 12:30:42 am »
Quote from: mountaineer on July 05, 2022, 06:30:42 pm
Just a guess, but couldn't we have used that oil right here in the USA?  **nononono*

Too logical and practical.  22222frying pan
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Offline christian

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Re: Oil from U.S. reserves head overseas as gasoline prices stay high
« Reply #11 on: July 06, 2022, 12:58:46 am »
Joe tells us he wants to help us with energy shortages, they moves on taking more oil production down and end wells in the Atlantic and Pacific oceans.  Joe has to believe Americans are far too stupid to understand simple survival.  Symbol of Joe B to Americas future.
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Re: Oil from U.S. reserves head overseas as gasoline prices stay high
« Reply #12 on: July 06, 2022, 01:10:59 am »
@Cyber Liberty

This thread and the one at the link below probably need to be combined but you decide.

https://www.gopbriefingroom.com/index.php/topic,474306.msg2668510.html#msg2668510
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Re: Oil from U.S. reserves head overseas as gasoline prices stay high
« Reply #13 on: July 06, 2022, 05:59:11 am »
Quote from: mountaineer on July 05, 2022, 06:30:42 pm
Just a guess, but couldn't we have used that oil right here in the USA?  **nononono*
Sooner or later, but US refineries are running at 95% (about as high as it gets without chancing malfunctions).
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Re: Oil from U.S. reserves head overseas as gasoline prices stay high
« Reply #14 on: July 06, 2022, 03:42:04 pm »
July 6, 2022
Biden releases U.S. Strategic Petroleum Reserves ... to China
By Monica Showalter

Joe Biden is busy blaming gas station owners for the soaring prices of filling up at the pump.

Why, those dirty birds!

It's his latest scheme to deflect blame for the nasty price shocks he's brought on us, with gas going for about $5 a gallon nationwide, and $6-something in tax-happy, save-the-planet California.

He's also blamed Putin, Big Oil producers, oil refineries, Republicans, and anyone but himself when it's obvious enough that the root of the problem is his crush-the-oil industry policies that he launched on day one in the name of "going green." Combine it with his monster rounds of federal money-printing which has brought on authentic inflation, and it's a double whammy of inflation and constrained supply.

Oh, but rest assured, he says he's the good guy here:

    "I promise you I’m doing everything possible — everything possible to bring the price of energy down, gas prices down.  And I want to make sure we all work on this together."

So he babbled. That's from the White House official transcript.

more
https://www.americanthinker.com/blog/2022/07/biden_releases_us_strategic_petroleum_reserves__to_china.html
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Re: Oil from U.S. reserves head overseas as gasoline prices stay high
« Reply #15 on: July 06, 2022, 03:43:32 pm »
 bill clinton did the very same thing with our energy reserves when he was President.  As long as people are willing to let the liberal democrats rape this Country, they will continue to rape this Country.  Amazing 1+1=2 eh?  You want Chinese, or Communist democrats to represent your interests?  Be ultra-globalist rich, or Communists, you can get first class service-representation then.  Remind yourself of Afghanistan for one.
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