The Briefing Room
General Category => Science, Technology and Knowledge => Energy => Topic started by: mystery-ak on June 04, 2022, 08:20:30 pm
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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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What a lying bitch..
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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.
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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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Uh, no it's not. Prices are still rising - because of Biden's stupid, asinine, anti-American policies.
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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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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.