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Author Topic: President Joe Biden prepared to use oil reserves again to lower gas prices  (Read 657 times)

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Offline rangerrebew

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President Joe Biden prepared to use oil reserves again to lower gas prices
« on: June 17, 2024, 10:56:02 am »
President Joe Biden prepared to use oil reserves again to lower gas prices
By
Washington Examiner Staff
June 17, 2024 5:29 am
.
President Joe Biden is prepared to release more oil from the country’s strategic reserves if gas prices increase during summer. This is the latest plan by the Biden administration to counter higher prices at the pumps and the more expensive prices on various goods due to inflation.

A Biden administration energy advisor suggested that gas prices were “still too high” for many in the country and that he favors taking action to “cut them down a little bit further.”


“We will do everything we can to make sure that the market is supplied well enough to ensure as low [a] price as possible for American consumers,” Special Presidential Coordinator for Global Infrastructure and Energy Security Amos Hochstein told the Financial Times. “I think that we have enough in the SPR if it’s necessary.”

https://www.washingtonexaminer.com/politics/biden/3047071/president-joe-biden-prepared-to-use-oil-reserves-again-to-lower-gas-prices/
« Last Edit: June 17, 2024, 10:57:01 am by rangerrebew »
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Offline Smokin Joe

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Re: President Joe Biden prepared to use oil reserves again to lower gas prices
« Reply #1 on: June 17, 2024, 05:04:36 pm »
Using up strategic reserves to maintain a political stranglehold on the industry that produced those reserves--one he has waged war on at every turn? 9999hair out0000

Any price hiccup that comes from this will only be temporary, anyway.
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Offline LMAO

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Re: President Joe Biden prepared to use oil reserves again to lower gas prices
« Reply #2 on: June 17, 2024, 11:44:41 pm »
To paraphrase Margaret Thatcher, "the problem with using the SOR to lower gas prices is you eventually run out of oil"
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Offline Smokin Joe

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Re: President Joe Biden prepared to use oil reserves again to lower gas prices
« Reply #3 on: June 27, 2024, 04:10:16 am »
The back side of this coin is that in order to fill the reserves with demand far beyond what it was during COVID, for instance, the price will not only be higher (unless the Government can work out a deal for royalties in kind, which might require them to re-open leasing), but the cost to consumers will be higher, too.
This way, in the event a Republican follows Biden's term, they will have to work to get prices back down by opening up now forbidden areas to drilling and improving transportation infrastructure--everything this administration has fought against.
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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.

C S Lewis

Offline GtHawk

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Re: President Joe Biden prepared to use oil reserves again to lower gas prices
« Reply #4 on: June 27, 2024, 11:05:29 am »
What oil reserves? Which is my same response as last time this was posted.
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Offline DefiantMassRINO

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Re: President Joe Biden prepared to use oil reserves again to lower gas prices
« Reply #5 on: June 27, 2024, 11:13:52 am »
The Strategic Petroleum Reserve should be running on fumes by now.

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