Robbing Peter to pay Paul - gasoline prices

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Follow the money - gas prices are down a bit because *Resident Biden is draining our Strategic Reserve.
He is also refilling it at market prices - something the mainstream media is not telling you:

More here - from MarketWatch, May 1st, 2020

Here are the challenges Trump will face in effort to rescue the oil market
Oil has suffered from eye-opening declines, with U.S. prices on track for a loss of 69% so far this year. There are actions the U.S. may take to help stabilize the market, but efforts may come too late, and none are without obstacles.

The recent oil-price collapse significantly raises the likelihood that the Trump administration will move to lessen regulatory burdens placed on the U.S. oil industry, says David McCullough, partner in the energy and infrastructure practice of law firm Eversheds Sutherland.

This was a market correction and during this time, President Trump wanted to use the low prices to top off our Strategic Reserve.  But...

Filling up the SPR, to the tune of 77 million barrels of available storage space, may be the most effective option for the government to influence prices, says Paul Sheldon, chief geopolitical adviser for analytics at S&P Global Platts. It could also buy up to 365 million barrels of unproduced domestic crude, “utilizing legal authority to raise the government stockpile to 1 billion barrels.” The SPR had 636 million barrels as of April 24.

Congress would need to provide funds for this, and that appears improbable, given objections from Democrats, Sheldon says.

Those nutty Democrats - always a game to them.  Rope.  Tree. Some assembly required.
These people are idiots.

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This page contains a single entry by DaveH published on July 28, 2022 6:12 PM.

Not good - Ammonia production in Europe was the previous entry in this blog.

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