U.S. to Purchase 3 Million Barrels of Oil at $80/Barrel to Replenish Emergency Oil Reserves Depleted by Joe Biden - After Democrats Blocked Trump from Purchasing $24/Barrel Oil 3 Years Ago

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[–][deleted] 10 insightful - 2 fun10 insightful - 1 fun11 insightful - 2 fun -  (9 children)

More corruption. I wind how much of this money makes it back to the Bidens.

[–]niggerjewfaggot 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (4 children)

No - it's more disinformation from P-38lightning and the thegatewaypundit.com, at the top of Saidit, somehow

[–][deleted] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (3 children)

https://www.ecosia.org/search?tts=st_asaf_iphone&q=us%20purchase%20oil

[–]niggerjewfaggot 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

There's the evidence. The exact prices are not really known, and high estimates are $67-70. The amount to be purchased is not yet known (though 3 billion 'could' be projected). OPEC prices could change, as they often do, down or up. India is also selling Russian crude, which Big Oil has been purchasing at a MUCH lower rate, while raising prices on the 99%, making 100s of $billions in profit, and funding the murder, rape, genocide, carpet bombing of Ukraine. And - re. OPEC - this is not just about oil. It's also about keeping the Dollar as a primary global trade currency. Moreover, the US will replenish those reserves also with a lot of IT'S OWN OIL. This article is disinformation. Not $80/barrel; not 2 billion barrels; Demonrats weren't the only ones to block that purchase of shitty, low grade oil 3 years ago; NOR did was that proposed primarily by Trump.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

I understand your point.

[–]Canbot 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

It's not a point, it is pure propaganda. He claimed the story is a lie, and you literally proved him the liar by providing proof. So he backtracked with "I meant we don't know this exact price because maybe they paid less than market rate".

That's litterally propaganda from a literal propagandist.

And if you expose him as a liar again he will move the goalposts again and claim he only meant something else. Each time trying to move into something unprovable or subjective.

He doesn't have a point. His job here is simply to create doubt.

[–]STRAPONMONKEYDICK 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (3 children)

The White House is now controlled by Foreign agents by Muslims by Chinese and by Russians and they intend to bankrupt you

At present I have plans to go to a country in Asia and do you know they will not let just any Foreigner by land or open a business and because the United States allows any foreign dumb f*** to come in and buy up as much real estate as he wants and to buy businesses We have basically sold the country to our enemies

[–]bucetao6969 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

You're telling me the country incapable of taking control of Ukraine is capable of controlling united states from the inside?

[–]STRAPONMONKEYDICK 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Do you think that the Russian mafia is not here in the United States? Well I have news for you sir they most definitely are here and they have a stronghold in this country. I'm so sorry that you didn't get the memo

Oh and also I'm sorry I called you sir I apparently I misgendered you when I should have referred to you as dumb s*** b****

[–]bucetao6969 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

300lb energy

[–][deleted]  (8 children)

[deleted]

    [–]Site_rly_sux 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (7 children)

    Why is any of this a bad thing, again? The strategic reserve is there to be drained in times of shortage, and filled in times of plenty. What part of Biden's decision to draw from or refill the supply was a bad decision? Where exactly was Biden misinformed here? What am I missing?

    If we keep buying at $80 and open the valves when it hits $100...then Biden is doing the right thing, no?

    [–][deleted]  (6 children)

    [deleted]

      [–]Site_rly_sux 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (5 children)

      Okay so if you (incorrectly) believe that happened and they're emptied now....shouldn't he be buying?

      Even if you hold that fake belief in your head - isn't it correct to now be refilling storage?

      What's the actual problem you take with this story?

      [–][deleted]  (4 children)

      [deleted]

        [–]Site_rly_sux 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (3 children)

        Yeah I disagree with the sequencing you presented. Sure, I'm in a bubble - but you didnt answer the question- isn't it correct to now be refilling storage?

        What's the actual problem you take with this story?

        Can you try and actually shepherd your remaining brain cells into an orderly formation and actually explain why Biden should NOT be refilling storage?

        [–]MagicMike 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (2 children)

        Trump hatred prevented them from filling up the reserve when oil was much cheaper.

        [–]Site_rly_sux 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

        I don't believe your fake claim and here's my in-depth analysis of why.

        https://saidit.net/s/politics/comments/athc/us_to_purchase_3_million_barrels_of_oil_at/1283m

        Where's yours?

        [–]MagicMike 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

        Nancy, is that you?

        [–]Brewdabier 7 insightful - 2 fun7 insightful - 1 fun8 insightful - 2 fun -  (0 children)

        Bidens math skills is next fucking leval shit for brains.

        [–]thomastheglassexpert 7 insightful - 1 fun7 insightful - 0 fun8 insightful - 1 fun -  (4 children)

        Dimmos have no problem spending other people's money. No problem at all and they do not care that they do not care.

        [–]Site_rly_sux 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (2 children)

        Well the headline says trump also wanted to buy oil, so clearly there's bipartisan support for spending America's money on a strategic oil supply.

        Is your complaint about spending - you don't think any money whatsoever should be spent on a strategic supply, or - you just think a better deal could be gotten at today's spot prices? Or what?

        [–]thomastheglassexpert 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (1 child)

        Trump Derangement is so strong it does not matter what "good" a deal is = if Trump wants it or does it then Dimmos have to kill it. My now ex GF slowly trotted out over 2 solid years TDS so vicious and hot I gave her the boot. It just looks to me as though Dimmos said no to Trump automatically and then say yes to moron FJB equally automatic.

        [–]Site_rly_sux 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

        what "good" a deal is

        It wasn't good.

        You haven't checked whether or not it was a good deal. In fact for all you know, it was objectively a bad deal.

        Here's my in depth review which concludes that you and your orange dipshit are both retarded https://saidit.net/s/politics/comments/athc/us_to_purchase_3_million_barrels_of_oil_at/1283m

        [–]STRAPONMONKEYDICK 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

        》Dimmos have no problem spending other people's

        I promise you there are foreign agents in the White House that have been given control of our spending habits such as black people from Africa we gave them power to write checks freely and Muslims likewise we have given them power to write checks freely they are funneling all of our money back to their home countries and they are going to leave us in such a sad State of Affairs we are now bankrupted

        The primary agenda of Islam is to rule over all of the non-muslims in the world so they have no problem bankrupting you

        [–]Site_rly_sux 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (4 children)

        Anyone else notice that their claim about $24/barrel 3years ago is one of the only non-hyperlinked statements like that in the story?

        Why didn't they cite their evidence for that part, if they're citing everything else. Literally none of their links talks about 24 /barrel three years ago.

        Anyway why doesn't a smart saiditor please help fill me in because I have the stupids. Why is any of this a bad thing, again? The strategic reserve is there to be drained in times of shortage, and filled in times of plenty. What part of Biden's decision to draw from or refill the supply was a bad decision? Where exactly was Biden misinformed here? What am I missing?

        If we keep buying at $80 and open the valves when it hits $100...then Biden is doing the right thing, no?

        [–]bife_de_lomo 8 insightful - 1 fun8 insightful - 0 fun9 insightful - 1 fun -  (1 child)

        Bloomberg had a story about it last year

        https://www.bloomberg.com/news/articles/2022-09-13/biden-may-buy-oil-just-below-80-democrats-stymied-trump-at-24?leadSource=uverify%20wall

        And an archive link.

        https://archive.ph/MEEtX

        It doesn't seem to be misinformation

        [–]Site_rly_sux 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

        Thanks and actually that links through to the contemporary reporting in March 25, 2020

        Funding to Refill Oil Reserve Cut From Stimulus But Could Return

        https://archive.ph/LI6XR

        Funding for President Donald Trump’s plan to fill up the nation’s emergency oil reserve to help struggling drillers cope with the price crash failed to make it into the latest stimulus legislation but could return in other forms.

        Lawmakers eager to get the stimulus package to the president essentially opted to defer a fight over whether to pair the oil purchase with funding for clean energy. But the issue could arise as Congress takes up additional coronavirus-related legislation in coming weeks.

        In a letter to caucus members, Senate Democratic Leader Chuck Schumer claimed victory after blocking a “bailout for big oil.” A previous Republican draft of the bill contained $3 billion to top up the Strategic Petroleum Reserve.

        So brass tacks, what is it that Trump's actually out there doing, which represents him wanting to buy all this oil? Here's the document which explains what Trump's admin has in mind.

        Solicitation To Purchase Crude Oil For The SPR

        https://www.energy.gov/articles/department-energy-executes-direction-president-trump-announces-solicitation-purchase-crude

        WASHINGTON, D.C. – At the direction of the President of the United States, Donald J. Trump, the Department of Energy (DOE) will fill the Strategic Petroleum Reserve (SPR) to its maximum capacity by purchasing 77 million barrels of American-made crude oil. Today, DOE announced a solicitation for the purchase of an initial 30 million barrels to begin filling the SPR. Solicitations for additional purchases will follow.

        “DOE is moving quickly to support U.S. oil producers facing potentially catastrophic losses from the impacts of COVID-19 and the intentional disruption to world oil markets by foreign actors,” said U.S. Energy Secretary Dan Brouillette.

        Under this initial solicitation, DOE will purchase up to 30 million barrels of sweet and sour crude oil with a focus on small to midsize U.S. oil producers.

        “The small to midsize oil producers, which are the focus of the initial crude oil purchase, employ thousands of Americans,” said Under Secretary of Energy Mark W. Menezes. “These businesses have been particularly hard hit by recent events but under President Trump’s leadership, we are taking swift action to assist hard hit producers and deliver strong returns to the taxpayer.”

        Having (thank you) concluded that this is based on real information, then our next step is to consider the argument being made.

        Let's learn a few things about the strategic petroleum reserve, the SPR.

        https://www.energy.gov/ceser/spr-quick-facts

        Average price paid for oil in the Reserve - $29.70 per barrel

        Drawdown Capability

        • Maximum nominal drawdown capability - 4.4 million barrels per day
        • Time for oil to enter U.S. market - 13 days from Presidential decision

        Detailed monthly storage levels chart and data

        https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCSSTUS1&f=M

        The weekly (?) rendered jpg from the federal governement which is the authoritiative source for the current supply

        https://www.spr.doe.gov/dir/dir.html

        Now that we have some facts and context, let's look again at Trump's decision.

        In March 2020, there were 634,967 thousand barrels of crude oil in storage.

        The most America has ever, ever had was 726k thousand barrels during 2010.

        The least we've had, in the modern era, is right now at 359,600 thousand barrels.

        So Trump's decision to buy should be viewed in the light of - it's 2020 and we're close to having the most full storage we've ever had.

        Why does Trump want to do it? According to the Bloomberg links, it's to "to help struggling drillers cope with the price crash" - something which Schumer is then quoted as calling a “bailout for big oil.”

        Trump's appointee's retort to Schumer:

        “The small to midsize oil producers, which are the focus of the initial crude oil purchase, employ thousands of Americans,” said Under Secretary of Energy Mark W. Menezes.

        So that's the debate taking place in 2020: oil producers are struggling to cope with a price-crash, and Trump wants to bail out the oil companies because they employ lots of people.

        Trump's and Schumer's decision should be examined in that context - should America's coronavirus bailouts have included cash for Big Oil who were experiencing a slump in demand?

        I don't think it should have. I think when demand skyrockets and oil price rises, the American public have to spend money releasing oil from the SPA, so it costs us and makes money for Exxon. So, when the price falls, Exxon should have to privatise the loss for the public gain.

        So u/P-38lightning which part do you disagree with?

        Aren't you weirded out that none of this was explained in the gateway pundit link? Doesn't it all seem like highly useful context? Do you feel silly for posting the completely fake OP, now that you know all this?

        [–][deleted]  (1 child)

        [deleted]

          [–]Site_rly_sux 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

          He's not a shill but likewise he's not a normal saidit user.

          https://saidit.net/s/memes/comments/ag56/when_democrats_check_their_temperature/11bop

          https://saidit.net/s/politics/comments/a315/elon_musks_twitterfiles_drop_proves_that_big_tech/10fkl?context=3

          In my opinion he's a literally retarded old autist man. I think he's probably late 50s and totally braindead.

          [–]MagicMike 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (0 children)

          The Democrats hate Trump and oil so much that they called his wanting to buy cheap oil as a ‘bailout’. They simply can’t believe that someone is FOR the country and not out for themselves.

          [–]UncleWillard56 3 insightful - 3 fun3 insightful - 2 fun4 insightful - 3 fun -  (2 children)

          Why would need to buy any when we produce it ourselves.

          [–]BISH 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (0 children)

          We would first need to nationalize an oil company, which may be a bad idea. Probably a bad idea. Almost certainly.

          However, private companies have already hijacked the levers of govt power.

          We're living in a fascist system; with feckless voting.

          [–]SoCo 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

          We mainly produce a type of oil that our refineries are not geared for using. We typically sell our oil to South America and buy our oil from Russia and Europe.

          [–]passionflounderIndependent 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (1 child)

          Yes- they blocked Trump's purchase because OrangeManBadBadBad®

          Bad-bad-bad-bad-bad-bad-bad mwah

          [–]randomSka 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

          Be zoodle doop doop do

          [–]Fiyanggu 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (0 children)

          The Dems are institutionalized corruption and the GOP isn't much better. Trump is the true outsider.

          [–]Ferretman 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

          DUH....this is what passes for "Democrat thinking", apparently.

          Maybe they plan to make it up in volume.....?

          [–][deleted]  (4 children)

          [deleted]

            [–]ShekelPa 7 insightful - 1 fun7 insightful - 0 fun8 insightful - 1 fun -  (3 children)

            LOL, he caused inflation with his stupid ass policies. Why would he want to reverse that?

            [–]TheMaharishi 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (1 child)

            Inflation is when they steal from poor people by pulling money out their ass and lending it out with interest. Inflation is man made it's not some kind of law of nature. Back in the day kings could on go to war as long as they had gold in their coffers. With fiat currency every single coin the people own are at their disposal.

            [–]SoCo 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

            That is an overly simplistic concept of inflation, where simple currency supply, "printing money," is at fault.

            In modern time, since the government not only controls the supply on our completely un-cacked money, but it also controls most of the entire national economy of markets through ever expanding regulatory glut, through absorbing debt from the system in various ways, like "purchasing" bonds, expanding the deficit, and increasing un-backed government spending, as well as through wealth redistribution by tax revenue usage policy, inter-banking loaning rates, and every policy change, by its effect on the nation's domestic economic production (of which the impact of government loaning or debt holding affects).

            [–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

            When you look up dumb in the dictionary...

            [–]SoCo 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

            He got lucky and had an opportunity to buy at the bottom, and even had special tools to ensure he could do so at the drop of a hat with futures guarantees, but mysteriously failed to act.

            Now that World War 3 is fully started, the Emergency Oil Reserve, meant to mostly protect us in the event of war, is nearly bone dry, used mainly to temporarily tamper down public outrage before midterm elections, by buying down consumer gas prices and resulting cost increases of necessities, which were a direct and indirect result of Biden's war on oil policies and projected policies.

            [–]MuskyIndependent 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

            Now that World War 3 is fully started

            Just the half hearted opening salvos and maneuvering. We're definitely headed to WW3 but so far it's just Cold War 2.0.

            [–]SoCo 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

            We have troops on the ground, dead ones on the ground, and are training jet fighters, while our allies supply the jets. I think WW3 is fully confirmed; it is just the early stages that the media wants to cover up.

            [–]In-the-clouds 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

            Remember how Trump ordered the assassination of Iran's military commander? Think. Iran

            Neither man is the Savior. They are powerless to save you. That job has already been taken. Jesus will return and his reward is with him, to give every man according to his works.