What’s President Biden been doing - a lot

[bgreene]

Originally Posted by Destroyer

Hardly. 50 Million barrels is 1/12th or just over 8% of our entire reserves.

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And oil prices just fell 13% yesterday on covid concerns.
We don’t need to sit on 600 million barrels of oil in caves.

[Destroyer]

Originally Posted by bgreene

And oil prices just fell 13% yesterday on covid concerns.
We don’t need to sit on 600 million barrels of oil in caves.

Not sure if it was 13%, but that's on the stock market and not at the pump. Sure, it's probable that ultimately it's a good thing but what does it have to do with selling off our Strategic Reserve oil? Oil that was put into the ground as protection of our Country. I thought you said you were a patriot? How is weakening our logistical standing patriotic?

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[bgreene]

Originally Posted by Destroyer

Not sure if it was 13%, but that's on the stock market and not at the pump. Sure, it's probable that ultimately it's a good thing but what does it have to do with selling off our Strategic Reserve oil? Oil that was put into the ground as protection of our Country. I thought you said you were a patriot? How is weakening our logistical standing patriotic?

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Oil price just dropped by 13 % . Calm down

[Destroyer]

Originally Posted by bgreene

Oil price just dropped by 13 % . Calm down

Actually it's going back up again. WTI was trading at $68.18 a barrel 3 days ago, and right now it's @ $71.31. Brent Crude (a much lighter oil that most gasoline comes from) is at $75.32 a Barrel today, up $2.43 from yesterday.

In all cases, this is the cost of crude oil, and not reflected in prices at the gas pump at this time. We all know from experience that any price increase is instantly reflected at the pump but any decrease usually take 2-3 weeks (if at all) to make it to the pumps.

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[bgreene]

Originally Posted by Destroyer

Actually it's going back up again. WTI was trading at $68.18 a barrel 3 days ago, and right now it's @ $71.31. Brent Crude (a much lighter oil that most gasoline comes from) is at $75.32 a Barrel today, up $2.43 from yesterday.

In all cases, this is the cost of crude oil, and not reflected in prices at the gas pump at this time. We all know from experience that any price increase is instantly reflected at the pump but any decrease usually take 2-3 weeks (if at all) to make it to the pumps.

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Correct

[Destroyer]

Originally Posted by bgreene

Correct

Of course. But what does this have to do with selling some of our Strategic Reserve?

Oh, and here's a nifty little fact for everyone.... That internet infrastructure part of the Infrastructure bill for 50+ billion dollars? Guess where 32 Billion+ is going. The US Government will own the pipe line. So just like Google they will be able to see where everyone on that pipeline is going, what they are watching, what they are saying. In short they will be able to spy on anyone connected to that pipe.

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[bgreene]

Originally Posted by Destroyer

Of course. But what does this have to do with selling some of our Strategic Reserve?

Oh, and here's a nifty little fact for everyone.... That internet infrastructure part of the Infrastructure bill for 50+ billion dollars? Guess where 32 Billion+ is going. The US Government will own the pipe line. So just like Google they will be able to see where everyone on that pipeline is going, what they are watching, what they are saying. In short they will be able to spy on anyone connected to that pipe.

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Spying wow call James Bond