actually in the 2017 budget, it was mandated by congress to sell the oil reserve because we did not need it any longer as we were energy independent again (Which we still are). Have the SPR is a major expense keeping the facility in good condition to maintain the oil.
She has a lot of money to burn and in NC the governors race is going to hurt Trump. I still believe he pulls it out in NC as rural NC is in love with that man.
Actually, that's pretty standard sidestepping of the point. That has nothing to due with Biden draining them in 2021 for his own reasons and the SPR release was to be 25 million barrels over 3 years ending in 2020. The chart above tells the real story. Some of those sales were to fund modernization efforts.
You dont advertise when sales are up. You do it when there down....
It just seems a bit strange this would take place and nothing is done. Why didn't Biden act to prevent this?
I'm not side stepping anything. I'm just telling you we don't need it anymore. Worst case we go to war, the president can ban the export of crude oil. I would rather the money go to pay down debt (Which Washington has zero appetite to do)
So demand is higher than production can handle? With the increase of EVs and hybrid roles for workers it seems it would be lower. Also, not to mention unemployment so many do not drive.The US isn’t relying on foreign oil only. It just had record high crude oil production in 2023 of 12.9 million barrels per day. That isn’t just the record high for the U.S. It is actually the record high for all countries! “Drill, baby drill” has already been occurring.
I'm not an economist or would know grocery profit margins to answer that. It's pretty sad anyone in his position wouldn't look for solutions.
The United States produces so much oil we export nearly 10 million barrels a year. That is more than we import. What are you talking about?
Larry already pointed that out earlier. Why is the price still elevated?
