We should be dipping into the strategic petroluem reserve
This is what it's there for. I can't fathom why we are not doing it....except that maybe Trump criticized Biden for doing it.
Everything about this war - apart from the tactical brilliance of our military - is so fucking stupid.
Replies to: We should be dipping into the strategic petroluem reserve
3 days after gas prices went up?
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Absolutely. Oil from the reserve would not start arriving for two weeks at minimum.
If the war ends, then the orders can be canceled.
This is a no-brainer.
Gas is still cheaper than a year ago and 2 years ago.
If you want to get ahead of the curve, I could see it. But it seems knee-jerk to me.
Not remotely necessary today... nor when Biden did it for purely political reasons.
Markets always self-correct.. if we are patient. .
The SPR was created for exactly this type of 'shock' to oil prices...and Biden handled it
perfectly...replaced the reserves used...at a net profit.
I'm not remotely shocked. I don't live in California.
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That's too bad...I've never regretted the move...great environment, great opportunities and great
people of all shades and backgrounds.
But I digress...the SPR works...while Biden replaced a significant amount of what was released (at a profit)...DJT failed to restore any of the remaining capacity, even though prices were low, and now we're in a bit of a pickle. Reminds me of how in the first three years of his first term he also failed to restock the 'Strategic National Stockpile' (SNS) with N95 Masks and Ventilators that were desperately needed when the COVID-19 pandemic hit...something to do with Obama having given him a "Pandemic Preparedness Plan" that of course DJT flat out refused to accept, just because...would you believe it...it came from Obama.
Trump is a curse on this country...and the free world.
Again, this is the kind of crisis the reserve is there for
If this goes on another few weeks, gas prices will be at record highs - and the US economy will suffer. it has nothing to do with market corrections.
Economic health is what we call a "vital national interest."
Draw upon the reserve in times of crisis and fill it back up when the crisis passes. That is what it is for.
Economic health is a question of severity and duration. Only infants demand instant gratification.
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Only Fools don't plan ahead and prepare for serious threats...
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Consent Management