Gas Math.
300 miles a week, 30 miles a gallon, the releases from the SPR saved you $3.10 at most. That's less than a dozen eggs or something (I don't pay attention to those prices either).
Make an argument that depleting the SPR wasn't completely self serving and stupid.
Replies to: “Gas Math.”
I don't understand why this is hard to understand
Oil price is inversely related to economic performance. When prices rise, growth slows. The entire economy - not just the price at the pump - suffers. People lose jobs.
The whole purpose of the SPR is to provide insurance against price shocks. It is insurance for the economy.
Of course it should be tapped into during supply interruptions. That's its whole reason for existence.
I don't know why this is hard for you to understand...
The SPR is not even close to big enough to do what you say it should. And we can see the results, twice. This isn't a hypothetical, prof.
It is one tool of many. Private-sector stocks have also helped. And China, most of all.
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Depleting the SPR was stupid. Plain and simple. It should be saved for a true strategic emergency.
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You've always been consistent on this Ned. Maybe if they started buying low and selling high....
....they at least make a contribution to the deficit. But I suspect they are always selling low and then buying high again to replenish.
It has most often become political tool to influence prices on a very short term basis for the person in power. As mentioned, the amount released is just not significant for more than that.
I would be curious to see how many releases happened in non election years.
Especially stupid for a net exporter of oil.
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I've taken a consistently hard stance on this, regardless of who is president (unlike some here).
Only deplete the SPR if there is a declaration of war. That would require an act of Congress, and assure that we were truly facing a threat that the SPR was intended to handle (or should be intended to handle). Economic situations and other non-war events, including non-war military interventions, should not rely on the SPR.
And you've been consistently unaware of the reason for the SPR's existence...and therefore tilting
at the wrong windmill...read the linked bipartisan explanation for having an SPR...just as other countries do.
Link: https://bipartisanpolicy.org/explainer/how-the-u-s-strategic-petroleum-reserve-works/
And consistently wrong.
It's not there to help during world war three. It is there to provide temporary relief from price shocks.
That's it.
I'm arguing that it doesn't address your problem, and should address mine. It is a policy argument.
Since 2015, Congress has authorized sales of oil from the SPR to fund our deficit spending. Almost 20% was sold for that purpose, above and beyond other relaseses. WTF?!
Biden released 45%, taking the SPR to a 40 year low. But, now we are hearing that Trump's release is taking us even lower. Both sides are very wrong in this, IMO.
You want to have a different SPR, then. It is not designed for your purposes.
Both presidents were 100% right to tap into it. That is why it was created.
You might want it to be used for other purposes (as if we would need it during world war 3 or something), but you are not talking about current reality.
You have an overly simpistic view of war.
You seem to think that "WW3" is the only way we will have a war, and that it will just be a simple exchange of nuclear missiles with Russia. That seems incredibly naive.
Back to our discussion: Yes, I do have a more conservative view, just like I think we should cut spending to reduce our debt. Crazy idea, I know. You can sit here and blame the Right for our deficit spending, and others can blame the Left. I blame both. I guess that is "not talking about current reality" in your view, so it is just a waste of time. In that case, the Republic is doomed. Granted, you may be right on that. Neither side seems to want to fix our spending problem.
It always is stupid imho.
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More math...
The world consumes 105M barrels a day, so the release of 180M by Biden and 172M by Trump is a drop in the barrel.
College professors think this saved us from catastrophe.
Fact check: No one said that the released oil "saved us."
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Which jobs were saved by a temporary reduction of 13-31 cents per gallon?
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Have you considered hitch hiking to protest? An “Opposable Thumb” movement, so to speak.
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I was just out doing donuts in the pasture in my F-150.
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Man, things are really kinky in Iowa! I'll never eat a glazed donut again.
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As a doctor you should have known better.anyways.
Also I'll save you the trouble of posting this.
Link: https://youtu.be/qOC7hA1famw?si=gMKGP27_vA6IFGuW
Consent Management