Gasoline prices Skyrocketing!

Bradrock

Veteran and General Yakker
Joined
Jun 7, 2017
Messages
1,513
Location
Alton Mo.
Tagline
---I run with Scissors
Well I see tonight that the huge draw down on our National strategic petro reserve is actually going to Europe, India & CHINA.
So gas prices should be dropping soon ? I don't understand the strategy of this?
 

mlucitt

Veteran and General Yakker
Joined
Jun 24, 2011
Messages
2,895
Location
Jacksonville, FL
Even worse is the reasoning behind the use of the Strategic Petroleum Reserves. From U.S. News:
"About 1 million barrels per day is being released from the Strategic Petroleum Reserve (SPR) through October. The flow is draining the SPR, which last month fell to the lowest since 1986. U.S. crude futures are above $100 per barrel and gasoline and diesel prices above $5 a gallon in one-fifth of the nation. U.S. officials have said oil prices COULD be higher if the SPR had not been tapped."
"The SPR remains a critical energy security tool to address global crude oil supply disruptions," a Department of Energy spokesperson said, adding that the emergency releases helped ensure stable supply of crude oil."

Two things wrong with that last statement - 1. The Strategic Petroleum Reserves are no longer a critical energy tool because they were designed for use during a National Emergency when no other source was available and 2. The Strategic Petroleum Reserves were there to address OUR crude oil supply disruptions, not any other country. I'd like to know who gets the money from the sale of our crude oil...

The worst part is that White House/Green Squad has no plans to ever replenish the Strategic Petroleum Reserves. It is their goal to drain this valuable emergency stockpile as part of the effort to rid the USA of all fossil fuel use. Can someone tell them that B-52 and B-1 bombers can only use fossil fuel!!!
 
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