“Biden releasing one million barrels of oil per day
to cool pricesto placate voters ahead of the midterms.”well yeah that’s the real reason
Also to cash in on the high prices.
I’m no investment banker but it doesn’t take a genius to understand “buy low, sell high.”
Not suprising, given there are elections coming up. Politicians love winning elections.
Global daily oil consumption is about 100 million barrels per day. So these 180 milion barrels will be less than two days worth of supply. Besides, the main problem today is not lack of oil, but lack of diesel. I really doubt that the release will have a big effect on prices beyond the next few days.
I don’t really care why he’s doing it. This fulfills two goals for me.
- I stop hearing about gas prices from random dipshits who believe the 2020 gas prices had nothing to do with everyone staying home and just a virtue of who was in office.
- The less oil in reserves, the more pressure to do away with oil dependence which is what I want anyways
It’s time we got off oil anyways. Drain them faster!
Alternate solution: stop relying on oil
Rapid climate change is continuing to get worse
Not only the voting thing, but mostly that the US has already realized that without Russian collaboration they are energetically doomed thanks to the capitalist economy… Of course still in denial.
If it gets to like $7/gallon I might have to take the bus that gets me to work late. Not really worth it till then
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If US admin had any brains at all then they wouldn’t be in this situation in the first place. It’s a problem of their own creation.
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Sure, the policy US has been pursuing since the 90s culminated in the crisis. However, it was Biden who started the economic war which the west was clearly unprepared for.
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US is not a peaceful country, it’s been at war 225 out of 243 years of it’s existence. Meanwhile, US trying to wage an economic war they clearly didn’t prepare for is leading to predictable results now.
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Being prepared is a prerequisite for making rational decisions. While it’s not only US that’s doing this, it’s pretty clear that US has been the main force behind this crisis and this article does a good job explaining the intent behind it.
