Biden releasing oil from reserves to be sold to China and India

[Monte1076]

8 minutes ago, Old49er60 said:

Hence why Biden got more than one country involved. Something most on here ignore. The true facts of this are just brushed aside so politics can be argued.  Also as of yet they haven’t 

But again, if you get multiple countries, what's to stop OPEC from reducing their production by that amount as well? Then you're right back at square 1.

[Monte1076]

4 minutes ago, Old49er60 said:

 I mean to you everything would be wrong but the great trump would be right. 

Show me where I've ever said that. Give me a quote.

[Monte1076]

15 minutes ago, Old49er60 said:

Everything you post is negative too it it. So give an opinion instead of riding the fence

That doesn't mean I would be in favor of whatever Trump would have done, does it?

But let me ask you this: How much of a dent will releasing about 2.5 days worth of the strategic petroleum reserve actually make in the pricing? And when? Oil (and gasoline, from what I understand) are traded on commodities markets (futures trading, if I'm not mistaken), so even releasing it NOW might not affect pricing for a couple of months, at least. Not only that, but we have to replenish what we use.

[Monte1076]

22 minutes ago, Old49er60 said:

They already said that….he got multiple countries involved.

so direct question should he have done nothing or done something? 

I can't speak with real authority on the subject (and truthfully, it's likely none of us on here can), but I don't know that it would really make much of a difference either way.

Do you think it's really going to do anything? Many of our elected officials like to talk a big game, but most of them (Democrat and Republican alike) have shown time and time again that we're watching a performance.

And again, it's not like all these countries release all this oil now, and the price goes down tomorrow. Especially if the release (regardless of how many countries go along with it) is offset by a reduction in production.

[DaveTV1]

10 hours ago, Monte1076 said:

That doesn't mean I would be in favor of whatever Trump would have done, does it?

But let me ask you this: How much of a dent will releasing about 2.5 days worth of the strategic petroleum reserve actually make in the pricing? And when? Oil (and gasoline, from what I understand) are traded on commodities markets (futures trading, if I'm not mistaken), so even releasing it NOW might not affect pricing for a couple of months, at least. Not only that, but we have to replenish what we use.

I did notice gas prices went from $2.77 down to $2.68 one of the first times it has happened during a holiday weekend.  With that being said unless we begin producing oil again gas prices will only go back up.  

[RETIREDFAN1]

23 minutes ago, Old49er60 said:

Actually producing more now than 2017, 2018, 2020. 

Evidence, Matlock.......

[HearEmaGrowlin]

On 11/25/2021 at 11:02 AM, Old49er60 said:

Oh I agree last year they were, and he killed the economy inside of one year. I mean if we are going to play this game lets play it. So by being completely inept he allowed the entire US economy to tank inside one year. Thank goodness biden has caused such a tremendous recovery, just look at companies profits and the stock market. 

This is a huge joke of a post.

[RETIREDFAN1]

30 minutes ago, HearEmaGrowlin said:

This is a huge joke of a post.

99% of his fit that description.....