Originally posted by: Boilerman
"According to an analysis from the Department of the Treasury from July, the release of oil from the SPR helped lower the price of gasoline in the US by an estimated range of 13 to 31 cents per gallon. This report covers the period from March to July of 2022.[2] This means that, without the release of crude oil from the SPR, gasoline prices could be anywhere between 13 to 31 cents higher per gallon."
It should be noted that in March and April, Sleepy and friends were only pulling 10,000 barrels per month from the Strategic Petroleum Reserve, and this lowed prices by 13 cents per gallon. From May and September, Sleepy has been pulling out 25,000 30,000 barrels per month, thus artificially lowering gasoline prices by 31 cents per gallon. At least that's what the US Treasury and Boilerman believe. Kevin wouldn't know, because he doesn't want to know........plus Kevin has never sold commodities and this sort of thing baffles him. Much like he's baffled by large numbers.
Being a commodities trader doesn't mean you understand the markets, any more than buying and selling stocks means you understand the stock market. But feel free to think that you're an expert. LOL.
You can't even fucking read, can you? The report said "an estimated range of 13 to 31 cents," NOT 31 cents! And the period they discuss is five months---NOT the entire year. Boiler LUVVVS to cherry-pick stats.
Let's give Boiler an English lesson (God, he needs it so). They said "HELPED lower, not lowered." This means that the release from the SPR CONTRIBUTED to the price decrease, and they said COULD, not DID. So, they're speculating. Logic expert Boiler should know that if you say that A CAUSED B, you have to say HOW, And they didn't, because they were guessing.
All that aside, what the fuck is wrong with releasing oil from the SPR? The oil companies Boiler is a love-slave to could have increased production rather than forcing Biden to do the withdrawal. But they had NO INTEREST in stabilizing prices--the greedy assholes, whom Boiler worships.