Imagine that. Making money.
Imagine that. Making money.
Originally posted by: MisterPicture
Business Insider: The US made $4 billion selling oil this year [2022] on President Biden's unprecedented releases from the Strategic Petroleum Reserve
Kind of funny how this article, which I had never seen until reading it just a few minutes ago, was in line with my post. 382 Million barrels in the reserve is pretty close to the around 400 million I posted, and the US has sold 4.7 million barrels, and I posted about 5 million barrels had been shipped. Apparently there is good, reliable info out there, if you look for it.
Bottom line......The title to this thread makes it sound like Biden sold all of the oil from the Reserve to China, which was not the case. Good old Yellow Journalism at it's finest.
He sold oil out of the reserve at an average of $95/barrell....And he started replenishing it with $70/barrell
Someone help the shortbus kid and explain how thats a profitable venture for taxpayers.
Originally posted by: PJ Stroh
He sold oil out of the reserve at an average of $95/barrell....And he started replenishing it with $70/barrell
Someone help the shortbus kid and explain how thats a profitable venture for taxpayers.
I'll leave that for Kevin Lewis, the smart kid in class, but if the US is selling barrels of oil for $95, and buying them for $70, the US is making $25 for each barrel of oil. I don't know how this affects the taxpayers, so I'm in the same boat as you.
Originally posted by: Edso
I'll leave that for Kevin Lewis, the smart kid in class, but if the US is selling barrels of oil for $95, and buying them for $70, the US is making $25 for each barrel of oil. I don't know how this affects the taxpayers, so I'm in the same boat as you.
There is data on Hunter Biden's mystical magical radioactive laptop that absolutely PROVES the TRUTH--the US lost eleventy squillion dollars selling all our oil to space aliens from the planet Fozzbork Six.
I know this because I watch FOX NOOZE!
Didn't mean to come off as a dick, Kevin. I figured that if anyone knew how this affected the taxpayers, it would be you. I mean, seems like a decent deal if you can make the country $25 a barrel profit on oil.
Originally posted by: Edso
Didn't mean to come off as a dick, Kevin. I figured that if anyone knew how this affected the taxpayers, it would be you. I mean, seems like a decent deal if you can make the country $25 a barrel profit on oil.
No, I wasn't saying you did. I was mocking the OP and the garbage-brain he was quoting. I agree that there was an actual profit made, but that's kind of peripheral and the release of 1.25% (!!!!!!!!!!!) of the Reserve would have been justified even if it had ultimately cost the US money. In the grand scheme of things, the amount of profit or loss was small beer.
This thread was never about that, anyway. It was an exercise in exaggeration, fact-twisting, and hyperbole from our resident lover of such things.
