[deleted] t1_isxarvu wrote
Reply to comment by pookshuman in Biden to release 15M barrels from oil reserve, more possible by cacarca
That's exactly what 'Strategic' means. Save up when the price is low, use the reserve when the price is high. Common sense capitalism is a strategy.
No___ImRight t1_isxkhoa wrote
Then why did Democrats block Trump from filing the reserves up when oil was going for $24/barrel?
JohnnyUtah_QB1 t1_isxljlp wrote
Our reserves were stocked up at that time, that wasn't about replenishing reserves, that was an obviously transparent effort to bail out oil companies/investors.
No___ImRight t1_isxlxgx wrote
In March of 2008 we had 730 million barrels in reserve.
In March of 2020 (when we were talking about buying at $24/barrel) we were down to 640 million barrels.
We had room.
baxterstate t1_isy2931 wrote
We desperately need to bring down the cost of oil to prevent Republicans from winning the midterms. Isn’t that enough of a crisis?
JohnnyUtah_QB1 t1_isxn6l0 wrote
It wasn't needed. Obviously because even though we just heavily tapped it we had enough and still have plenty left, we didn't run dry.
We don't need to set our reserve policy based on what's best for the oil industry at that moment, that's beyond moronic. Likewise we don't need the government gambling on oil futures. That's the type of energy policy someone who comes up with the idea of injecting Lysol to cure Covid would come up with.
[deleted] t1_isyavby wrote
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