RE:Why is the Biden administration not refilling the SPR
Obscure1 wrote: The DEMS have a PR opportunity that boggles the mind. Refilling the SPR now with the price of WTI at $67 would accomplish a number of goals that governments never get:
1) keeping a promise....when Biden announced they were going to tap into the SPR, he set a target price to buy back in the range of $67 to $72 and they can fulfill that promise now
2) slowing down inflation by reducing transportation costs by reducing oil prices through SPR sales
3) making a profit.....when was the last time a government actually made a good business decision
The only two possible reasons that I can think of for not buying back oil at current prices are:
1) they think prices will go lower
2) they don't intend to refill the SPR as they believe it is no longer necessary
Comments?
Machines of war run on oil. The military complex will have that filled or the guy in charge of filling it will be replaced