RE:RE:RE:US storm could push oil over $100… And Biden screwed up SPR.Losing the midterms badly was an emergency to the Dems. $ 6 a gallon gas would have done it. Like I always say, politics has a locker room mentality . Win at any cost, use anything at your means to ensure the other guy does not win. They shut down the Hunter Biden story. Now the CNN's of the world dont say a peep about it , even though they know it's true. The big guy got 10% of that Ukrainian deal and he will walk away a free man and the leader of the "free" world. When we complain about corrupt China and Russia, always remember the corruption we have right here at home. But shhhh....nothing to see here. The Ukrainians and Chinese gave the loser crack addict millions and want nothing in return. LOL. If they really need to use the SPR now and it goes dry , just wait and see a civil war in the USA. t wont end well for Sleepy Joe.
Trunorth2019 wrote: Looking at the absolute SPR volumes is misleading due to the type of oil in the inventory and what is preferred by refiners. They dont like the high "sour" grades with high sulphor content which makes up a significant amount. I think the SPR is in worse shape than they say.
I think bidens move to use the SPR was short sighted and I kinda hope he pays for it. I am not political by nature but the SPR creation was for emergencies and was not to be used to get reelected for midterms. Time will tell. Really all just depends on how sudden and severe the upcoming recession becomes.