RE:Will Biden replace the SPR?The "SPR" is similar to any insurance policy.
You don't purchase insurance hoping to put in a claim but it sure is nice to have in case of mishap/accident.
Net exporter of oil? Show me one week where USA exported more bbls of oil than they imported.
Not from the weekly EIA reports I read.
MBS doesn't want oil at $120. Not good for business.
He will get it where he wants it. The "sweet spot" where you don't destroy demand.
Nothing Sleepy Joe can do about it.......except release more bbls of the SPR.
And what happens when that runs dry?
Whether it's inflation, interest rates, the SPR, etc.
With Joe, it's all about 40 yr highs or 40 yr lows, but all on the wrong side.
A complete clown show.