RE:Raymond James …lolFrank, you are not the only dinosaur left. There are many others including myself
who are alive and present and are not about to go extinct anytime soon.
Totally agree about politicians doing whatever it takes to get elected and to stay in
power. Biden and the Dems have accused the GOP of that sin but get upset and
angry if they are accused of doing the same thing. The hypocrisy on both sides is
laughable but also quite sad. None of them will admit to anything and yet both are
guilty of it. The high crimes of the GOP were unprecedented in scope. Trying to
overturn an election by spinning a false narrative is what a 3rd world dictator would
try and do. Say goodbye to democracy.
Biden and the dems are not quite as bad but using the SPR as a personal political tool
to stay in power is way beyond fairness and a complete missuse and abuse of what
the SPR was meant for. The Dems got caught in their own mess when the Russian
Ukainian conflict exploded into full war and the price of oil shot up. Biden and his
anti oil and anti fossil fuel messages had turned the public against fossil fuels and
created animosity in the oil & gas industry. So when he needed co-operation from
the oil companies to produce, they said sorry, no way, why should we. So he and
his advisors came up with the scheme of raiding the SPR as an alternative to keep
gas prices down and make himself look good.
Bottom line, never ever trust politicians. They are most dangerous when they are
desperate or when they suddenly get ideas that have monumental consequences.
Now however, I think oil might be able to finally find a truer price discovery as the
real supply and demand metrics begin to exert themselves in the market. Long
on oil.