Posted by laramiebob on 9/17/2022 3:22:00 PM (view original):
Wonder why they all go to Texas..............must be a special place, eh?

As President Biden continues depleting the Strategic Petroleum Reserve, the administration is reportedly considering replenishing its supply once prices drop below $80 per barrel.

In March, the president ordered the release of 180 million barrels to address supply shortages and skyrocketing gas prices in the U.S., though it had a minimal impact. Now, officials are “looking to protect US oil-production growth and prevent crude prices from plummeting,” Bloomberg reports, according to sources.

It was only two years earlier that Democrats blocked former President Trump from filling the reserve when oil was hovering around $24 per barrel.

Trump in March of 2020 was looking to stabilize the oil industry after Covid-19 hit in 2020 and crushed global petroleum demand. With oil at the time priced at about $24 a barrel, Republicans proposed spending $3 billion to fill up the reserve. But the idea became a political football in larger negotiations on trillions in coronavirus relief, with Senate Democratic Leader Chuck Schumer proclaiming that his party had blocked a “bailout for big oil.”

That decision effectively cost the US billions in potential profits and meant Biden had tens of millions of fewer barrels at his disposal with which to counter price surges. (Bloomberg)

The reserve, which has a capacity of 727 million barrels, is reaching “crisis levels." After a recent drawdown, it stands at 442 million barrels, the lowest point it's been since 1984.

Not a meme stock or a collapsing currency, this is America's Strategic Petroleum Reserve, and this is before today's record release of 8.4mb, the largest ever. pic.twitter.com/yodSXxdjoO

— James Lavish (@jameslavish) September 12, 2022

The administration pushed back on Bloomberg's reporting about refilling the reserve, however.

“Claims that we are currently considering buying oil once it dips below $80 a barrel are inaccurate," said Energy Department spokeswoman Charisma Troiano.

“The Department of Energy proposed an approach months ago to replenish the Strategic Petroleum Reserve, and that approach does not include any such trigger proposal. As we said then, we anticipate that replenishment would not occur until well into the future, likely after fiscal year 2023,” the spokeswoman added.

Posted by DoctorKz on 9/17/2022 5:18:00 PM (view original):
We could throw trillions of dollars at the planet and not have a clue as to how to know if/what the impact would be. We can't get close on defining what the tropical depression in the Caribbean will do in the next 72 hours, but we can predict out 50 years? Poor Greta has been hoodwinked... Cleaning it up, and putting people into a panic over it need to be addressed. Idiots like Gore and Kerry don't have a plan to fix it. They only know how to rob people of their money and sanity. Like climate change is something new on this 4.5 billion years old rock...

Posted by Jetson21 on 9/17/2022 10:02:00 PM (view original):
It amazes me how people that have no scientific background are repulsed by a consensus of at least 99% of scientists in the weather and climate and environmental fields all over the world.

Sure one can find someone saying no because they get a rise out of it.

The anti science bunch and they are probably mostly or almost all maga republicans
do not trust science because they feel insecure about their own uneducated background.
It makes them feel good to repudiate the hated scientists…those know it alls.
So they claim that their common sense is just what the scientists are missing.

I am not trying to psycho analyze anyone but it explains to me the glorification of a lack of education and pretending to be superior to the science community.