Discover and read the best of Twitter Threads about #powerburn
Most recents (1)
Thread: What are the Biden Administration’s choices to reduce oil and fuel prices? #OOTT #Oil
1- What has been done?
Asked OPEC members, US oil producers & refiners to increase production. All failed.
OPEC members were not interested. US producers & refiners cannot do so.
1- What has been done?
Asked OPEC members, US oil producers & refiners to increase production. All failed.
OPEC members were not interested. US producers & refiners cannot do so.
2- What are the current choices?
a- Restrict crude oil exports
b- Restrict fuel exports
c- Suspend environmental regulations temporarily
d- Suspend federal fuel tax
e- Remove sanctions on Iran & Venezuela
f- Resurrect relations with Saudi Arabia
g- Withdraw more from the SPR
a- Restrict crude oil exports
b- Restrict fuel exports
c- Suspend environmental regulations temporarily
d- Suspend federal fuel tax
e- Remove sanctions on Iran & Venezuela
f- Resurrect relations with Saudi Arabia
g- Withdraw more from the SPR
3- None of the choices above can reduce shortages or lower prices meaningfully before the US mid-term elections. Only a recession would reduce fuel prices and allow for inventories to rise.
Regardless, a recession might flip both houses to republicans. Democrats are stuck!
Regardless, a recession might flip both houses to republicans. Democrats are stuck!
