To be fair, releasing oil from the National Strategic Reserve *can* be an effective way to lower prices.
But not in isolation.
It works to deal with some temporary spike in prices, like if a major oil producer decides to halt production, or a refinery blows up.
But not in isolation.
It works to deal with some temporary spike in prices, like if a major oil producer decides to halt production, or a refinery blows up.
It works because it signals to the speculators that this POTUS is committed to increasing the supply of oil to lower prices. So future prices are most likely to be lower, so they short oil futures, and the price drops.
But if EVERYTHING else you say and do signals that you aren't committed to increasing supply, that you kinda actually *want* higher prices, then it does nothing to convince any speculators. They still expect prices to rise.
The release from the Reserve doesn't last, prices rise.
The release from the Reserve doesn't last, prices rise.
Because everyone, and I do mean *everyone*, recognizes it is just a deception.
Everything Biden has done regarding the energy industries has been to reduce supply. He cut off drilling permits. He cancelled pipelines. He supports CA's regulations on gas vehicles.
Everything Biden has done regarding the energy industries has been to reduce supply. He cut off drilling permits. He cancelled pipelines. He supports CA's regulations on gas vehicles.
His energy secretary states the goal is to transition to electric cars and "green" debacles.
https://twitter.com/RNCResearch/status/1462870579342622723
His Press Secretary is pleased with higher energy prices, because it makes Green Debacles seem less extravagantly expensive:
https://twitter.com/DailyCaller/status/1459239953678966785
With these actions and these statements telegraphing intent, releasing oil from the SPR is a contradiction. Being a contradiction, it is for perception only. It is a flat-out lie.
They do not intend to encourage lower prices.
They just don't want to be blamed for higher prices.
They do not intend to encourage lower prices.
They just don't want to be blamed for higher prices.
They think you're stupid. They think you can be fooled by this.
It's just a bonus for Democrats that it also damages our preparation status for Defense.
It's just a bonus for Democrats that it also damages our preparation status for Defense.
@Oilfield_Rando comes in to slamdunk from downtown:
https://twitter.com/Oilfield_Rando/status/1463203743613206532
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