HighHeat said:

https://www.opindia.com/2022/07/biden-administration-sold-million-barrels-us-strategic-petroleum-reserve-to-chinese-state-owned-firm-where-hunter-biden-is-an-investor-report/

HighHeat said:

The propagandists are burying this...

https://www.newsbusters.org/blogs/nb/kevin-tober/2022/07/07/nets-bury-biden-selling-oil-chinese-company-tied-hunter-biden

Much of Biden’s Oil Release Will Likely End Up in China, India

A large portion of the barrels that will be offered from the U.S. Strategic Petroleum Reserve will likely be exported to China and India, traders said.

That’s because the supplies will consist of sour crude, a type of oil that U.S. refiners are shunning due to its high sulfur content, which makes it more expensive to process. For some foreign buyers, though, U.S. sour crude is attractive because it’s much cheaper than the global Brent benchmark. 

The U.S. has already been selling oil from the SPR regularly this year, and a record volume of those barrels was exported in October. 

China and India have been actively buying U.S. sour crude produced in the Gulf of Mexico. So, it’s easy to see why New Delhi and Beijing agreed to participate in the coordinated reserves release led by U.S. President Joe Biden.

U.S. sour crudes are currently trading at about $75 a barrel, while Brent is at about $82.

HeavyG said:

HighHeat said:

https://www.opindia.com/2022/07/biden-administration-sold-million-barrels-us-strategic-petroleum-reserve-to-chinese-state-owned-firm-where-hunter-biden-is-an-investor-report/

HighHeat said:

The propagandists are burying this...

https://www.newsbusters.org/blogs/nb/kevin-tober/2022/07/07/nets-bury-biden-selling-oil-chinese-company-tied-hunter-biden

From Nov. 2021:

Much of Biden’s Oil Release Will Likely End Up in China, India

---

A large portion of the barrels that will be offered from the U.S. Strategic Petroleum Reserve will likely be exported to China and India, traders said.

That’s because the supplies will consist of sour crude, a type of oil that U.S. refiners are shunning due to its high sulfur content, which makes it more expensive to process. For some foreign buyers, though, U.S. sour crude is attractive because it’s much cheaper than the global Brent benchmark. 

The U.S. has already been selling oil from the SPR regularly this year, and a record volume of those barrels was exported in October. 

China and India have been actively buying U.S. sour crude produced in the Gulf of Mexico. So, it’s easy to see why New Delhi and Beijing agreed to participate in the coordinated reserves release led by U.S. President Joe Biden.

U.S. sour crudes are currently trading at about $75 a barrel, while Brent is at about $82.

*********

There was an additional coordinated response with 30 other member nations of the IEA to release oil from their strategic reserves.

Speaking of oil exports to China who was Prez during the May 2020 peak on this chart?

Have you looked at all the names of the other US investors in that Chinese owned company that Joe B. has also invested in? Are all those others (or their family members) also "criminals" in your mind?

Also, have you looked at US exports of refined petroleum products (like gasoline) over the last few years? We export a LOT of gasoline. Wouldn't it make sense to prohibit those exports if we wanted to lower the price per gallon within the US? However, would that actually lower the price/gal? Would Big Oil even allow their Congresscritters to support such an effort?

https://www.reuters.com/business/energy/us-refiners-urge-white-house-not-ban-fuel-exports-sources-2022-06-22/

JohnInCarolina said:

Ozzie_Isaac said:

JohnInCarolina said:

Some time ago, I made the point that there was little Biden could do that would significantly decrease the price of gas.

Someone mentioned that, well, he could increase US production or tap the strategic reserves.  

Biden did end up tapping the strategic reserves, which frankly, in my view was a mistake.  And the end result was a few cents on a gallon at best.

This is why we can’t have nice things.

This is a point we can agree on.  Releasing strategic oil reserves when we are staring down the barrel of WWIII, is a bad idea.  Unless you assume it will be nuclear.  Then it doesn't matter, might as well cash it all in while we can.

Ever read Farnham's Freehold by R. Heinlein?

Have not.  I never really got into Heinlein.  I was much more into Asimov and Ray Bradbury growing up.  These days I mostly read non-fiction, with the exception of the occasional book by Turow.  

JohnInCarolina said:

Ozzie_Isaac said:

JohnInCarolina said:

Ozzie_Isaac said:

JohnInCarolina said:

Some time ago, I made the point that there was little Biden could do that would significantly decrease the price of gas.

Someone mentioned that, well, he could increase US production or tap the strategic reserves.  

Biden did end up tapping the strategic reserves, which frankly, in my view was a mistake.  And the end result was a few cents on a gallon at best.

This is why we can’t have nice things.

This is a point we can agree on.  Releasing strategic oil reserves when we are staring down the barrel of WWIII, is a bad idea.  Unless you assume it will be nuclear.  Then it doesn't matter, might as well cash it all in while we can.

Ever read Farnham's Freehold by R. Heinlein?

Have not.  I never really got into Heinlein.  I was much more into Asimov and Ray Bradbury growing up.  These days I mostly read non-fiction, with the exception of the occasional book by Turow.  

I liked Asimov, Bradbury never much interested me.  Might have been the first few I tried.

I am not familiar with Turow, I do enjoy legal thrillers though.  Popcorn for the mind.  I should read more non-fiction, but usually 10 fiction to 1 non-fiction for me.  I do watch a lot of documentaries though.

Turow is just an excellent writer. He makes Grisham seem like a third-grader. 

WildmanWilson said:

This administration wants to bankrupt the oil industry and they have proven they don't mind driving prices up to push their eclectic vehicle agenda. They just hate to see it causing them to lose voters over the train wreck it caused. Yeah, they try to push it off on Russia but most people aren't buying it. Now the EPA is looking to attack our largest oil fields that produces 25% of our gas and 40% of our oil. I'll take" Elections Have Consequences" for a 1000 Alex... 

dmchicago said:

lousubcap said:

MBS has some kid of power- Thursday, regular unleaded reformulated gas around here was 4.59.99/gal.  This AM (Sat) it was $4.29.99/gal and this PM 4.25.99/gal.  Dang!

I wonder what we could get for Tucker?

Botch said:

lousubcap said:

MBS has some kid of power- Thursday, regular unleaded reformulated gas around here was 4.59.99/gal.  This AM (Sat) it was $4.29.99/gal and this PM 4.25.99/gal.  Dang!

Fistbumps For The Win!