* President Biden announced the release of 180 million barrels of oil over six month from the Strategic Petroleum Reserve later on Thursday
* He said record high gas prices had two roots: the pandemic and Putin's war
* He will also ask Congress to impose fees on oil and gas companies that lease federal land but are not using permits to produce energy
* And he will use the Defense Production Act to accelerate switch to electric cars
* The White House has been desperately looking at ways to lower fuel prices
* Oil prices have surged since President Putin invaded Ukraine
* At the start of the year the price of a gallon was about about $3.30, while today it is averaging about $4.22
* It would be the largest release in the near 50-year history of the SPR
President Joe Biden said Thursday that record gas prices were caused by the pandemic and Vladimir Putin's war in Ukraine as he unveiled a two-pronged plan to increase supply and reduce demand.
He announced he would release a million barrels of oil per day from the nation's strategic reserve for the next six months and accelerate the switch to electric vehicle.
Read more ....
Update #1: Biden blames Putin for high gas prices (Washington Times)
Update #2: Biden to tap oil reserves, press oil sector to hike production (Politico)
WNU Editor: Of course they will not .... White House won’t name oil and gas companies it’s blaming for high prices (FOX News).
I have a question. Is President Biden's reasons for high gas prices working? You tell me.
6 comments:
That will play well to the uninformed and clueless sheeple who are fed a daily ration by the MSM.
I blame Biden, crony capitalists and the apparatchiks.
Hoax Person Jen Psaki (aka The Mouth of Biden) are spinning the 10 year lease of parcels.
What the oil companies are doing is no different than what Hollywood does. People and companies in Hollywood buy options on books.
How to Option a Book for Film Adaptation
The movie studios are trying to keep the hopper full. It is imperative to option many books/ideas in order to stay in business. They option more novels than they have production capability to produce. They option what they think has potential to make money. They make an initial assessment and then reassess and reassess during script writing, scheduling conflicts and other things. A script night look good but a producer might get cold feet or might see something else at the current time that has more profit potential.
Oil companies do the same thing except they option parcels instead of novels.
It is much harder for oil companies than movie studios. They have to prioritize more detailed seismographic surveys to give a closer assessment of the parcel and compare it to other parcels. Once they decide amount a subset of parcels they have optioned that they want to test drill, they still have regulatory hurdles.
So yes I blame lying Biden.
With Biden it's always the fault of others! Is he absolute perfection? Given all the bullshit he spouts all day long, we can doubt it.
I call him guilty.
For god's sake 180 million barrels is something like a week of Russian production. And we're gonna spread it out over 6 months? To lower the price of a barrel by what, a penny?
"Lawson has been published in numerous major publications throughout his career, covering war, sports, crime and many other subjects. In addition, one of his later works, Arms and the Dudes about the life and crimes of Efraim Diveroli and David Packouz, was adapted into the 2016 film War Dogs, which starred actors Jonah Hill, Miles Teller, Ana de Armas, and Bradley Cooper (who also executive produced the film).[3][4] In addition to War Dogs, several of his other works have been optioned, including Octopus (about hedge fund trader and Ponzi scammer Sam Israel), by HBO, a GQ article called "The Knife" about LA gangs which was acquired by CBS,[3] and a New York Times magazine feature on the first expedition to reach the North Pole, titled "Ice Pack" and in development with Sony."
https://en.wikipedia.org/wiki/Guy_Lawson
What can Hollywood do with these?
Adaptations are hot as ever right now, and with services like Netflix and Amazon continuing to expand their programming lineup, the need for interesting, established material is pretty high. Well Hollywood, we've got some options — and by "some," we mean 50 books and series that have either yet to be acquired or whose development appears to be STALLED. Each would either make for a great film, an addicting series, or some prestige-y thing in-between. Call this our adaptation must-list — what are we missing? —David Canfield
https://ew.com/books/50-books-to-adapt/
9:13 is absolutely correct.
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