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| Home Front: Politix | |
| Stunning Amount Of Oil Released By Biden Found Its Way To China, Other Countries | |
| 2022-07-07 | |
Biden has frequently touted the release of one million barrels of oil per day as an "unprecedented" move to "provide a historic amount of supply" as Americans face surging prices at the pumps. Indeed, the national average price of gas in the United States is currently $4.80 per gallon, according to AAA, with the national average temporarily surpassing $5.00 per gallon last month. However, Reuters found through customs data that at least five million barrels of oil were exported to Europe and Asia last month as the strategic reserve drains to its lowest level since 1986. American oil refiner Phillips 66, for instance, shipped 470,000 barrels of sour crude from Texas to Trieste, Italy, while Atlantic Trading & Marketing (ATMI) — a division of French entity TotalEnergies — exported two cargoes of 560,000 barrels each. Meanwhile, industry sources told the outlet that more crude oil was sent to China, India, and the Netherlands. When asked about the report, White House Press Secretary Karine Jean-Pierre said that she was not aware of the matter and needed to "look into it." Fuel costs across the world have risen since the Russian invasion of Ukraine — yet the Biden administration has pursued policies such as nixing expansions to the Keystone XL Pipeline last year and delaying new drilling permits. Beyond releasing fuel reserves, Biden has also resorted to pleading with oil companies to cut into their own profits. "There is no question that Vladimir Putin is principally responsible for the intense financial pain the American people and their families are bearing," Biden wrote in a recent letter to seven oil and gas companies. "But amid a war that has raised gasoline prices more than $1.70 per gallon, historically high refinery profit margins are worsening that pain." Biden has likewise set his sights on gas stations — which run on margins as low as 1.4%, according to industry research company IBISWorld. "My message to the companies running gas stations and setting prices at the pump is simple: this is a time of war and global peril," Biden said on social media. "Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now." The U.S. Oil and Gas Association — a petroleum industry advocacy group — responded to Biden by affirming that they are "working on it." The organization wished Biden a happy Fourth of July and asked him to "please make sure" the White House intern who posted the tweet "registers for Econ 101 for the fall semester." | |
| Posted by:Besoeker |
| #19 A company that was a part of this deal is partially owned by Hunter. Story with details submitted for tomorrows Rantburg. |
| Posted by: Cletle Shinese1880 2022-07-07 22:55 |
| #18 It is gapoening and has been for over 6 years. Via encrypted messaging apps like Telegram. |
| Posted by: Spanky 2022-07-07 19:48 |
| #17 ^Fine it didn't happen move on. |
| Posted by: Dale 2022-07-07 16:08 |
| #16 military gifts being sold on the dark web Links or it didn't happen. There are lots of claims about things on the "dark web" -- mostly by people who can't define it. |
| Posted by: Rob Crawford 2022-07-07 15:12 |
| #15 As its been said, can't have a real energy crises if there is a reserve. |
| Posted by: swksvolFF 2022-07-07 14:44 |
| #14 Another reason for treason. |
| Posted by: JohnQC 2022-07-07 13:51 |
| #13 Since he is obviously engaged in organized crime and corruption, Jo-jo needs a good mob name. My vote is "Bugsy" Biden. |
| Posted by: Mercutio 2022-07-07 13:46 |
| #12 Instead of blaming the owners of gas stations they'll probably blame the captains of the oil tankers. |
| Posted by: ruprecht 2022-07-07 12:59 |
| #11 On paper it looks like the oil patch makes tons of money, but that's not exactly true. Rigs cost between $100-$200k a day now onshore. Offshore it's typically a 1 million dollar minimum. I've been offshore, sitting in my metal box waiting for an entire 3 week hitch for the currents to change, went home, came back 3 weeks later and we were still waiting. At 1 million per day. Paying for that is where all this 'profit' goes. Paying for seismic surveys, etc. Drilling isn't cheap and right now, we can barely keep our rigs operating due to lack of spare parts. Nobody inside the patch says we're in a boom. |
| Posted by: Silentbrick 2022-07-07 12:57 |
| #10 When asked about the report, White House Press Secretary Karine Jean-Pierre said that she was not aware of the matter and needed to "look into it." IOW, her handlers had not yet concocted a lie for this subject. |
| Posted by: Abu Uluque 2022-07-07 12:53 |
| #9 For the love of God, this man cannot remain in power. |
| Posted by: Abu Uluque 2022-07-07 12:44 |
| #8 NN2, I don't follow your post. There sure are a lot of empty oil company lots here in Oklahoma. Chesapeake is gone, Four Point gone, GEO 720 gone, R.K. Pinson sucking, where is E.O.G., Black rock gone, Apache gone. Not to mention Oneok,DCP Mainstream. The oil patch is not making money. Now if you mean the big boys you might be right. |
| Posted by: bman 2022-07-07 12:21 |
| #7 Why learn how gasoline gets into the tank when you can remain fundamentally ignorant and blame profiteers and saboteurs. Even get to chant a Mantra, "We know that Putin is to blame for the high prices." "please make sure" the White House intern who posted the tweet "registers for Econ 101 for the fall semester." I laughed. |
| Posted by: swksvolFF 2022-07-07 10:47 |
| #6 As long as he gwts hus ten percent. |
| Posted by: Besoeker 2022-07-07 10:15 |
| #5 Biden is basically transferring from the U.S. Strategic Reserves to the China Strategic Reserves. This can't be good. |
| Posted by: CrazyFool 2022-07-07 10:13 |
| #4 'Found it's way', what a delightful turn of phrase. For some reason it brings back an adversarial conversation years ago in rural Oklahoma, around 2 AM. Yessir, that unmarked 80 bbl bobtail just 'found it's way on to one of our leases, just didn't expect anybody else out there. Sri Lanka, Holland, Pakistan and transparent theft here before our very eyes. There will be a breaking point, and there will be a reckoning. |
| Posted by: Cesare 2022-07-07 08:10 |
| #3 The Oil industry is making a killing right now. All simply by tossing some $$$$$, Do nothing $ million Board Member Seats and/or consulting jobs to family members of a few Elite DC SWAMP'ers. |
| Posted by: NN2N1 2022-07-07 06:40 |
| #2 My concern is no mention of refilling reserve or military gifts being sold on the dark web by Ukraine. Everything the liberal touches turns to you know what. |
| Posted by: Dale 2022-07-07 04:04 |
| #1 Blame everyone but the US government. The real villains of this story. They hate our guts. They want gas up to $10 a gallon to hurt us. They want all of our cars off the road. They all drive Tesla electric vehicles anyway, so what the fuck do they care? It doesn't affect them at all. |
| Posted by: Albemarle Snerert7268 2022-07-07 01:22 |