Iran v Israel
- Thread starter Dakar34
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Like I said though, it didn’t lower costs. It just changed the accounting. It’s really no different than going to the gas station and buying gas with cash in your right pocket, but thinking that if you pay for some of the cost with the credit card in your left pocket, you are somehow saving money. Eventually, that bill comes due. DOE is repurchasing oil for about the same price as it cost when the decision was made to use the SPR. It’s no different than any time the government does anything else that they market as free. Whether it’s healthcare, student loan forgiveness, etc. you’re still goijg to get the bill in one form or another. So although it may create the perception of lowered prices because what you see at the pump is less, the cost is still there. If they wanted to really save some money, they’d have loaded up in 2020 like Trump wanted to when oil was basically free.
Our refineries are mostly set up to process heavy sour crude, which gives us the products we need for our market. The oil from fracking in the Permian is mostly sweet light, which we don't need so much of, thus we export it. Venezuela produces heavy sour and we bought that, but their production has plummeted. Canadian tar sands were going to make up for the shortage, which is why they were building the Keystone pipeline. We also get some from Mexico, but they've said they won't be selling us as much in the future. Transportation costs are lower from closer areas, of course.
You are really confusing things and reaching incorrect conclusions by changing the topic.
"Eventually that bill comes due." Of course. Anyone with a brain knows that. But Biden kicks that can down the road. It has not come due yet. Biden's timeframe right now does not go past November.
The fact is that in the present, putting more oil onto the market did depress prices/price increases. Again, basic Econ 101. Now, will it cost taxpayers when (if) it is eventually replaced at higher prices? Surely. But that day has not arrived.
Just another selfish act by a politician who cares less about taxpayers.
We released somethjng like 260 million barrels over the course of a year. The top 10 oil consuming countries go through 100 million barrels per day, not to mention the rest of the world’s consumption. The SPR release did not result in a noticable change in oil price(and you would know this if you looked at oil price history), and any very minor effect that it did have would be inversely proportional to the very minor increases that would occur during replenishment. Like I said, it’s just an accounting change and a lot of people see through it.
The bottom line is, gas prices have been higher since Biden was installed than before and that is in a large part due to actions taken by the administration. They do not care about lowering gas/oil prices, they are just pro Iran.
cycleguy2300
TGT Addict
But at a rate lower than it otherwise would have, which resulted in a lower price than had the SPR not been released.
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cycleguy2300
TGT Addict
Its a basic principle of econ, but surely you know better than those with training, education and experience...
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it’s so basic that you don’t understand it nearly as well as you think even though I already explained exactly why what you think is true is not true. You’re arguing just to argue and we’re pretty far from my original point that Obidens actions in Iran are based on him favoring Iran, not gas prices.
Truthfully, they leave me no one to root for. I'll take Israelis over gang-raping, baby murderers though.
What you need to know about the Iranian attack on Israel but will not find in your mainstream news provider
Iran’s weekend massive drone, cruise missile and ballistic missile attack on Israel has now been covered in the global media, with the headlines announcing that 99% of the barrage was shot down by …gilbertdoctorow.com
