Using the Strategic Petroleum Reserve to make profit for the tax payers
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Sounds logical, but I worry about mutating the strategic petroleum reserve into a profit-making vehicle. Feels like that is going to lead to abuse and other very bad things in the future.
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https://news.yahoo.com/schumer-urges-biden-tap-oil-213422664.html
Senate Majority Leader Chuck Schumer (D-N.Y.) urged the Biden administration on Sunday to tap into the nation's emergency petroleum reserves in order to curb soaring gas prices, Reuters reported.
Schumer said at a press conference that consumers need "immediate relief at the gas pump" and urged the administration to approve sales from the Strategic Petroleum Reserve.
When asked whether President Biden would be willing to open the Strategic Petroleum Reserve, National Economic Council director Brian Deese told CNN's "State of the Union" on Sunday that "all options are on the table."
"We are very committed to do everything that we can to make sure that American consumers don't bear the brunt of high gas prices and value tile (I assume he said 'volatile') energy prices," Deese said.
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Charles Lane (WSJ) said the biggest mistake of doing this is letting the people think that the president actually has some control over gasoline prices.
"Now look here, you Baltic gas passer... " - Mik, 6/14/08
The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.
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No one but he can claim he tried to lower prices and ignore all the stuff he has done to discourage domestic production.
“I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill
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No one but he can claim he tried to lower prices and ignore all the stuff he has done to discourage domestic production.
@mik said in Using the Strategic Petroleum Reserve to make profit for the tax payers:
No one but he can claim he tried to lower prices and ignore all the stuff he has done to discourage domestic production.
You realize that he will be soon fighting a 15 billion USD claim from TCPL under chapter 11 of NAFTA over the cancellation of Keystone XL. I suspect the Alberta Government will file also for and additional 1.5 billion in losses.
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@mik said in Using the Strategic Petroleum Reserve to make profit for the tax payers:
No one but he can claim he tried to lower prices and ignore all the stuff he has done to discourage domestic production.
You realize that he will be soon fighting a 15 billion USD claim from TCPL under chapter 11 of NAFTA over the cancellation of Keystone XL. I suspect the Alberta Government will file also for and additional 1.5 billion in losses.
@renauda said in Using the Strategic Petroleum Reserve to make profit for the tax payers:
@mik said in Using the Strategic Petroleum Reserve to make profit for the tax payers:
No one but he can claim he tried to lower prices and ignore all the stuff he has done to discourage domestic production.
You realize that he will be soon fighting a 15 billion USD claim from TCPL under chapter 11 of NAFTA over the cancellation of Keystone XL. I suspect the Alberta Government will file also claim for and additional 1.5 billion in losses.
Good. Sops to your voters have consequences for the country.
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No one but he can claim he tried to lower prices and ignore all the stuff he has done to discourage domestic production.
@mik said in Using the Strategic Petroleum Reserve to make profit for the tax payers:
and ignore all the stuff he has done to discourage domestic production.
