Biden to release 10M more barrels from
Strategic Petroleum Reserve in November
in wake of OPEC+ cuts
Posted By: NorthernDog, 10/5/2022 2:21:37 PM
President Biden on Wednesday said he would release 10 million more barrels of oil from the U.S.’s Strategic Petroleum Reserve (SPR) in November in a move to counter raising gas prices again. His decision was announced just hours after Organization of the Petroleum Exporting Countries (OPEC+) said it would be cut oil production by 2 million barrels a day. The cuts will restore the oil market for top producers like Saudi Arabia and Russia but are also expected to drive up costs at the pump globally. But Biden’s attempt to circumvent the spike in gases prices, expected to hit the
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California gas prices hit new record highs,
with OPEC+ action sparking worsening economic threat 8 replies
with OPEC+ action sparking worsening economic threat 8 replies
As gas prices hit record highs in Los Angeles County on Wednesday, a pledge by OPEC+ to reduce its oil production by 2 million barrels a day brought new concerns about more economic pain to come. California is facing surging oil prices in the wake of shutdowns at several oil refineries that produce a specific grade of fuel for the state. Prices began to creep up in September after months of declines. And unlike the nationwide rise in gas prices over the summer, this most recent spike is mostly confined to California and the West Coast. There was also debate
Biden to release 10M more barrels from
Strategic Petroleum Reserve in November
in wake of OPEC+ cuts 26 replies
Strategic Petroleum Reserve in November
in wake of OPEC+ cuts 26 replies
President Biden on Wednesday said he would release 10 million more barrels of oil from the U.S.’s Strategic Petroleum Reserve (SPR) in November in a move to counter raising gas prices again. His decision was announced just hours after Organization of the Petroleum Exporting Countries (OPEC+) said it would be cut oil production by 2 million barrels a day. The cuts will restore the oil market for top producers like Saudi Arabia and Russia but are also expected to drive up costs at the pump globally. But Biden’s attempt to circumvent the spike in gases prices, expected to hit the
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He did a lot of things during his Florida visit!
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Coming soon: Polygamy
19 replies
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Goodbye, Fort Hood: Austin approves plan
to nix Confederate names from U.S. military bases 17 replies
to nix Confederate names from U.S. military bases 17 replies
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Investigators Believe They Have Enough
Evidence to Charge Hunter Biden with Tax,
Gun Crimes: Report 15 replies
Evidence to Charge Hunter Biden with Tax,
Gun Crimes: Report 15 replies
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Comments:
The Old Fool is playing a dangerous game with our energy supplies.