Oil prices are blowing up again

Oil futures are trading at the highest prices in 7 years today. Biden responded by tapping the Strategic Petroleum Reserve for the second time in his first year in office. Dude might actually empty reserves at this rate trying to fight inflation during his four years in office, lol.

3 thoughts on “Oil prices are blowing up again

  1. Free advice for Brandon:

    -Permit the use of preexisting approved leases in ANWAR (Alaska) to put more volume into the Alaskan oil pipeline that is severely underutilized.
    -Finish the Dakota access pipeline.
    -Re-approve the preexisting energy leases in New Mexico, Arizona, NE Atlantic and Gulf of Mexico.
    -Retract the stoppage of the Keystone pipeline to permit efficient oil transport shipments from Canada.
    -Stop blocking the expansion of coastal oil refineries in Texas, Louisiana and Alabama (regulatory issue), as well as Northwest, Northeast and Southeast Seaboard.
    -Continue to develop natural gas as a clean burning fuel.
    -Drive Liquefied Natural Gas (LNG) as an export.

    Unfortunately, this would mean reversing the entire energy policy of the current administration.

    None of the actions above require any approval from OPEC. Strategically the ‘all of the above’ approach enhances U.S. national security and diminishes the influence of Russia, China and Iran. Within six months of the above, the price of gasoline will most likely plummet.

    Does any of this sound familiar?

    Liked by 1 person

    1. At this point, I think we are screwed on energy. He can go back to the Trump-era stuff, but right now it’s not just a supply issue. Clear across the globe, countries are being forced into stockpiling fossil fuels for a variety of reasons. He’s aggravated energy prices with energy policy, but it’s all conflicts, covid BS-supply chain problems, etc. too.

      Liked by 1 person

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