Biden announces historic oil reserve release, along with other steps, to reduce gas prices

[bave]

Using the SPR to prop up collapsing approval numbers, is that what the SPR is for?

 

[Chomsky]

There hasnt been a 'disruption' in our oil supply. We do not have an oil shortage of any kind. $100 per barrel oil is not an emergency

If you believe your take on this is correct, then no problem - it will soon be blocked by SCOTUS.

But, I wouldn't hold your breath waiting . . .

 

[VanceMack]

Draining the nations emergency oil reserve because youi ****ed up the nations energy policy the day you got into office is a plan....I guess. Not a good one...but its a plan.

 

[Chomsky]

Short sighted-may increase people driving defeating carbon reduction.
Food prices and rents are a bigger dollar problem.

That's an interesting comment.

I would argue that's the idea, to keep transportation and the economy moving.

 

[ttwtt78640]

So any company not exploiting a lease likely believes there is nothing there or not worth the cost of extraction. Which means Bidens tax punishment will simply be reflected at the pump.

Or that they secure leases to be used only when current leases ‘dry up’. I doubt any oil company has enough equipment to activate every lease they hold simultaneously.

The same is true with a housing construction company, their crews can only build so many houses at a time - after they finish building the current batch, they move on to building the next batch.

 

[rahl]

Draining the nations emergency oil reserve because youi ****ed up the nations energy policy the day you got into office is a plan....I guess. Not a good one...but its a plan.

Lol, biden is so powerful he controls the entire planets oil supply/price

 

[Chomsky]

Why would an oil company sit on a lease when they can get $100 per barrel if they utilize it?

The rationale I've read is that some oil companies believe the high prices may be a post pandemic blip, whereas drilling is a long-term prospect.

 

[VanceMack]

Lol, biden is so powerful he controls the entire planets oil supply/price

Our Oil prices began climbing long before Putin shit the bed. Thats just your lame excuse to cover for his incompetence.

 

[Chomsky]

There is no guarantee that a given lease has accessible oil or that they can secure permits to connect it to a pipeline. The idea that they are simply refusing to increase production (like the Saudi’s?) is nonsense.

Well then by forcing the bolded, wouldn't that be building an infrastructure for the future? I would think that would be a good thing.

 

[rahl]

Our Oil prices began climbing long before Putin shit the bed. Thats just your lame excuse to cover for his incompetence.

I know. Biden is so powerful, he controls the entire planets oil supply and price. You are right to fear him.


Meanwhile, educated people actually understand that oil is a global commodity, and US presidents have absolutely no control over it, nor do they have any control over oil companies deciding to drill or not.

 

[ttwtt78640]

I'll take a try at shooting the bolded down.

You're assumption would apply to a uniform application of the penalties across all oil producers. But only a segment of producers will be taxed. Those taxed producers will face a choice - raise prices to the customers, or produce more product. Free-market theory would seem to preclude them raising prices higher than their market competitors. So, that would seem to indicate they will either produce or lose market share.

That seems to assume that the oil companies each have enough equipment and personnel to use all (or many more) of their (now idle) leases and that all (or many of) those leases contain accessible oil and they can get permits to connect to a pipeline.

 

[Chomsky]

And potentially last 3 times longer.

Alright, I am sold!

What I like about it is that it can charge up an EV 70 times faster, give a longer range, and potentially last 300K, instead of 100K for the current batteries.

Amazing.

The other issue is 'power generation'. WIth our current set up, a lot of people charging their cars all at once will put too much of a strain on the power grid. I can see items like stationary fuel cells, or intermediate onsite batteries at the charging stations.

Yes, there's that.

Those charging vehicles at home will still be limited by their residential power lines.

But, I will be a very happy cell phone user!

 

[Fletch]

If you believe your take on this is correct, than no problem - it will soon be blocked by SCOTUS.

But, I wouldn't hold your breath waiting . . .

I dont think SCOTUS will step in here. Where did you get that idea? Im not arguing that Biden cant do this or even shouldnt. Im saying that the benefits wont be nearly as great as you think and may be overwhelmed by the costs.

 

[VanceMack]

I know. Biden is so powerful, he controls the entire planets oil supply and price. You are right to fear him.


Meanwhile, educated people actually understand that oil is a global commodity, and US presidents have absolutely no control over it, nor do they have any control over oil companies deciding to drill or not.

That shithead is shooting holes in the bottom of the boat and you 'people' are helping him reload.

Leftists muppets that blindly swallow for Biden fabricate excuses and ignore the fact that from the moment he stepped foot into the WH he attacked fossil fuel production and championed the green energy policies written by a half wit from NYC and dumbass 16 year old from Sweden.

 

[noonereal]

Biden announces historic oil reserve release and presses oil companies to do their part to reduce gas prices

President Joe Biden on Thursday announced an unprecedented release of oil from US reserves and several steps his administration is taking to punish oil companies for not increasing production from unused leases on federal land.

www.cnn.com

--

It looks like Joe Biden has a substantive and actionable plan to lower gas prices:

1] Six months of historic strategic reserve releases
2] Penalties for Oil companies that are not using their drilling licenses.

In addition, he also is implementing an emergency Defense Production Act order to re-classify & produce more critical minerals, which will also assist in our transition to clean energy.

--

I applaud:

1] Taxing Oil Companies that sit on their licenses without producing. This will produce both more oil and more tax revenue. A double win!

2] Making us both more sufficient in critical minerals, thereby moving forward the transition to cleaner energy.

wtf is Joe ignoring the bigger problem, the price of home heating oil?

It has trippled in price, gas is up what? 30%?

 

[Luce]

I don't expect this will accomplish anything, but it does give the illusion that he's trying.

What should he do?

 

[ttwtt78640]

Well then by forcing the bolded, wouldn't that be building an infrastructure for the future? I would think that would be a good thing.

Think of it as five fishermen with permission to fish in 10 different locations - they can go fishing in (at most) 5 locations no matter what Biden tells them to do.

 

[Chomsky]

That seems to assume that the oil companies each have enough equipment and personnel to use all (or many more) of their (now idle) leases and that all (or many of) those leases contain accessible oil and they can get permits to connect to a pipeline.

That I can't speak for. But they are making record profits with the current prices, so if your theory is correct they may consider investing in production.

I think the crux of what's going-on is oil is one of those things that straddles a pure free-market commodity, and a strategic regulated commodity. So, there's constant conflict.

 

[rahl]

That shithead is shooting holes in the bottom of the boat and you 'people' are helping him reload.

He is not the president/ceo of any oil companies. He has no control over whether they decide to drill or not, nor does he have any control what so ever over the global oil market, lol.

Leftists muppets that blindly swallow for Biden fabricate excuses and ignore the fact that from the moment he stepped foot into the WH he attacked fossil fuel production and championed the green energy policies written by a half wit from NYC and dumbass 16 year old from Sweden.

He has issued more leases and drilling permits than trump did lol. It's almost like you don't have any idea how the oil industry works, domestically or globally lol.

 

[VanceMack]

He is not the president/ceo of any oil companies. He has no control over whether they decide to drill or not, nor does he have any control what so ever over the global oil market, lol.

He has issued more leases and drilling permits than trump did lol. It's almost like you don't have any idea how the oil industry works, domestically or globally lol.

He inherited an energy policy that had us for the first time ever as a net energy EXPORTER, and he turned us back to an energy dependent country importing oil from Russia and begging OPEC to produce more oil, all to spite the past president. His actions were ****ing retarded...but then...he knew he could count on people like you to blindly support him.

 

[Fletch]

He is not the president/ceo of any oil companies. He has no control over whether they decide to drill or not, nor does he have any control what so ever over the global oil market, lol.

He has issued more leases and drilling permits than trump did lol. It's almost like you don't have any idea how the oil industry works, domestically or globally lol.

You got a link for that?

 

[Chomsky]

I dont think SCOTUS will step in here. Where did you get that idea? Im not arguing that Biden cant do this or even shouldnt. Im saying that the benefits wont be nearly as great as you think and may be overwhelmed by the costs.

Technically, it's an "Appeal to Authority", and is in effect a fallacy in pure debate terms.

The point I'm making is, if you believe Biden is not meeting the code of the Strategic Reserve statutes, we can assume a court somewhere will step in. Given that there is the political will, of course. (I would argue the GOP have lots of 'will'!)

 

[Chomsky]

Think of it as five fishermen with permission to fish in 10 different locations - they can go fishing in (at most) 5 locations no matter what Biden tells them to do.

I understand your hypothesis, but I'd need to see evidence in support of it.

 

[Khayembii Communique]

So any company not exploiting a lease likely believes there is nothing there or not worth the cost of extraction. Which means Bidens tax punishment will simply be reflected at the pump.

Actually there's a huge issue with lease parking, whereby companies purchase leases just so that their competitors can't get them even if they don't intend on drilling any time soon. Taxing unused leases would actually help mitigate this issue and apply a financial burden to companies engaging in this practice, forcing them to either follow through on leases they own or give them up to someone that will actually use them. It's almost like airport slots, whereby measures have to be put in place to prevent airlines from obtaining slots they don't intend to use just to push out competitors.

The tax would incentivize an increase in federal drilling which is what all of you people always wanted so it's silly that you would be against it.

 

[Tbird19482]

That depends. There is an Australian company that has gone into prototyping a graphne alumium battery. If it lives up to anywhere near it's hype, it will pretty much be a drop in replacement for lithium ion batteries that do not use any of the rare earths. It literally is two very common substances, Graphene and aluminum.
They have built the coin type battery prototype factory, and have delivered prototypes to customers for evaluation, and are working on getting the pouch type (which ev cars could use) protogype factory built

Developer Of Aluminum-Ion Battery Claims It Charges 60 Times Faster Than Lithium-Ion, Offering EV Range Breakthrough

The graphene aluminum-ion battery cells from the Brisbane-based Graphene Manufacturing Group (GMG) are claimed to charge up to 60 times faster than the best lithium-ion cells and hold more energy.

www.forbes.com

The NDB ( Nuclear Diamond Battery ) is another one to watch
They already have some small ones made that work well but not as well as they want and they are working on improving them ( they are a company in CAL. )
IF they can get them any where near what they want I am sure they would bring them out and keep on trying to improve them.
From what I have read the NDB will not need to be charged at all. it is made from Nuclear waste and generates power and the bigger batteries like in cars will run for they say thousands of years and you will be able to plug your car in and sell power back to the Power companies
IF they can get the NDB working as well as they want and on the market it will change the energy world it will cut our need for oil way way down
Have a nice day