September 13, 20223 yr Author 7 minutes ago, we_gotta_believe said: I alone - His last remaining brain cell Whatever happened to @Ialone?
September 13, 20223 yr 21 minutes ago, TEW said: OK, so again, we drain the SPR and then give the market a free put. Do we not see the problem here? from a purely market standpoint sure it's artificial manipulation. but at least one of the goals of the SPR is to be able to keep prices from getting out of control because of short-term supply issues. the West being cut off from Russian oil is going to cause a reshuffling of the oil supply chain that will mean exorbitant prices in the short term, but it should reach an equilibrium as things normalize. subsidizing supply from the SPR in the near term seems a reasonable policy response from governments. and if you want to disrupt prices as little as possible, you taper off supply and then likewise taper resupply of the SPR over say 8-12 mos.
September 13, 20223 yr TEW/abra is just salty that Putin's getting clowned on the world stage by Joe F'ing Biden.
September 13, 20223 yr 1 hour ago, JohnSnowsHair said: from a purely market standpoint sure it's artificial manipulation. but at least one of the goals of the SPR is to be able to keep prices from getting out of control because of short-term supply issues. the West being cut off from Russian oil is going to cause a reshuffling of the oil supply chain that will mean exorbitant prices in the short term, but it should reach an equilibrium as things normalize. subsidizing supply from the SPR in the near term seems a reasonable policy response from governments. and if you want to disrupt prices as little as possible, you taper off supply and then likewise taper resupply of the SPR over say 8-12 mos. I disagree with the price control aspect of the SPR, but clearly that’s what it’s morphed into, so let’s assume that’s a part of it. If the goal is to keep the price from getting out of control, then please explain to me how the US government draining its oil reserves, then putting an artificial price floor on oil when while it is at elevated price levels, during a time of inflation, at a point in time where foreign producers are cutting production or are outright banned from coming to western markets, while issuing low numbers of permits, and the ideological wing of his party cuts financing to oil producers helps this situation at all? Basically, in a time where all pressure (save the temporary SPR release) is pushing the price up, the US government is now going to come in and put a price floor in place? And this is supposed to prevent prices from getting out of control?
September 14, 20223 yr 11 hours ago, Ipiggles said: Just a question I have about this graph, and I'm not sure if anyone has an answer. I see that the reserve has dropped roughly 180 million barrels from about September 2021 to now (and am well aware of why that is taking place), but what was happening from January of 2017 to January of 2020 that caused the reserve to drop 70 million barrels over that 3 year period?
September 14, 20223 yr 7 minutes ago, NothingClever said: Just a question I have about this graph, and I'm not sure if anyone has an answer. I see that the reserve has dropped roughly 180 million barrels from about September 2021 to now (and am well aware of why that is taking place), but what was happening from January of 2017 to January of 2020 that caused the reserve to drop 70 million barrels over that 3 year period? The two events that come to mind are hurricane Harvey and the attacks on Saudi refineries.
September 14, 20223 yr Trump also proposed halving the SPR, selling it off to help close the budget gap.
September 14, 20223 yr Ah yes, I too, can recall all the Trumpbots wringing their hands about the SPR when Trump was in office. Much like how deficit spending is suddenly a concern and the ballooning national debt is once again the reason why we're all doomed!
September 15, 20223 yr 6 minutes ago, Dave Moss said: Yeah, I’ve met @DrPhilly You sound like a Nets fan
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