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Page added on December 31, 2023

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Meet America’s Newest Oil Trader Extraordinaire: Joe Biden

Meet America’s Newest Oil Trader Extraordinaire: Joe Biden thumbnail

Head of state. Commander in chief. Oil-trading whale?

President Biden’s unprecedented release of oil from America’s petroleum reserves in 2022 turned the White House into an unusually active player in the volatile crude market. The flood of emergency supplies helped arrest surging oil prices after Russia invaded Ukraine, and pulled billions of dollars into the Energy Department’s coffers in the process.

Oil prices have sputtered since and allowed officials who sold high to start replenishing U.S. stockpiles on the cheap. The question that will echo from Washington to Wall Street in 2024 is how the Biden administration might finish off a trade many investors would envy.

The Energy Department says it has already snapped up about 13.8 million barrels of crude, with accelerating deals in recent weeks signaling the agency could move more aggressively next year.

At an average price of $75.63 a barrel, the purchases so far total a nearly $270 million theoretical discount from last year’s average sale price of $95 a barrel.

The Energy Department will have about $3.45 billion left to buy more oil after those deliveries are complete, a spokeswoman said. That is enough cash for tens of millions more barrels of crude.

The Biden administration’s opportunity to build on its gains could slip away if prices rise. Benchmark U.S. crude changed hands Friday at $71.65 a barrel, well below the administration’s asking price of $79 or lower, even as fallout from the Israel-Hamas war threatens tankers in one of the world’s most important shipping lanes.

Any major ramp-up in deals would come with challenges. It could strain the country’s ability to release emergency supplies, since storage sites can’t accept crude at the same time. The facilities, some of which are currently undergoing maintenance, are also limited in how much they can receive each month.

But some traders and analysts say locking in future purchases at today’s prices could help turn U.S. stockpiles into a force for market stability and expand America’s clout as an energy superpower.

“Even if it’s at a small size, being able to exert that muscle could be very valuable,” said Skanda Amarnath, executive director of the macroeconomic policy think tank Employ America.

The U.S. and other countries began amassing stockpiles in the 1970s, aiming to hold 90 days’ worth of net imports, after the Arab oil embargo sent prices skyrocketing in an inflationary shock to the American economy.

The Strategic Petroleum Reserve peaked in size in 2010 near 727 million barrels, according to the Energy Information Administration. Since then, booming shale output helped the U.S. become the world’s largest oil producer, and officials from both parties pushed to sell off some of the stockpiles to fund other projects.

Biden’s release after Russia’s invasion of Ukraine was the largest ever. Emergency sales of roughly 180 million barrels helped shrink the reserves to as little as 347 million barrels, a 40-year low.

The skyscraper-sized storage caverns in Texas and Louisiana now hold the equivalent of nearly 175 days’ worth of net imports, according to federal record-keepers. Canadian crude has also come to account for far more of the country’s imports, while supplies from the Saudi-led Organization of the Petroleum Exporting Countries and its Russia-led allies have plummeted.

Still, administration officials say they want to refill at least some of the reserves when the price is right.

The strategy has three prongs. The Energy Department has recovered some supplies from crude lent to refiners and returned with a premium this year. Congress also canceled previously scheduled sales totaling about 140 million barrels in exchange for $12.5 billion from the Energy Department’s account, according to the Dallas Fed.

Big purchases on the open market, relatively rare in recent decades, have proven to be the most difficult piece of the puzzle.

The Energy Department’s first attempt at buying oil this year failed. The agency later bumped up its target price from $72 a barrel and revamped its approach to contracts to limit suppliers’ risk while officials evaluated proposals.

The agency’s most recent contract, awarded Dec. 26, scheduled deliveries for March. Officials plan to “purchase as many barrels as possible, while getting the best deal for taxpayers,” a spokeswoman said. Additional monthly solicitations are expected at least through May.

The extension suggests the government is growing more comfortable with deals that have longer time horizons, said Ilia Bouchouev, managing partner of Pentathlon Investments.

If the U.S. is willing to expand that approach, Bouchouev said it could lock in cheaper contracts for deliveries in late 2024 and 2025 and avoid the risk that prices will rise.

“Buy it back at $75 [a barrel], claim victory for the taxpayers and call it done,” he said.

WSJ



289 Comments on "Meet America’s Newest Oil Trader Extraordinaire: Joe Biden"

  1. eee on Sun, 31st Dec 2023 6:06 pm 

    Do you know why Europe is full of Kings and Queens, because it is a way to dominate the world and push your value such as globalism over the world.

    You dress yourself as chosen by GOD by wearing really sophisticated and colorful clothing. See the King of England and various European royalty. I despise the Europeans. The low IQ people will see that a sign of royalty and leadership and follow them. This is one of the way Europe was abale to dominate the world and push globalism.

    I really hate Europeans and I want all of them death. fuck cock suckers. European have been in the business of dominating the world for a long time. There will be no stopping them until we kill them all.

  2. eee on Sun, 31st Dec 2023 6:14 pm 

    This is the same reason why there are castles all over Europe. It is to show that they are chosen by GOD. Low IQ people see that as a sign leadership will obey and follow their leads. Europe is really in the business of dominating the world.

    https://www.youtube.com/watch?v=DJHFdn12POs

  3. eee on Sun, 31st Dec 2023 6:24 pm 

    Europe, UK, Israel cannot redeem their way out of their sins. Genocide of their race is the only way to deal with them.

  4. WhereAreMyGuns on Sun, 31st Dec 2023 6:39 pm 

    As for US and Canada, I will deal myself with them killing politicians, corporate CEO, Bankers, killing CEO of military industrial complex and so on. I will clean Canada and US using my finger and my guns if I am still on earth and it is GOD will.

  5. WhereAreMyGuns on Sun, 31st Dec 2023 6:44 pm 

    If you could kill me, you would have already done it. you cannot kill me, I have divine protection. I had divine protection since my birth.

  6. WhereAreMyguns on Sun, 31st Dec 2023 6:51 pm 

    The design of the Québec flag is a way to tell the world that a real royal divine being live in Québec

  7. WHereAreMyGuns on Sun, 31st Dec 2023 8:52 pm 

    I made a deal with the invisible world. Nothing will happen on earth until all the Jews are killed, all UK population is killed and all the population of Europe(Nord, South, East and West ) is killed. Nothing will happen until I walk over all these cadavers.

  8. WhereAreMyGuns on Sun, 31st Dec 2023 9:27 pm 

    I have deal with the invisible world. Certain nations have to be wipe out of the map before anything else happen.

  9. WhereAreMyGuns on Sun, 31st Dec 2023 9:31 pm 

    I have deal in place that certains group of people, like Jews, Whites European and Whites UK have to wipe out of the map before anything else move forward. Their nations must be destroy and everyone living in it must be killed. I have deals in place. Nothing move forward until I get what I want.

  10. WhereAreMyGuns on Sun, 31st Dec 2023 10:09 pm 

    Nothing move forward until I am happy with what I see. Is there a place in the video where he is referencing me. The backward entropic degradation clock is still running. How do I know such detail like backward entropic degradation clock.

    https://www.youtube.com/watch?v=H41Lw2YEY74

  11. eee on Sun, 31st Dec 2023 10:19 pm 

    I said that many time, these divines rebels might control some parts of this earth but they don’t have access to earth calculator: biological life calculator, entropic calculator, heat exchange calculator, electrical calculator. Earth calculator are locked and will stay locked.

  12. WhereAreMyGuns on Sun, 31st Dec 2023 10:28 pm 

    Princess Mary to become Queen of Denmark after Margrethe announces abdication | 7 News Australia

    You don’t know me if you think you will manipulate me with such cheap gimmick. You are just going to upset me more.

    https://www.youtube.com/watch?v=8dZgJqfYW9A

  13. YouTimeIsUp on Sun, 31st Dec 2023 11:37 pm 

    Satan is ruling over mentally retarded people. 90% of earth population is mentally retarded. Satan is a loser ruling over other losers. Satan is such a loser that he cannot control the mathematics of this reality. The real GOD still control earth and he is the one running the calculators of earth. Maybe I am just trolling earth because I know earth is made of 100% retarded people. Earth will be destroyed and give to a real creator and King.

    The time of satan and earth is almost up

  14. WhereAreMyGuns on Mon, 1st Jan 2024 1:19 am 

    Here we have one mentally retarded person speaking to a crowd of mentally retarded people. This will have to stop sometime. Listen to this mentally retarded clown Jews speaking, he mentally retarded. A planet populated at 100% of mentally retarded people with no concept of morality has no future. It is no of problem of immigration, earth is 00% filled with retarded. Stopping immigration will not stop the problem. Killing the whole population of earth will fix the problem

    https://www.youtube.com/watch?v=azwt2pxn3UI

  15. JustRetardWhereverYou Look on Mon, 1st Jan 2024 2:05 am 

    It is not a problem of immigration. The problem is that 100% of earth population is mentally retarded. You have a mental retardation problem not an immigration problem. It is time for something new and a new and improve human. This experimentation will be terminated.

  16. WomenSmellBad on Mon, 1st Jan 2024 2:44 am 

    By the way women are disgusting. Their vagina is ugly and smelly. They are stupid to the point of extreme mental retardation. Sexual reproduction will be scraped forever.

  17. NewSexToyForMe on Mon, 1st Jan 2024 12:15 pm 

    Since I am a divinity and I can get what I want, I decided to design for myself a better female fuck toy. The human bitch smell bad, her vagina is ugly and smell bad. The human bitch is mentally retarded and should not speak.

    So I am looking at designing for myself a real sex toy. Her asshole will be removed and her vagina will be modified to be a hybrid between and asshole and vagina. The inside of the vagina will be a tube made of muscle that can be contracted rapidly or slowly according to my desire. My sex toy will not speak, except for dirty sexual talk. she will have only breast in the form of fake boobs. Nothing says I am a fuck toy like fake boobs.

  18. eee on Mon, 1st Jan 2024 12:24 pm 

    You should have blinken and his familly when I asked. You should have kill all the Jews of the world when I asked you. I moved on to something else now.

  19. MyEntertainment on Mon, 1st Jan 2024 12:36 pm 

    I also decided that since I am a King I will entertain myself by torturing Jews. I will have in my new Kingdom a torture chamber for Jews.

    In my torture chamber, I will be ale to take a RAM TRX and run over the head of a Jews tied to a muddy ground and watch them suffer when they die. I will able to configure the pain level of Jews will experience during death and torture.

    A king need entertainment. Why not torture Jews and watch them suffer.

  20. YourFuturIsDeath on Mon, 1st Jan 2024 12:47 pm 

    The way it will work is as followed. Everyone on earth will be killed and news reality will be installed made of only me and the bitch. Then some entertainment centers will be build such as fuck toy whore house (see above) and the Jews torture center (see above) These will be for my personal entertainment. Other things will be build but is does not concern earth.

  21. ThisIsOneLocationWhereIWillTOrtureJews on Mon, 1st Jan 2024 1:39 pm 

    You see the muddy road at 8:51. This is where I will laid down my Jews and run over them with my TREX. This gives you an example of my Jews torture entertainment room will look like. A real King drive a TRX, and ran over Jews with it. A real King entertain himself the way it wants to.

    https://www.youtube.com/watch?v=elbFvLeNjdc

  22. Dredd on Mon, 1st Jan 2024 2:24 pm 

    Long live the small brains (Small Brains Considered – 18).

  23. eee on Mon, 1st Jan 2024 3:49 pm 

    THe bitch does really good porno for me. Everything is perfect, the make up, air style, clothing, heavy sexual female degradation. A real fuck toy like I like

    https://fr.xhamster.com/videos/holly-hendrix-gets-anally-destroyed-on-hookup-hotshot-8654051

  24. FuckFeminists on Mon, 1st Jan 2024 4:30 pm 

    feminists probably hate porn where bitches get used as sex object and heavily sexually degraded.

  25. eee on Mon, 1st Jan 2024 6:58 pm 

    Earth does not have a problem of immigration or invasion. THe problem of earth is the 100% of the population is mentally retarded. Everyone on earth will be killed, earth destroyed and the energy field will be give to a new creator. We are almost there at the phase of earth destruction. we already having discussion of what kind reality I would like and what kind of entertainment I will need.

    I said I need a Jews torture chamber,, upgraded female fuck toy. I want other things , but this is not earth businesses.

  26. eee on Mon, 1st Jan 2024 11:57 pm 

    Let me be clear. Earth will be destroyed at the end. But in a shorter time horizon, nothing happen until all the Jews of planet earth are dead, until all the population living in Europe and UK is dead. Nothing happen until I walk over their cadavers. If you want to live, make it happen

  27. IDontCare on Tue, 2nd Jan 2024 12:06 am 

    I am really impressed me, I can demand the genocide of Jews, UK and Europeans people and I am still receiving a new skin. I don’t give shit, if I live or die. Do what I ask and kill the people above. I am still receiving a body update even after demanding the dead of all the Jews for the last 3 years. Your only chance of surviving is to do what I asked.

  28. eee on Tue, 2nd Jan 2024 1:12 am 

    And I saw an angel standing in the sun, who cried in a loud voice to all the birds flying in midair, “Come, gather together for the great supper of God, 18 so that you may eat the flesh of kings, generals, and the mighty, of horses and their riders, and the flesh of all people, free and slave, great and small.”

    From revelation 19. I walk over all the Jews cadavers, all the cadavers of Europe and UK as predictede in revelation 19.

  29. eee on Tue, 2nd Jan 2024 1:30 am 

    You better hope that GOD does not push me into power. These bitches will cry for real, when I shoot their faces with a 12 gauge buckshot 00. See 52,26

    https://www.youtube.com/watch?v=TfSQOUTWgVE&t=1988s

  30. ItIsNotAboutImmigrationAnymore It is about revenge on Wed, 3rd Jan 2024 4:31 am 

    I will repeat that. It is not about immigration anymore. It is about the fact that 100% of the population of earth is mentally retarded and cannot understand the concept of morality by themself. It also about the fact that I hate all of you.

    You are here to die and I am here to torture you with other member of the invisible world until we kill all the population of earth.

  31. FuckPieceOFShitLegault on Wed, 3rd Jan 2024 11:41 am 

    Where is piece of shit Legault. We don’t see his fucktard face on TV anymore. If he is dead, can I buy his head and use it as decoration for my bedroom.

  32. eee on Fri, 5th Jan 2024 5:25 am 

    I see no evidence in my daily life that you will be able to change earth electrical, mechanical, thermal and other earth calculators by making videos on YouTube. Earth is an execution and you are die, is still my conclusion.

  33. eee on Fri, 5th Jan 2024 5:27 am 

    I see no evidence in my daily life that you will be able to change earth electrical, mechanical, thermal and other earth calculators by making videos on YouTube. Earth is an execution chamber and you are here die, is still my conclusion. Only certain people will be allowed to leave earth is still my conclusion.

  34. eee on Fri, 5th Jan 2024 6:59 pm 

    This reality will be stopped. The earth calculators will be stopped (electrical, mechanical, aa), the databases will be emptied, the energy computers running the calculators will be dismantled to make sure that this reality cannot be restarted. Protection fences will installed around the reality. Stopping the energy computers will be the equivalent of killing everyone and destroying earth. This fucking crappy low quality reality will be killed and the place will be purged

  35. eee on Sat, 6th Jan 2024 4:33 am 

    This is GOD mocking the planet earth. You are too mentally retarded to see it. If you cannot see that people necks got longer, you cannot see that GOD is mocking you before he kills all of you.

    https://www.youtube.com/watch?v=Gzm7THM5SSY

  36. eee on Sat, 6th Jan 2024 7:14 am 

    The destruction of United Nations, WEF, BIS and other globalist organizations will done in such a way that the whole world can witness their total destruction and will also serve as warning for future generations.

  37. eee on Sat, 6th Jan 2024 7:16 am 

    Maybe I am just trolling the whole planet also.

  38. eee on Sat, 6th Jan 2024 10:48 am 

    American politicians are losers. Apparently none of them can see that people neck got longer. Apparently none of them can see that the Jews hate America. I am probably the only real human inside this reality, and I am probably a real divinity. The rest of you are just fucking losers waiting to be executed by GOD.

    “America is a golden calf and we will suck it dry, chop it up, and sell it off piece by piece until there is nothing left but the worlds biggest welfare state that we will create and control… This is what we do to the countries that we hate. We destroy them slowly.”—— Benjamin Netanyahu 1990

  39. eee on Sun, 7th Jan 2024 7:31 am 

    You are not leaving and you cannot modify earth calculators. They are locked. Create fake companies like Tesla and put fake Tesla cars on the road, make videos about mathematics, make video about guy fixing old rusty cars, you cannot modified earth calculators with YouTube videos. This is a reality that was created to exécute and torture you. You cannot leave earth. Send all the space X rockets that you want, you will no change the sky or collapse the dome.

    You are here die and die you will.

  40. eee on Sun, 7th Jan 2024 10:06 am 

    If I get eternal life. I will kill all the population of earth with my bare hand one at the time. I will kill 9 billions people bare hand just because I have eternal and wants revenge.

  41. eee on Sun, 7th Jan 2024 11:46 am 

    I have been helping this shit planet for 4 years now. Where is my monetary compensation for my time and advices. As always, people expect that I will work for free and I will shut up about it.

  42. rrr on Sun, 7th Jan 2024 12:14 pm 

    I will kill everyone that lives in Québec including the Whites Quebecers if you give me eternal life. Think about it. I will kill all of them with bare hands.

    And then I will go from province to province and kill every Canadian with my bare hands. Make sure you know what you doing before giving me a new body. After I will go and kill every American bare hands until they are all deads.

  43. eee on Sun, 7th Jan 2024 12:35 pm 

    It is not true that you will crash the financial system and leave me dry and high without monetary compensation. Better to give me monetary compensation now while money can still buy things because once you crash the system money will worthless. You will fuck me double times if you don’t give me monetary compensation now, mother fucker. I will kill all the population of earth bare handed one at the time for eternity if I have to.

  44. eee on Sun, 7th Jan 2024 12:56 pm 

    It is not true that you going to fuck over like that by not giving me any monetary compensation.

  45. eee on Sun, 7th Jan 2024 12:57 pm 

    It is not true that you are going to fuck me over like that by not giving me any monetary compensation.

  46. eee on Sun, 7th Jan 2024 1:01 pm 

    It is not true fucking whore that you will use some part of my personal as inspiration to make YouTube videos without monetary compensation. You die or I die fucking bitch.

  47. eee on Sun, 7th Jan 2024 1:01 pm 

    It is not true fucking whore that you will use some part of my personal life as inspiration to make YouTube videos without monetary compensation. You die or I die fucking bitch.

  48. eee on Sun, 7th Jan 2024 1:47 pm 

    Everyone is allowed to have some kind of money and salary and I should work for free. Tell piece of shit Legault to send me a check of 10 millions for my expertise and work for the last 4 years. Throw fucking money my way also.

    https://www.youtube.com/watch?v=lPYav4SkA_w

  49. eee on Sun, 7th Jan 2024 1:54 pm 

    It is not true that Israel, Ukraine and everyone else will get free money and I will get nothing in return for my work. If the US has money for Israel, US can also pay me salary. I want 1 billions from the US government for my work. it is not true that everyone will get free money and I will work for a sucker for free.

  50. eee on Sun, 7th Jan 2024 2:55 pm 

    Let me guess fucking manipulative whore. The long neck and long jaw is not my idea. IT was part of your theater but you let me believe that it was my ideas. Either I die or you die fucking whore.

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