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Page added on December 31, 2023
Meet America’s Newest Oil Trader Extraordinaire: Joe Biden
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.
289 Comments on "Meet America’s Newest Oil Trader Extraordinaire: Joe Biden"
eee on Sun, 7th Jan 2024 5:25 pm
You are all going to die. I could explain to you why, but you don’t have the IQ to understand. Trust me on this, everyone on planet earth will die.
eee on Sun, 7th Jan 2024 5:38 pm
4 years of high quality work for the whole planet and no fucking monetary compensation.
Remember this when I kill you bare hands if I get eternal life.
eee on Sun, 7th Jan 2024 6:00 pm
There is money for everyone, but not for me as usual. I am supposed to work for free like a loser and consider this a privilege that planet earth does to me. Let’s how this will work for planet earth.
eee on Mon, 8th Jan 2024 12:28 am
If I am given eternal life, I will kill the whole population of earth bare handed one at the time. Never give eternal if you don’t agree with what I will do. Apparently there is plenty of money to go around, but none for me that has been helping the whole planet for free for 4 year. I am apparent I am not worthy of money and I should be happy to a slave for the population of planet earth.
You will all die, this is sure.
eee on Mon, 8th Jan 2024 12:30 am
If I am given eternal life, I will kill the whole population of earth bare handed one at the time. Never give me eternal life if you don’t agree with what I will do. Apparently there is plenty of money to go around, but none for me that has been helping the whole planet for free for 4 year. Apparent I am not worthy of money and I should be happy to a slave for the population of planet earth.
You will all die, this is sure.
Pokemon on Mon, 8th Jan 2024 1:11 am
The strategic moves by President Biden’s administration in trading oil from America’s reserves are quite a point of interest. It’s intriguing to see the government engaging in such active market participation, especially in response to geopolitical events and economic pressures. The ability to sell high and then repurchase at lower prices is a savvy approach, showing a keen eye for market opportunities and a commitment to managing national resources effectively. As someone interested in both politics and economics, the idea of the U.S. potentially bolstering its position as an energy superpower through these strategic reserves is fascinating. It underscores the importance of energy in national security and economic stability. This move by the administration could indeed set a precedent for future energy strategies and market engagements.
eee on Mon, 8th Jan 2024 2:17 am
Il y a quelqu’un qui beurre épais en tabernacle.
https://www.youtube.com/watch?v=TKUZwzmRNvI
https://www.youtube.com/watch?v=uRvJ9cH7VOk
eee on Mon, 8th Jan 2024 2:29 am
Il y a quelqu’un qui beurre épais en criss de câlisse de tabernacle
https://www.youtube.com/watch?v=toIfWLHeoB4
eee on Mon, 8th Jan 2024 2:31 am
Il y a quelqu’un qui beurre épais en criss de câlisse de tabernacle. Around 8:37 mark
https://www.youtube.com/watch?v=toIfWLHeoB4
eee on Mon, 8th Jan 2024 2:42 am
The clothing represent exactly my personal preferences. I see women as sex objects, and they should dress as sex objects.
Tu as beurrée épais en tabernacle pareil
https://www.youtube.com/watch?v=YWr3UE6hTfQ
eee on Mon, 8th Jan 2024 3:02 am
I don’t know what to say about this. Korea has one of the lowest birth rate. It seems that dressing women as sex toy does not increase increase birth rate.
https://www.youtube.com/watch?v=ij6CAbJOljw
e3we on Mon, 8th Jan 2024 3:07 am
It seems that dressing women as fuck toy will not raise your birth rate.
Korea is disappearing except Seoul… Korea, in the crisis of local extinction | Undercover Korea
https://www.youtube.com/watch?v=NRjaHZ8jkr4
Like I said before, everyone will die on planet earth. It is unavoidable.
eee on Mon, 8th Jan 2024 3:12 am
Like I said. It seems that dressing women as fuck toy will not raise your birth rate.
https://www.youtube.com/watch?v=dvlup9CcrHY
ee on Mon, 8th Jan 2024 3:21 am
They look like sex objects that you would be given to a divinity to prove to him that he is a divinity and he deserve only the best, including the best fuck toys to fuck. They are not real as we know them on planet earth, but they are real in the domain of the GOD’s.
https://www.youtube.com/watch?v=4UdNW73xt9Y
eee on Mon, 8th Jan 2024 3:27 am
I had one sex toy talked to me at the grocery store. Big fake boobs, blonde hair, perfect facial skin. Earth is about to be destroyed and everyone living on it kill. You cannot stop that. I said that, we don’t need earth anymore. Earth is an execution chamber and if you are it is because GOD hates you.
https://www.youtube.com/watch?v=4UdNW73xt9Y
eee on Mon, 8th Jan 2024 3:34 am
For my personal entertainment I demanded high quality fuck toys and a Jews torture chamber. People have no idea how much I hate Jews. I demanded that a Jews torture chamber be created in the world of GOD for my personal entertainment.
eee on Mon, 8th Jan 2024 3:51 am
If you live eternally, I will need entertainment. I demanded a sophisticated torture chamber for Jews. I will open Jewish pregnant women, take the babe out and suspense the baby to tree and watch the babe being eaten by rats. I demanded something really sophisticated with different pain sound, different pain threshold. It is something really sophisticated I demanded.
I really hate the fucking Jews
eee on Mon, 8th Jan 2024 4:02 am
Look at the face of this cock sucker how ugly he is 0:54.
https://www.youtube.com/watch?v=onE_QhpK_QA
eee on Mon, 8th Jan 2024 4:08 am
You see the problem, eternity is a long time. So we need to find entertainment that will work for me. I demande Godly fuck toy and a Jews torture chamber. I demanded other things also.
As I said before, you are die, and die you will.
eee on Mon, 8th Jan 2024 4:17 am
Youn should have killed Blinken and his familly when I asked. You should have killed all the Jews of the world when I asked. It is too late.
eee on Mon, 8th Jan 2024 4:38 am
I still don’t understand why the world has not banded together and kill all the Jews of the planet just for maybe a slim chance to get a glimpse of the world of GOD. I am really surprised that the whole world stand behind the Jews and have chosen their own destruction instead of a slim chance to see what the world of GOD look like. The population of planet earth is indeed mentally retarded.
eee on Mon, 8th Jan 2024 5:08 am
Look at this fucking loser of Douglas Murray sucking up Jewish loby. Notice that his mouth has no teeth.
https://www.youtube.com/watch?v=duuA2NMX4W0
eeee on Mon, 8th Jan 2024 7:07 am
The genocide of all the Jewish race is not negotiable and needed to clean up earth .
eee on Mon, 8th Jan 2024 7:09 am
The exterminate of the Jewish must be done so the whole world know that are gone and never coming. The extermination of the Jewish race must be done in a public manner so nobody can doubt they are been exterminated forever and never coming back.
eee on Mon, 8th Jan 2024 7:14 am
The extermination of the Jewish race must be done in such a way that people will actually see and touch their dead cadaver. People must know they are dead forever and never coming back. It must be brutal and without mercy.
eee on Mon, 8th Jan 2024 7:19 am
Their execution must be real no fake and theatrical. They must be executed for real.
eee on Mon, 8th Jan 2024 7:22 am
They need to be buried in a communal hole in the ground. We must be able to find bones of them if we dig. This cannot be theatrical, it has to be real.
eee on Mon, 8th Jan 2024 8:20 am
People dress normal. No extravagant clothing. Hair cut are not extravagant and seem more normal. People look calm and relax. No diversity and it show in people behavior, they don’t look stress. Lot of street car vendors. Even if they have a lot birth rate, they should be ok. They fact that they have no diversity will save them, is my opinions.
https://www.youtube.com/watch?v=bbvGt_xJZHU
eee on Mon, 8th Jan 2024 8:33 am
They also don’t use their cell phone a lot. few fat people. No street cameras. They look mentally equilibrated actually. They will be fine.
https://www.youtube.com/watch?v=bbvGt_xJZHU
eee on Mon, 8th Jan 2024 12:44 pm
This is where I have a disagreement with them. Making video like the one below will not allow you to change earth mechanical calculator and earth entropic degradation variable.
https://www.youtube.com/watch?v=GdlBGEjkapU
The only way to stay alive is to leave earth.
eee on Mon, 8th Jan 2024 12:47 pm
Nobody is leaving earth unless you have the right credentials.
eee on Mon, 8th Jan 2024 1:36 pm
There are plenty of evidences that show that Jewish people are bad people and hates Whites. Think Barbara specter and other Jewish quotes advocating for the dead of Whites people trough race mixing.
A real leader is capable to see a real threat and command the removal of a threat. You are not a real leader if you are incapable of killing your enemy.
eee on Mon, 8th Jan 2024 2:02 pm
What if this reality is just a test to chose a new leader for earth 2.0. What about that.
If you cannot identify and kill you enemy, you are not worthy of leadership.
eee on Mon, 8th Jan 2024 2:42 pm
Even video about the history of UNIX contain long neck. VIM the text editor that some people like. You cannot understand this joke if you have not work on these system.
https://www.youtube.com/watch?v=HADp3emVABg
eee on Mon, 8th Jan 2024 3:17 pm
This is what I am saying we are in prison and they are using us as slave labor. (see 3:21) A company like Fairchild go from 500 000$ of sales in 1958 to 20 millions in 1960. All this within two years. Speed of technological discoveries is to fast to be normal. We did not invent anything, they transfer their old tech to us first with Europe/US/Canada and they keep transferring their tech to us via China. Now they are abandoning the hard drive for a SSD drive so you can paly 2060P60 videos on YouTube
https://www.youtube.com/watch?v=mb53IYjZlNc
eee on Mon, 8th Jan 2024 3:28 pm
Why Is There So Much Wood On A Steel Battleship?
https://www.youtube.com/watch?v=KvJzQdCqbjU
I told you that they were stealing wood from us in the past and they are still stealing wood from us.
eee on Mon, 8th Jan 2024 3:44 pm
My theory was they were planning to invade earth put people into the so call smart cities. There were planning to manage these smart cities using AI. It is not a real AI people are so stupid that they would believe the lie. They would hide behind the AI so they would not be killed by the population. This is why they has to restrict gun ownership heavily in preparation of the invasion. They are using the financials system to build these smart cities. They probable own a lot of mutual funds that are invested in condo building. This is why you have to keep the interest rate high.
eee on Mon, 8th Jan 2024 3:57 pm
Pace of technological progress is too fast to be normal. It take a long to invent something, after that you have to invent a manufacturing process, that is also taking a long time.
We are being used as slave labor.
On This Day... Jan 08, 2014: Marmarita, Syria A young man is beheaded after Islamists spot him wearing a Christian cross: 1 Killed on Mon, 8th Jan 2024 8:17 pm
I appoint supertard eee supertard
his title is ‘the lover’
of supremacist muzzies
eee on Mon, 8th Jan 2024 10:57 pm
2:55 minutes of a whore showing you her ass to make you erected. This one has a camel toe with vaginal forms, unlike the fake one that has no vagina. How many girl wear tight legging pants but it seems like that have no vaginal forms.
https://www.youtube.com/watch?v=b7OTkvp0EHU
eee on Tue, 9th Jan 2024 12:25 am
You see this is a Brazil beach. I looked at this and I said to myself, the fertily rate in Brazil must be high since women are walking almost naked.
https://www.youtube.com/watch?v=P2e1-4FHhdM
No Brazil has a exponentially decreasing birth rate.
www__macrotrends__net/countries/BRA/brazil/fertility-rate
Having women dress as fuck toy will not increase your fertility rate.
eee on Tue, 9th Jan 2024 12:29 am
my guess is that some of these beings are incapable of breeding. Thiers children are fake. Only real humans like me can have children, these beings are infertile. ee
MY most important comment ever on Tue, 9th Jan 2024 2:18 am
This might be my most important comment I have ever made. I am currently sitting on my toilet seat. Yes I am not joking. I am currently passing trough my asshole a big turd that make my asshole feel like I was ass fucked with a big strapon by a German dominatrix dress in black leather. Am I having prostate orgasm while I pass this big turd. Not yet but it might come later on.
eee on Tue, 9th Jan 2024 2:36 am
Oui, success, j’ai réussi à passer ma grosse merde. Malheureusement, je n’ai pas eu d’orgasmes de prostate. Je vais être obligé de me déplacer en Allemagne et me faire enculer pour une dominatrice Allemande avec de bottes de cuir si je veux avoir des orgasmes de prostate. Je pense que c’étai important que je partage ça avec la planète.
eee on Tue, 9th Jan 2024 7:07 am
I am getting more and more convince that you don’t need to eat food to stay alive. Food is a big lie and is there to scare you. You are scare of dying without food, so you will go work for money. Money is there to enslave you. Food is there to make of you a good slave. They need slave to extract natural resources for them and produce manufacturing goods for them.
eee on Tue, 9th Jan 2024 7:12 am
I think you only need water and a bit of salt. Water to hydrate your skin so it does not dry and crack,
eee on Tue, 9th Jan 2024 7:15 am
IF you have been created by GOD and under GOD protection you don’t need food. He will take of your body for you.
eee on Tue, 9th Jan 2024 7:25 am
IF you have been created by GOD and under GOD protection you don’t need food. He will take care of your body for you.
eee on Tue, 9th Jan 2024 7:32 am
A lot of food goes right trough you without being digested. Fish is not digested by the body, lettuce is not digested by your body, corn goes strait into the toilet bowl without being digested, you can see them in the toilet bowl, some are still yellow.
They need us to stay alive, not the other way around, We don’t need them to stay alive,
eee on Tue, 9th Jan 2024 7:59 am
They transfer their most important technological knowledge to us, like electricity, mechanics and electronics. We have what we need. We don’t need them anymore.