Peak Oil is You
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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 Tue, 9th Jan 2024 9:05 am
I changed my mind I dont want to receive a compensation for my work. If I receive no money for my work, I am under no obligation to perform or help planet earth. If I receive no money for my work I can abandon the world when ever I wants. Keep your money I will keep my freedom to be able to say to the whole world to go fuck yourself.
Keep your money, I will keep my freedom.
eee on Tue, 9th Jan 2024 9:09 am
Keep your fucking money for yourself. I will my freedom to the tell the whole world to go fuck itself.
eee on Tue, 9th Jan 2024 9:10 am
Keep your fucking money for yourself. I will keep my freedom to the tell the whole world to go fuck itself.
eee on Tue, 9th Jan 2024 9:17 am
Keep your money. This way I won’t feel guilty when I decide to kill everyone on planet earth.
eee on Tue, 9th Jan 2024 9:19 am
Keep your money. This way I won’t feel guilty when I decide to abandon this planet to its own fate.
eee on Tue, 9th Jan 2024 10:13 am
I will never forget Québec and Canada for making it illégal to conceal or open carry hand guns. I will never forgive Canada for that. I will never forgive Canada to steal right to carry an hand gun on me.
Keep your fucking money, so I can feel no guilt to tell all of you to go fuck yourself
eee on Tue, 9th Jan 2024 10:19 am
A guy like me that is fighting the deep state on the behalf of planet earth should be albe to carry an hand gun for personal protection without having to beg and demand the permission to carry an conceal hand gun.
I will make you pay for all you did to me.
eee on Tue, 9th Jan 2024 10:29 am
Fuck I hate Québec and Canada. Both are always ass fucking me at every turn they can. See comments above.
eee on Tue, 9th Jan 2024 10:50 am
IF you give me eternal life, I will kill bare handed everyone on planet earth starting with Québec and Canada. Make sure you know what you are doing.
eee on Tue, 9th Jan 2024 11:21 am
I know that the whole planet earth is reading my comments. The fact that Canada refuses to change the hand guns laws to accommodate me proves to me that you are my ennemis. Same with Québec. This proves to me that Canada and Québec are happy to oppress me until my death.
eee on Tue, 9th Jan 2024 11:25 am
I know that the whole planet earth is reading my comments. If I have not offer my self to become the leader of the world prove to the whole world that I my intends are to destroy and kill everyone on planets earth. If I wanted to save planet earth, I would have try to contact some people. I did not contact anybody because I my intends are to kill everyone living on planet earth.
eee on Tue, 9th Jan 2024 11:44 am
I know that Trudeau and Legault are just puppet. I know you are capable of changing the hand gun law tomorrows if you really wanted. I know you control everything fucking bitch. It is not because we have sex that I love you. I do sex so you leave alone, not because I love whore. You are my fucking enemy bitch.
eee on Tue, 9th Jan 2024 11:53 am
I know that Trudeau and Legault are just puppet. I know you are capable of changing the hand gun laws tomorrow if you really wanted. I know you control everything fucking bitch. It is not because we have sex that I love you. I do sex so you leave me alone, not because I love you whore. You are my fucking enemy bitch. We will have to fight this one, one on one bitch either on earth or outside of earth.
eee on Tue, 9th Jan 2024 11:58 am
You are my fucking enemy bitch. We will have to fight this one, one on one bitch either on earth or outside of earth. We will have to fight together until one of us is dead fucking whore. We could do it outside of earth, anytime whore.
eee on Tue, 9th Jan 2024 12:08 pm
We don’t work for the same team fucking whore. You want to save planet earth by stopping immigration, me I want to kill everyone living on earth, bitch, including you. We are not on the same team fucking whore.
eee on Tue, 9th Jan 2024 12:44 pm
When you looked at it, the long neck and the face moved forward make humans better looking. It is an improvement compare to the old version. Sometime you try to destroy and end up building something better.
https://www.youtube.com/watch?v=LMrBx7p7in4
eee on Tue, 9th Jan 2024 1:06 pm
The body hair has to go, except for the head. Beard has to go also.
eee on Tue, 9th Jan 2024 1:13 pm
The body hair has to go. Remove all the body hair except the head, it is not the same thing, it looks more finish and more human. Body should be for animal only.
eee on Tue, 9th Jan 2024 1:21 pm
The bitch vagina is too slack, ugly and smelly. Need something better looking and tighter.
eee on Tue, 9th Jan 2024 1:49 pm
We need two type of female and breeder and a fuck toy. The fuck toy female cannot give birth and has a special interior muscle extremally strong that can lock your penis in there.
The breeder look like the actual female we have now with smelly slack and discussing vagina.
THe fuck toy has the pretty vagina and the breeder has the ugly vagina.
eee on Tue, 9th Jan 2024 1:53 pm
From my point of view, the actual human female is a crappy fuck toy.
A king deserver a real fuck toy, made for pleasure.
eee on Tue, 9th Jan 2024 2:15 pm
I am the only one leaving. All the rest of you stay here and die. You don’t have the credential to leave earth. Don’t get to excited when you read my comments.
eee on Tue, 9th Jan 2024 2:21 pm
I need to design myself a female fuck toy. Not a crappy bitch with a smelly, slack and ugly looking vagina. I need a real flesh fuck.
After that I will design my jews torture chamber. I will use the German flag as a fence to stop the jews from leaving the torture area.
eee on Tue, 9th Jan 2024 2:39 pm
I need to design myself a female fuck toy. Not a crappy bitch with a smelly, slack and ugly looking vagina. I need a real flesh fuck.
After that I will design my jews torture chamber. I will use the German flag as a fence to stop the jews from leaving the torture area. German war helmet will be put on the top of the posts to scare the Jews away from the fence so they don’t leave their torture chamber.
eee on Tue, 9th Jan 2024 2:43 pm
I will never forget that Québec and Canada let me down and unarmed while I was fighting the deep state. I will never forget how Québec and Canada left me personal protection because of Canada hand guns laws. I will always see both as my ennemis
eee on Tue, 9th Jan 2024 2:46 pm
I will never forget that Québec and Canada let me down and unarmed while I was fighting the deep state. I will never forget how Québec and Canada left me without personal protection because of Canada hand guns laws. I will always see both as my ennemis.
eee on Wed, 10th Jan 2024 12:33 am
Let’s me guess fucking pieces of trash. You are running out of Jet fuel/Kerosene. Instead of telling the truth, you came up with this Alaska airplane incident to scare people away from flying. Still not able to tell the truth about anything fucking piece of shit.
Only good at abusing people like for your personal gain. Canada and Québec fuck me over with hand gun law, I will never forget that.
Let’s me guess fucking trash, this is how you will mamnagte pêak oil, one scary story after another.
You are really mentally retarded. Still cannot tell the truth about anything.
I don’t want money, I want my freedom to see the whole population of earth die without guilt.
eee on Wed, 10th Jan 2024 12:43 am
I am not coming to save earth. not after what Canada and Québec did to me.
eee on Wed, 10th Jan 2024 12:48 am
Let’s see if I can get shit straight, the oil extracted does not product as much jet fuel and Kerosene as before. I saw the Kerosene disappears from WalMart and CanadianTire about 2 years ago.
So this is how you will manage the planet, one scary story after another. This is your management technic for the whole earth, one scary store after another. Telling the truth is not part of your option to manage planet earth, only lying like a good Jews. This is why you like the Jews, they have no morality and love to lie and manipulate.
eee on Wed, 10th Jan 2024 12:52 am
The bible revelation 18 is right in the description of the population living on earth:
“‘Fallen! Fallen is Babylon the Great!’[a]
She has become a dwelling for demons
and a haunt for every impure spirit,
a haunt for every unclean bird,
a haunt for every unclean and detestable animal.
What is a detestable animal. Someone that likes to lie and manipulate.
eee on Wed, 10th Jan 2024 12:54 am
Nobody is coming to save earth. As that before, you are here because you are an unclean and detestable animal. You are here for execution. You are not leaving and you cannot change earth calculators to gain a bit more.
eee on Wed, 10th Jan 2024 1:29 am
I hate you fucking bitch for having drag me into this. This will be settled between both of us in private until we are either both dead or one of us is dead.
eee on Wed, 10th Jan 2024 1:34 am
I will repeat that fucking whore, we are not working for the same team. I am not here to save planet earth like you are trying to do, my goal is to kill everyone on planet earth just to back at you whore.
eee on Wed, 10th Jan 2024 1:36 am
my goal is to kill everyone on planet earth just to GET back at you whore. Make sure you understand that fucking whjore.é
Dredd on Wed, 10th Jan 2024 5:50 am
Trump slithered out of the courtroom yesterday, flew to his Florida hideout, and put security walls etc. up to protect him from President Biden. This was because Trump’s lawyer in effect argued to the Federal Appeals Court For the District of Columbia that President Biden could appoint Hunter to Seal Team Six and have that team then murder The Donald. And Trump’s lawyer further argued that if the Democratically Led Senate did not convict him in an impeachment proceeding, then President Biden could not be prosecuted for murder.
Dredd on Wed, 10th Jan 2024 5:53 am
“Einstein passed this way about an hour ago
with his friend a jealous monk
then went off sniffing drainpipes
and reciting the alphabet” – Dylan (Desolation Row)
The Advent Of The Psychons
eee on Wed, 10th Jan 2024 9:19 am
I am not coming to save planet. If I wanted to help planet earth, I would have contact certain people. I did not contact anybody. I have no intentions of helping not after what Québec and Canada did with hand gun laws. I am not coming but I will do best I can to ensure that everyone on planet earth die.
why elite whitey supertard Elon lies so much when elite whitey supertard Newton published 1st LAW we have spacecraft and exhaust gas pushes against each in vacuum taken as a whole both physical frame and exhaust entity only elongates on Wed, 10th Jan 2024 9:35 am
On This Day…
Jan 10, 2015: Tripoli, Lebanon
Two suicide bombers detonate in a crowded café: 9 Killed
only elite master race chink supertards can handle supremacist muzzies
clean up the place of filthy 7th century animals and turn it into a beautiful tourist destination
The rebranding of Xinjiang
CBS News on MSN.com|2 days ago
CBS News gets a rare glimpse inside Western China’s vast and beautiful Xinjiang region, which became notorious for the government’s horrific crackdown on its Muslim Uyghur population – and which is now being rebranded as a tourist attraction.
On This Day… Jan 10, 2015: Tripoli, Lebanon Two suicide bombers detonate in a crowded café: 9 Killed on Wed, 10th Jan 2024 9:36 am
Tại sao Elite Whitey Supertard Elon nằm rất nhiều khi Elite Whitey Supertard Newton xuất bản Luật thứ nhất Chúng ta có tàu vũ trụ và khí thải chống lại mỗi người trong khoảng trống được thực hiện cả khung và thực thể khí thải chỉ kéo dài
pretty much all elite chef supertards MUZZ-19 themselves with reckless abandonment PROMPTLY LEFT FOR SAINT PETERS PROBLEM REACTION SOLUTION on Wed, 10th Jan 2024 10:07 am
problem convid-19
reaction fear no eating out with MUZZ-19
solution MUZZ-19 elite chef supertards set examples
result PROMPTLY WENT TO SAINT PETERS
why elite whitey supertard Elon lies so much when elite whitey supertard Newton published 1st LAW we have spacecraft and exhaust gas pushes against each in vacuum taken as a whole both physical frame and exhaust entity only elongates on Wed, 10th Jan 2024 10:09 am
On This Day…
2020.01.10 India Poonch 2 0 Pakistani radicals cross the border and murder two unarmed citizens, one by beheading.
eee on Wed, 10th Jan 2024 12:13 pm
There is some people who think they will crash the financial and dismantle everything including financial system, globalism, international treaties, in other crap and a savior will come to rebuild everything from the ground up.
You are making a mistake to assume that a savior will come to save planet earth or rebuild planet earth after a total collapse.
You are earth because you have been schedule for execution. Only certain people will leave.
I am not going to be your savior in a anyway, shape or form after Canada and Québec fuck me over with their extremely restrictive hand gun laws. I can guarantee to all of you that I will not come to save the world, or Québec or Canada. Not after fucking me like that.
You are on your own. Earth is a prison for losers that don’t have the credentials to leave earth.
eee on Wed, 10th Jan 2024 12:37 pm
There is some people who think they will crash the financial and dismantle everything including financial system, globalism, international treaties, in other crap and a savior will come to rebuild everything from the ground up.
You are making a mistake to assume that a savior will come to save planet earth or rebuild planet earth after a total collapse.
You are earth because you have been schedule for execution. Only certain people will leave.
I am not going to be your savior in a anyway, shape or form after Canada and Québec fuck me over with their extremely restrictive hand gun laws. I can guarantee to all of you that I will not come to save the world, or Québec or Canada. Not after fucking me like that.
You are on your own. Earth is a prison for losers that don’t have the credentials to leave earth.
————————————–
You are really mistaken if you think we will use earth as a platform to build something new and you will be keep alive to witness the creation of a new reality. Earth is 100% mentally retarded and we wants nothing to do with any of you.
i appoint supertard eee supertard his title is 'the lover' of supremaicst muzzies on Wed, 10th Jan 2024 12:43 pm
why elite whitey supertard Elon lies so much when elite whitey supertard Newton published 1st LAW we have spacecraft and exhaust gas pushes against each in vacuum taken as a whole both physical frame and exhaust entity only elongates
On This Day…
Jan 10, 2015: Tripoli, Lebanon
Two suicide bombers detonate in a crowded café: 9 Killed
only elite master race chink supertards can handle supremacist muzzies
clean up the place of filthy 7th century animals and turn it into a beautiful tourist destination
The rebranding of Xinjiang
CBS News on MSN.com|2 days ago
CBS News gets a rare glimpse inside Western China’s vast and beautiful Xinjiang region, which became notorious for the government’s horrific crackdown on its Muslim Uyghur population – and which is now being rebranded as a tourist attraction.
im just a tard and a fmr-paultard on Wed, 10th Jan 2024 12:44 pm
i appoint supertard eee supertard his title is ‘the lover’ of supremaicst muzzies
why elite whitey supertard Elon lies when elite whitey supertard Newton published 1st LAW we have spacecraft and exhaust gas pushes against each in vacuum taken as a whole both physical frame and exhaust entity only elongates on Wed, 10th Jan 2024 12:48 pm
Зашто је Елитна Вхитеи СуперТард Елон толико лежи када је Елите Вхитеи СуперТард Невтон објавио 1. закон, имамо свемирске летелице и исцрпљене гасове гузичара против сваког у вакууму узимајући само физички оквир и само издужје само издужби
eee on Wed, 10th Jan 2024 1:15 pm
I will tell you why I will never come to save Québec and Canada. The White women control the whole nation. You need your wife and girl friends approval before you can purchase a gun in canada. If she does not approve you get no Guns. Canada is basically control by women for the benefit of women. Youd can never please a women, they are never happy. This is why earth will not be used as a platform to create a new reality. the human female is mentally retarded.
rcmp__ca/en/firearms/apply-firearms-licence
You need the permissioni of female in Canada to have a gun
If you are applying as an adult (aged 18 and over) you must:
have valid email addresses for your:
2 references
photo guarantor
current conjugal partner (if applicable)
former conjugal partner (if applicable)
eee on Wed, 10th Jan 2024 1:19 pm
There is no turning regarding planet earth. It will be destroyed and we will move to something else.
eee on Wed, 10th Jan 2024 1:31 pm
I still canot believe that planet earth is worshipping something like a women. She is basically mentally retarded. Whited nations are worshipping a female creature that is basically mentally retarded. There is no future when you worship something that is mentally retarded. Nobody is coming to save earth. We will move to something else. I am in favor of abandoning sexual reproduction for something better.
I don’t expect Canada and Québec to do anything regarding guns laws. I expect them to make it worse and completely piss off the few masculin man left.
eee on Wed, 10th Jan 2024 1:43 pm
What I just said above, the invisible knows all about it. In fact it is the invisible that is terminating the earth project. The invisible world know that earth cannot be used as a platform to build something else. The invisible world knows that women are mentally retarded. We moving to something else. Only the people that will leave earth will live.
Earth project is being terminated by the invisible world