Biden done it

Biden done it

Postby Fraser921 » Tue Nov 23, 2021 7:47 am

Going to release 50 m. Get this we are lending 32 m of "our oil" to our partners so they can say they are helping with the "lent oil" which get this gets paid back in the future with the market in backwardation :lol:

News release on Holiday week with most traders gone. WTI down 10 cents. HAHAH and higher than last week.

In April 2020 Trump tried to buy crude for $25 a BBL and Democrats screamed that he was trying to help oil companies and thwarted the effort

Total insanity The operating premise is we will be awash in oil next year
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Re: Biden done it

Postby Fraser921 » Tue Nov 23, 2021 8:09 am

Exchange crude oil will be returned to the SPR in calendar years 2022, 2023, and 2024. . DEC 2024 is $ 13 cheaper so borrow and sell now and receive 76 and replace in 3 years at $ 63. NICE.
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Re: Biden done it

Postby dan_s » Tue Nov 23, 2021 9:17 am

Our Federal Government could make a lot of money by using the SPR. Fill it up when prices are low to stabilize the oil price to help US upstream companies and sell the oil when prices are high to help US consumers. Too simple of an idea for the idiots in Washington to understand.
Dan Steffens
Energy Prospectus Group
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Re: Biden done it

Postby Fraser921 » Tue Nov 23, 2021 9:21 am

CNBC saying crude down $10 from the highs , that's apparently the narrative with the current flacid energy policy. Mr. President, reopen Keystone if you are serious and build back better pipelines! >They wanted a 5 dollar decline and instead it goes up! Analyst's wanted to give him credit, so they are using the drop from $86 to present price.

Crude now up over $ 1 across the board! Every name in sweet 16 is in the green pre-market
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