Why did the "Big Guy" drain the SPR?

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dan_s
Posts: 34602
Joined: Fri Apr 23, 2010 8:22 am

Why did the "Big Guy" drain the SPR?

Post by dan_s »

Primary reason to buy votes in the mid-term elections, but China also loved it.

Biden’s SPR drawdown big win for Beijing. Forbes. Opinion.
"China is increasingly looking like the top beneficiary of President Joe Biden’s decision to sell down the Strategic Petroleum Reserve (SPR) to lower domestic fuel prices. Chinese-owned companies have lapped up oil from America’s emergency stockpile since the Biden administration decided to sell 180 million barrels last year to lower prices ahead of the midterm elections. The SPR, which has a capacity of around 700 million barrels, currently has about 372 million barrels stored in salt caverns along Texas and Louisiana Gulf Coasts. That’s down from 594 million barrels, or nearly 40 percent, from a year ago. The SPR was created to protect the United States from oil shortages and price spikes caused by supply disruptions, but Biden’s historic drawdown for political reasons sacrificed national energy security at a time when Russia’s war with Ukraine could have induced just that sort of supply emergency. And while congressional Democrats benefited at the polls from falling prices, the biggest winner may be our nation’s greatest adversary."
Dan Steffens
Energy Prospectus Group
Fraser921
Posts: 2996
Joined: Mon Mar 22, 2021 11:48 am

Re: Why did the "Big Guy" drain the SPR?

Post by Fraser921 »

China wanted some crude and the big guy owed them.

Bonus questions:

Why did the big guy charge his son 50k a month for a rental that zillow says should go for 3700?
Why did the big guy not disclosed what was going on when the illegal documents were discovered on 11/2?
aja57
Posts: 372
Joined: Sun May 29, 2022 10:35 pm

Re: Why did the "Big Guy" drain the SPR?

Post by aja57 »

The 50K was Hunter Biden's "business expenses" that was paid to Hunter by CEFC. It was 10% of the total 6 million and was laundered to Gropers as rental income for his glorious home.
Gropers did not disclose the classified documents on 11/2 because of the mid terms. The bigger question is why were his lawyers rummaging around his house. Answer: The classified documents were announced in Hunter's famous laptop in emails to various entities. So the DOJ gave Biden's lawyers a chance to fetch them rather than have a Trumpian assault on his palace.
dan_s
Posts: 34602
Joined: Fri Apr 23, 2010 8:22 am

Re: Why did the "Big Guy" drain the SPR?

Post by dan_s »

It is the double standard of justice that should anger all Americans the most.
Dan Steffens
Energy Prospectus Group
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