Posted on Dec 9, 2024
US average gasoline price drops below $3 a gallon for the first time since 2021 — Reuters
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Or the record. It’s almost $2.00 around here
US average gasoline price drops below $3 a gallon for the first time since 2021 — Reuters
Posted from apple.newsPosted in these groups: 
Economy
Economy
Posted 1 d ago
Responses: 4
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Yippie!!!! not. The Biden administration has overseen the strategic oil reserves drop from a maximum capacity of 714 million barrels to less than 390 million barrels. This is nothing more than the results of Democrats efforts to "buy" November votes at the expense of our futures.
Fortunately, they were a dollar short and a day late. But just you wait, as the price of oil rises due to the need to replenish the strategic oil reserves (that the Democrats depleted) the democrats will scream to high heaven that it's all President Trump's fault.
Fortunately, they were a dollar short and a day late. But just you wait, as the price of oil rises due to the need to replenish the strategic oil reserves (that the Democrats depleted) the democrats will scream to high heaven that it's all President Trump's fault.
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MSgt Michael Bischoff
Pretty funny how some people think blame, yes the reserves are 390 millions and no one blames dumpy, it was Putins war that did it. Also the have already setup buy backs it will slowly rebuilt until some other nut case in the world decides to it needs to be in charge of
Supply and demand is driving prices currently,
Supply and demand is driving prices currently,
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Maj John Bell
MSgt Michael Bischoff - I will extend you the courtesy of refraining from irrelevant pejoratives about the democrat elite. I would appreciate the same from you. Polarizing language does nothing to build political consensus that moves the nation's interests forward.
Let's get back to the issue at hand:
In response to Russia' invasion of Ukraine, the Biden administration released 180 million barrels in the second quarter of 2022 to ease the global impact of embargos placed on Russia. That is the extent to which one can blame the Russian invasion for the drawdown.
The remainder of the drawdowns and the failure to replenish the strategic oil reserves directly correlates to the Biden administration's efforts to inflation. At first glance that sounds good, but the democrats' inflationary policies, in particular the "Inflation reduction Act," are the leading causes of that inflation. The Biden administration is caught between two opposing problems of its own creation
-Beat up in the polls over inflation, particularly energy costs
-Appeasing the "green" base with hostile fossil fuel policies.
They have chosen to thread the needle by depleting the strategic oil reserves. Why, because that is low visibility issue to most voters.
Let's get back to the issue at hand:
In response to Russia' invasion of Ukraine, the Biden administration released 180 million barrels in the second quarter of 2022 to ease the global impact of embargos placed on Russia. That is the extent to which one can blame the Russian invasion for the drawdown.
The remainder of the drawdowns and the failure to replenish the strategic oil reserves directly correlates to the Biden administration's efforts to inflation. At first glance that sounds good, but the democrats' inflationary policies, in particular the "Inflation reduction Act," are the leading causes of that inflation. The Biden administration is caught between two opposing problems of its own creation
-Beat up in the polls over inflation, particularly energy costs
-Appeasing the "green" base with hostile fossil fuel policies.
They have chosen to thread the needle by depleting the strategic oil reserves. Why, because that is low visibility issue to most voters.
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With the events in Syria I think one can expect this to reverse in the very near future. Historically, every time anything happens in that region, oil prices surge. I am surprised they have not yet but expect they soon will.
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Just drove from Kentucky to South Carolina then up to West Virginia, prices ranged from 2.35 up to 2.95
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