It’s not at all clear if President Joe Biden’s latest announcement that he’s releasing oil from the nation’s emergency stockpile will help bring gas prices down. But the good news for drivers — and Biden — is that several factors are pointing to lower prices ahead at the pump. The national average stood at $3.85 a gallon Wednesday, down 2 cents from Tuesday and 7 cents in the last week.
Market confusion Oil and gas futures fell in Tuesday trading after word got out that Biden would announce the release of 15 million barrels of oil from the nation’s Strategic Petroleum Reserve. But that represented just another phase of the planned release of 180 million barrels over six months that was announced in late March. Oil analyst Andy Lipow said the markets initially moved due to confusion over whether or not more oil was coming out of the strategic reserve.
Then again, if you look at the profit these jerk oil companies are making, it’s literally thousands per minute per quarter. They could afford to sell it for MUCH less. Greed. Once again. Making America great right. Wrong. magaideology MAGA MagaExtremist
Not that I agree with it, but, the way of the world seems to be focusing on non-renewables. Even though we could power everything from the sun, if we had the infrastructure in place. It’s kinda crazy to think about. Dyson spheres are out, for now.Maybe keystone should have been..
Deputy Prime Minister Novak said that Moscow will not supply oil to countries using a price cap that seems to only be aimed at Russia. 'The price should be formed by the market method based on the balance of supply and demand.' OPEC+ appears to agree.
Nothing is Built, nothing is Back and nothing is Better. Everything Biden touches turns to shit.
Biden drew oil from the reserve for the last 5 months knowing his 6th month would be at the end of November. I guess he miscalculated.
Right so when they rise it’s Biden’s fault when they drop it’s not because of Biden 🙄🙄🙄
Aren’t those reserves important? Like, in case of a nuclear war?
Fact: We had cheaper gas prices under President Trump!
I 💘 President Biden!
Ugh, yeah ok CNN. We all know midterms are just around the corner. The biggest RED Wave is just around the corner too🇺🇸
He s trying to keep it from going up
Nice of to finally acknowledge POTUS has no clue what he is doing.
If you release oil, you can release everyone from student loans/debt. Want the housing market to improve? give us a chance to buy a house.
The main factor being the mid term election’s
Is this like the “inflation is transitory” phase?
🤣🤣
Biden is draining the SPR to record lowes putting the country in great danger! He’s a total disaster!
Mans pulling all the stops for midterms, now what are prices going to be when hes done caring nxt month?
United Nations break the silence! StopHazaraGenocide