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42 sats \ 4 replies \ @Satosora 15 Jun \ on: Crude Oil is gearing up for a solid 2024 demand outlook with a supply deficit econ
Arent our oil reserves a bit low now? Biden did something lately with them, right?
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41 sats \ 3 replies \ @Coinsreporter OP 15 Jun
Yes, they are.
In 2022, the Biden administration sold 180 million barrels of oil from the Strategic Petroleum Reserve over 6 months. The sale lowered the SPR to its lowest levels in 40 years and was the largest ever release of oil from the SPR. SPR drawdowns continued into 2023, lowering the SPR by 45% from January 2021.
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32 sats \ 2 replies \ @Satosora 15 Jun
If biden doesnt make president again, he will be passing on that problem to the next guy...what a nice guy.
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31 sats \ 1 reply \ @Coinsreporter OP 15 Jun
Actually Biden is doing this in an false attempt to lower the prices. The supply deficit is big these days. But Biden's real intention was to impose the propoganda that Oil is not needed that much in USA in upcoming years. This can't be a reality not now, at least.
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11 sats \ 0 replies \ @Satosora 15 Jun
Yeah, he is working hard to create an image.
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