Gas prices are still high, diesel is at a record high, and the reserve has shrunk more than 30% in six months. While the reserve held around 415 million barrels of oil in February, it now holds less than 285 million barrels of oil — lower than it has been since the early 1980s.
These rapid drawdowns of oil threaten the salt caverns’ structure, says Samantha Gross, director of the energy security and climate initiative at the Brookings Institution, a nonpartisan policy think tank. As the reserves get lower and lower, the physical facilities can get degraded, Gross says: " You can damage them by pumping too much out of them."
yeah he pretty much does not care about prices after the election so they are pumping out as much as possible to keep prices from skyrocketing.
Prices have already skyrocketed. They’ve doubled since he took office.
thats with massive pumping from the reserves. The true height is at least double again.
When Trump took office this time around I was paying around $2.00 a gallon. Today it was 4.19. I don’t know if I can afford much more.
oh wow. I can’t remember the last time I saw two bucks a gallon. Im lucky though in that I have only begrudgingly had a car so don’t use a whole lot. like gas going up is such a drop in the bucket vs other things. I can’t not eat.
The farmer and trucker that feed you need diesel.
Every manufactured good you come in contact with has likely been transported on a truck at some point.
yeah that is what I mean by I can’t not eat. Food inflation has been plenty noticable.
“I don’t think about Americans’ financial situation. I don’t think about anybody" - Epstein Files star
I wonder why markets are betting against a new shortage tho.
USA has been at war or “conflicts, incursions” for all but a few years of their existence. That’s why.
The short answer is, it’s complicated. The long answer is that people are trying to build large net short positions while not spooking the bag holders.
So I watch broadcast tv and there are so many buy gold commercials which makes me wonder what they have up their sleeve for that.
Gold is money.
I would presume they are dumping their gold on the muppets