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Politics : Formerly About Advanced Micro Devices
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To: Brumar89 who wrote (1366319)7/12/2022 3:35:02 PM
From: Tenchusatsu  Read Replies (1) of 1578421
 
Wokemar,
But global oil prices were reduced by all those sales.
Wrong.

We released about 50M barrels of oil from the SPR, which is about 7% of the 700M (approx.) total. We might release another 40-50M.

The global consumption for oil is 95M barrels per day. Our recent release, which started at the beginning of this year, amounted to about half a day of global oil consumption. Over 180 days, that's about 0.2% of demand.

Like I said, drops in the bucket. PooTin did not lose one ruble from our release.

The only reason why oil prices are dropping now is because of recessionary concerns. Like I said before, the global economy cannot sustain high oil prices. People will cut back consumption. Governments will accelerate alternative energy programs. Producers will increase production.

Brandon continues to make stupid-ass decisions. He's risking our national security just to day-trade our STRATEGIC reserves.

Tenchusatsu
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