Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk -- Ignore unavailable to you. Want to Upgrade?

To: rdkflorida2 who wrote (179697)	9/19/2022 2:41:33 PM
From: the traveler	1 Recommendation Recommended By isopatch Respond to of 207798

fake news?

To: rdkflorida2 who wrote (179697)	9/19/2022 4:25:48 PM
From: the traveler	Read Replies (1) \| Respond to of 207798

You are right, well sorta. ~Here are the facts though in their proper order and context. Too bad the Dept. of Energy failed to do what Trump instructed them to do aintit? "Further, there was actually a net decline in the SPR when President Trump was in office. When he took office in January 2017, the SPR contained 695 million barrels. When he left office four years later, the SPR contained 638 million barrels. So not only is the claim of filling it untrue, but the level of the SPR actually declined while President Trump was in office. One thing President Trump did propose was to top off the SPR when the Covid-19 pandemic was crushing oil demand. In March 2020 President Trump directed the Department of Energy to “fill the Strategic Petroleum Reserve (SPR) to its maximum capacity by purchasing 77 million barrels of American-made crude oil.” That directive may be the source of President Trump’s confusion on the issue. However, 1). The directive was never carried out; and 2). The SPR was already within 13% of its highest-ever level when that directive was issued. So it’s not as if the SPR was empty at the time." https://www.forbes.com/sites/rrapier/2022/04/01/no-former-president-trump-did-not-fill-the-strategic-petroleum-reserve/?sh=a24c83068aee

To: rdkflorida2 who wrote (179697)	9/19/2022 5:26:44 PM
From: riptorn	Read Replies (1) \| Respond to of 207798

actually, your 'FACT' answer does bring up some more disturbing issues. Milley actively controlling, etc. Energy dept. 'governmenting' a Presidential request or worse ignoring. if a repub can ever get elected, some major agency audit/overviews need to occur. the difference between levels of SPR made by Forbes look to be accounted for on their own page(dept of energy) --- mainly to offset costs in different bills? Past Sales FY 2020 Mandated Sales: 9.85 million barrels FY 2019 SPR Modernization Sale: 4.2 million barrels FY 2019 Mandated Sales: 10.87 million barrels FY 2018 SPR Modernization Sale: 4.74 million barrels FY 2018 Mandated Sales: 14.17 million barrels FY 2017 Mandated Sales: 10 million barrels FY 2017 SPR Modernization Sale: 6.28 million barrels Mandated Sales Beginning in 2015, the debate over whether the SPR storage balance was too large given the evolving nature of U.S. oil production, consumption, and net imports resulted in Congress mandating the sale of SPR oil. The sales revenue accrued through SPR sales was allocated to a variety of uses; however, energy policy, or security, was not among them.13 The legislation that mandated SPR oil sales includes the Bipartisan Budget Act of 2015 (P.L. 114-74), the FAST Act of 2015 (P.L. 114-94), the 21st Century Cures Act of 2016 (114-255), the 2017 Tax Revision (P.L. 115-97), the Bipartisan Budget Act of 2018 (P.L. 115-123), the Consolidated Appropriations Act of 2018 (P.L. 115-141) and the America’s Water Infrastructure Act of 2018 (P.L. 115-270). Broadly considered, this legislation requires oil to be sold from the reserve over the period FY2017 through FY2027.