Thanks Cliff

We've been over all that stuff Razor is arguing. A dozen times or more.
Short response is the US produces about 15% of the worlds oil. The president can do stuff but as we saw here, oil companies make those decisions and oil production has continued to increase after it dropped due to the glut in 2020. Its now producing more oil than it did before it shut down.
OPEC and Russia combined controls well over half the worlds oil production and there just a couple heads can increase or decrease production by mandate.

The difference being free enterprise vs nationalized control including countries grouping together.
To think we are the trigger is foolish. OPEC has increased and decreased oil exports by millions of barrels a day to control oil by the direction of a few people. Here the government can't tell the oil companies to cut or increase production. Those decisions are made by a multitude of oil executives.

We've been over all that stuff Razor is arguing. A dozen times or more.
Short response is the US produces about 15% of the worlds oil. The president can do stuff but as we saw here, oil companies make those decisions and oil production has continued to increase after it dropped due to the glut in 2020. Its now producing more oil than it did before it shut down.
OPEC and Russia combined controls well over half the worlds oil production and there just a couple heads can increase or decrease production by mandate.

The difference being free enterprise vs nationalized control including countries grouping together.
To think we are the trigger is foolish. OPEC has increased and decreased oil exports by millions of barrels a day to control oil by the direction of a few people. Here the government can't tell the oil companies to cut or increase production. Those decisions are made by a multitude of oil executives.

Saudi Arabia, Russia and other members of the OPEC+ group of oil-producing countries have already pledged oil output cuts of about 5 million barrels per day (bpd), or about 5% of daily global demand, in a series of steps that started in late 2022.

The question, who has control?
You never hear that the US has decided to increase a million barrels more or reduce by a million barrels a day, ever. Thats because those decisions are made by private companies.
You hear it all the time from OPEC.


https://money.usnews.com/investing/...e-already-in-place-and-what-could-change
This from OPEC last November. You will never in your lifetime hear the US is cutting production by 5 million barrels a day. We are not nationalized.
Who has control of the oil supply?

In an amazing coincidence the release started as oil prices were hovering around $100 a barrel and were threatening to go higher due to Russia's oil and them invading Ukraine.

The oil left quicker than it was intended to. There was legislation already passed, as far back as 2015, that would lower the SPR to around 300m barrels by 2032. The money from the sales would be used to service the debt.

I don't see the need to refill it and in any case, when they do it will surely be for less than they got selling it.

Look Allison is trying to be an expert on oil


this ____ guy must work at Lowe's

We've been over all that stuff Razor is arguing. A dozen times or more.
Short response is the US produces about 15% of the worlds oil. The president can do stuff but as we saw here, oil companies make those decisions and oil production has continued to increase after it dropped due to the glut in 2020. Its now producing more oil than it did before it shut down.
OPEC and Russia combined controls well over half the worlds oil production and there just a couple heads can increase or decrease production by mandate.

The difference being free enterprise vs nationalized control including countries grouping together.
To think we are the trigger is foolish. OPEC has increased and decreased oil exports by millions of barrels a day to control oil by the direction of a few people. Here the government can't tell the oil companies to cut or increase production. Those decisions are made by a multitude of oil executives.

In an earlier post you said Biden released oil from the SPR because it was selling for close to $100 per barrel and he considered that an emergency. In other words, he did it to lower prices.

Now, in a roundabout way, you are implying that the President has virtually no control over oil and pump prices.

Which is it?

Boy
This is going to shake up the gang