Biden releasing one million barrels of oil per day to cool prices
www.aljazeera.com
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Barrels will come from US’s strategic petroleum reserve, as Russian invasion of Ukraine has sent prices skyrocketing.
@ziproot@lemmy.ml
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3Y

Alternate solution: stop relying on oil

Rapid climate change is continuing to get worse

If it gets to like $7/gallon I might have to take the bus that gets me to work late. Not really worth it till then

Ora
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13Y

I don’t really care why he’s doing it. This fulfills two goals for me.

  1. I stop hearing about gas prices from random dipshits who believe the 2020 gas prices had nothing to do with everyone staying home and just a virtue of who was in office.
  2. The less oil in reserves, the more pressure to do away with oil dependence which is what I want anyways

This is kinda what those reserves are for, isn’t it?

☆ Yσɠƚԋσʂ ☆
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03Y

If US admin had any brains at all then they wouldn’t be in this situation in the first place. It’s a problem of their own creation.

@crulife@lemmy.ml
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3Y

I don’t think this was created by Biden admin, more like Clinton, Madeleine Albright and the Bushes. Granted, he’s not exactly doing his best to defuse any of those peoples’ bad decisions (except for Afghanistan, although that was planned by Trump administration)

☆ Yσɠƚԋσʂ ☆
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03Y

Sure, the policy US has been pursuing since the 90s culminated in the crisis. However, it was Biden who started the economic war which the west was clearly unprepared for.

Peaceful countries usually are not prepared for war. That’s not a reason to not wage one when shit hits the fan.

☆ Yσɠƚԋσʂ ☆
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03Y

US is not a peaceful country, it’s been at war 225 out of 243 years of it’s existence. Meanwhile, US trying to wage an economic war they clearly didn’t prepare for is leading to predictable results now.

@crulife@lemmy.ml
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3Y

Do you think it would be better if they had prepared for it? Plus also: it’s not only the US who is doing this.

☆ Yσɠƚԋσʂ ☆
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-13Y

Being prepared is a prerequisite for making rational decisions. While it’s not only US that’s doing this, it’s pretty clear that US has been the main force behind this crisis and this article does a good job explaining the intent behind it.

“Biden releasing one million barrels of oil per day to cool prices to placate voters ahead of the midterms.”

Also to cash in on the high prices.

I’m no investment banker but it doesn’t take a genius to understand “buy low, sell high.”

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