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Likes: Free market buy and sell apparently you failed economics as wellOriginally Posted by Phil B.
What a Surprise China buys oil
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Free market buy and sell apparently you failed economics as well
What a Surprise China buys oil
The Pinocchio Test
This is an example of how simple facts — SPR oil was sold to a subsidiary of a Chinese company and Hunter Biden once has a business relationship with that company — are turned into something nefarious. The contract was awarded to the highest bidders in a competitively bid process and Hunter Biden was many steps removed from the U.S. trading arm of the Chinese firm.
OUR OIL RESERVES.
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...over 70% of the Strategic Petroleum Oil Reserve (SPR) made available for export went to Europe to support the Ukrainian war. China and several other countries got the remaining oil sold to the highest bidder. It is called capitalism and will will help restock the SPR in the future.
... I know facts are inconvenient for you. You are as bad as Sean Hannity on Fox for contorting the truth.
But it was not sold by DOE on the open market at market rates as authorized by the Naval Petroleum Production Act. If it had been it would stayed in the states where the reserve fields are located.
See the above post Stop Whining
Stop lying.
I was surprised to learn today that all of the shale oil that the USA produces is too light to be used in any US refineries. The US has to import 100% of a heavier grade oil from foreign sources to be used in it's refineries.
The idea that it is all of President Biden's fault that the USA is facing energy shortages and prices are too high and this would all be solved if only the US would drill for more oil is completely fake news.
Until the US builds new oil refineries, which seems unlikely, the USA will always remain the world's largest importer and exporter of oil.
The USA was the world's leading exporter of Liquid Natural gas (LNG) until two large recent explosions in the USA wiped out half of the countries producing capability.
I think the global economy is headed toward the entitled rich getting richer and the working class becoming extremely poor. Focusing on $5.00 gasoline may be selling ourselves short as everything is getting expensive beyond belief.
Could that be build back better?
When you think you have made a procedure idiot proof your company employs a better idiot.
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