When I fell out of bed this morning, I saw oil prices also fall out of bed ... down almost 30% to under $13 per barrel ... basically free. This, of course, would be a once-in-a-lifetime price for our government to be preparing ourselves for a future oil shortage ... by filling to the brim our Strategic Petroleum Reserve (SPR) ... a moveTrump has repeatedly vowed to make. Russia is filling its reserve. China is filling its reserve. So are we?
The huge drop in oil prices suggests we are not ... so I went searching for the truth ... and found it ... see: Roll Call Article.
Ta-da! Partisan politics ... namely the Schumer-Pelosi tag team who are like hogs at the trough when it comes to stimulus money. They want their piglets fed ... and screw the national interests. The news is that the Payroll Protection Program is soon to be funded by an additional $250 billion of small business funding PLUS about $100 billion of bribes to Democrats. Does this include any money for the SPR? This morning’s drop in oil prices is a hint at the answer.
I’m betting ... No!
2 comments:
https://www.thenewamerican.com/tech/energy/item/35139-trump-to-top-off-the-tank-by-replenishing-oil-reserves-while-prices-are-low
It seems that filling my swimming pool with oil might be a good speculative move. What with social distancing, the idea of having strangers get nearly naked and then rinse off in a common body of water is a turnoff.
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