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Trump is talking about Joe and Kamala draining the SPR
Posted on 8/8/24 at 4:50 pm
Posted on 8/8/24 at 4:50 pm
My question is on buying and restocking it back. Obviously a president can sell it as we saw with Biden/Harris, but what about buying it? Does Congress have to pass a bill to actually buy it back or can the president re-direct money from another area to restock the SPR back to sufficient levels?
1
Posted on 8/8/24 at 4:53 pm to FizzyPop
quote:
My question is on buying and restocking it back. Obviously a president can sell it as we saw with Biden/Harris, but what about buying it? Does Congress have to pass a bill to actually buy it back or can the president re-direct money from another area to restock the SPR back to sufficient levels?
Good question. I'm going to ask ChatGPT.
quote:
No, Congress does not need to pass a bill to refill the Strategic Petroleum Reserve (SPR). The Department of Energy (DOE) has the authority to manage the SPR, including refilling it, under existing laws. The DOE can decide to purchase oil to refill the reserve when it deems it appropriate based on market conditions, strategic needs, and available funding.
However, Congress does play a role in funding the SPR. It can influence the timing and scale of refilling through appropriations or by passing legislation that sets specific conditions or mandates for the management of the reserve. For instance, Congress could pass a bill that provides additional funding specifically for refilling the SPR or sets conditions on how and when it can be refilled.
But the actual decision and execution of refilling the SPR typically fall under the purview of the Executive Branch, specifically the Department of Energy.
Posted on 8/8/24 at 4:57 pm to GumboPot
Trump filled it up when oil hit bottom, but nobody remembers that.
Posted on 8/8/24 at 5:05 pm to SCwTiger
No he didn't?
He tried to buy 75 million barrels but the libs in congress rejected the $3 billion price tag and he ended up buying ~125k barrels as a trial purchase.
in fact, the SPR was ~50 million barrels lower in Jan 21 vs Jan 16
Thats not his fault, though. Congress mandated selling it at certain prices or something.
so its not his fault he didn't buy when it was low, like we should've, and its not his fault that it was lower when he left office than when he came in.
but theres no need to just lie about stuff
He tried to buy 75 million barrels but the libs in congress rejected the $3 billion price tag and he ended up buying ~125k barrels as a trial purchase.
in fact, the SPR was ~50 million barrels lower in Jan 21 vs Jan 16
Thats not his fault, though. Congress mandated selling it at certain prices or something.
so its not his fault he didn't buy when it was low, like we should've, and its not his fault that it was lower when he left office than when he came in.
but theres no need to just lie about stuff
Posted on 8/8/24 at 5:16 pm to SCwTiger
Nope, DJT didn't fill it up. The SPR has already started refilling with long track crude oil purchases.
The US crude oil international sales are soaring.
Nearly 3 million bbls per month every month have been purchased since Jan 2024 to present.
The US crude oil international sales are soaring.
Nearly 3 million bbls per month every month have been purchased since Jan 2024 to present.
Posted on 8/8/24 at 5:50 pm to kantwait
Thanks for ejucaten me.
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