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Biden to Drain Strategic Oil Reserves to Fight Inflation


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Inflation as measured by PCE hit a fresh record in March which pushes the Fed even further into a bind as they need to fight inflation, especially given the jobs numbers right now. In a move to combat rising prices, Biden will be releasing 1 million barrels of oil per day from the strategic reserves. This put short term pressure on the price of oil but it is yet to be seen the long term impact.

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0:00 Intro
1:05 New Inflation Record
4:58 Oil Release
7:35 Unintended Consequences


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#oil #inflation #reserves

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23 Comments

  1. It doesn't take that much time. You would be surprised how fast things can move if the government would get out of the way.

  2. The video says about Biden draining the oil reserves to fight inflation, but what I wanted to ask about was this article saying that the US is actually importing Russian oil.

    https://www.youtube.com/watch?v=YuKZwOtTP_w

    Biden brings shame to the United States of America, once again

    This when combined suggests that on the one hand the oil reserves are being drained, but then it is also being replaced with Russian oil, all whilst the US is demanding that all countries cripple THEIR economies to sanction Russia.

  3. Many people don't understand how this actually costs us more money for gas. Yes, releasing oil now may lower gas prices but there is no free lunch. Whenever they refill the reserves and buy oil, that will force gas prices up. It will just be at a time when prices are lower so people don't notice – at least in theory.

    You would think this would be a zero sum game of dollar cost averaging. However, that ignores the transaction and storage costs of the reserve and the inefficient government management of such. This actually costs consumers more in the long run.

  4. The likelihood of war is nil. Empty the entire reserve. To be prepared is insane, wasteful and cowardly.

  5. Right on track… absolutely drain the US of any asset in order to crush any resistance to Agenda 2030.

    This is orchestrated and planned dismantling of a former leader. Dont for a second forget these facts. Things will make more sense when viewed through this lens.

  6. it's not to fight inflation , like the 2019 previous one ,under Trump , it's to provide some stuff at Cushing hub
    to avoid thousands of future contracts failing on the New York stock exchange , else there would have been blood all over the floor
    "Trump said oil would be released if needed to keep the market well supplied. "

  7. Information from a great source is all the best when it comes early too. The idea in this market is to understand the volatility of it and make great decisions base on your own profits while taking huge risks. I wish everyone in the stock market the best

  8. Draining the reserves will only make an emergency worse. This is Not an emergency except for Biden’s poll #’s

  9. Crypto currency and NFTs will outsmart the banking system in the nearest future serving as a global fiat. Already making over 85% profit from my current investment.

  10. When you say inflation hits like will Smith that makes me think that inflation doesn't exist..

  11. Hahahaha. Deplete our reserves in the time of a new war. Hahaha. Hopefully two more years of this.

  12. After this administration drains the reserves over the next six months then we are truly screwed. Unless they are all arrested.

  13. We are so deep in BS! Gaslighting the middle class into oblivion! Technology used to micromanage! Unearned income on wallstreet is so wrong!

  14. Drain "strategic" oil supply…. When the world is about to erupt into war??

  15. Biden is a fool. You cannot empty "emergency" oil reserves to lower gas prices only 5 cents for two days. That reserve is for the military in case of war. He is selling out america and its a national security matter. Do you feel safer now ?

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