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No___ImRight t1_isxlxgx wrote

Reply to comment by JohnnyUtah_QB1 in Biden to release 15M barrels from oil reserve, more possible by cacarca

In March of 2008 we had 730 million barrels in reserve.

In March of 2020 (when we were talking about buying at $24/barrel) we were down to 640 million barrels.

We had room.

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baxterstate t1_isy2931 wrote

We desperately need to bring down the cost of oil to prevent Republicans from winning the midterms. Isn’t that enough of a crisis?

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JohnnyUtah_QB1 t1_isxn6l0 wrote

It wasn't needed. Obviously because even though we just heavily tapped it we had enough and still have plenty left, we didn't run dry.

We don't need to set our reserve policy based on what's best for the oil industry at that moment, that's beyond moronic. Likewise we don't need the government gambling on oil futures. That's the type of energy policy someone who comes up with the idea of injecting Lysol to cure Covid would come up with.

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