Biden’s Energy Secretary Has No Idea How Much Oil Americans Need

[rogue06]

gaspricespres.jpg
Of course these clowns don't have a clue. This is the same group that mocked Trump over
improving the economy over Obama's anemic "new normal" asking if he had a magic wand

[Ronson]

Two and a half days, and this actually benefits China, according to one expert - I'll dig that up after coffee.

China, along with India, Britain and Japan, are also releasing oil reserves. I don't know how much.

[Cow Poke]

That's the same dip who laughed during an interview when asked if there were plans to start pumping more oil in the US and then claimed that OPEC has a monopoly, and there's nothing we can do about it.

'Would that I had the magic wand'- U.S. energy chief on oil output

WASHINGTON, Nov 5 (Reuters) - U.S. Energy Secretary Jennifer Granholm on Friday suggested that the Biden administration has little power to push the country's oil producers to boost output in an effort to lower rising fuel costs.

"Would that I had the magic wand on this," Granholm told Bloomberg TV, laughing in a response to a question on what her plan was to raise U.S. oil output. "That is hilarious," she added.

U.S. oil output is expected to fall 260,000 barrels per day (bpd) to about 11 million bpd in 2021 as production is slow to recover from the pandemic even as demand rises, the Energy Information Administration, an independent arm of the Department of Energy, said this month.

That output would be 60,000 bpd lower the EIA previously forecast. Output is expected to rebound in 2022 to 11.7 million bpd, but fall short of pre-pandemic record output of nearly 13 million bpd in November 2019.

Granholm said oil is a global market "controlled by a cartel, the cartel is called OPEC." President Joe Biden's administration has been pushing OPEC and its allies, known as OPEC+, to boost production so as not to impair the global economic recovery. But this week OPEC+ stuck to a plan to only raise output gradually, and Brent oil prices marched higher on Friday to nearly $83 a barrel.

[Cow Poke]

I seem to remember listening to someone the other day listing how much was being released compared to how much we consume per day and the amount old Joe released would cover two -- maybe three --- days.

Two and a half days, and this actually benefits China, according to one expert - I'll dig that up after coffee.

[Cow Poke]

Isn't this the same clown who let loose with a Kamala cackle when asked what old Joe was going to do about rising gas prices saying that was out of his control?

Yup - posted that in the thread from which this started.

[Cow Poke]

The answer is 18 million barrels, which exposes President Biden's move to release 50 million barrels from the Strategic Petroleum Reserve as a futile, political move.

Yes, it's a political move. Yes, it is a temporary solution to a larger, more critical problem.

But in all fairness, I don't believe the release of 50 million barrels is "futile." It is meant to offset domestic prices in the short term. Other presidents have done the same thing, and it does help in the short term. But Biden's overall trend hasn't gone away, and that is hostile to the oil industry.

But it was intended to relieve pressure in the US when things got heated in the Middle East --- not just because prices increased at home.

[Gondwanaland]

Because he appointed too many deep state jerks. Yeah, they knew their jobs because they've been entrenched forever, but their goals weren't necessarily in line with the average American. You've identified a perplexing problem: Experienced bureaucrats vs inexperienced outsiders. Not much of a choice.

Granholm has the added problems of being an idiot and arrogant at the same time.

I mean you don't even need an experienced bureaucrat here, just someone with a decent history in the energy sector and knowledge of it. Instead of a career lawyer-politician like this bimbo.

[rogue06]

But that's not the point. The reserve release isn't supposed to replace what we consume, rather to add more product to the marketplace so supply/demand takes effect and moves the price down.

But yeah, it is a Band Aid and not a solution.

Yup. Two or three days worth.

[Ronson]

Trump had a habit of appointing people who knew the job but would stab him in the back. Joe has a habit of appointing people who are loyal but don't have the first clue about the job to which they're appointed.

Because he appointed too many deep state jerks. Yeah, they knew their jobs because they've been entrenched forever, but their goals weren't necessarily in line with the average American. You've identified a perplexing problem: Experienced bureaucrats vs inexperienced outsiders. Not much of a choice.

Granholm has the added problems of being an idiot and arrogant at the same time.

[Mountain Man]

How in the world did she get that job? Or was it her gender that got her that job, given Biden's boasts? Another case of quota?

Trump had a habit of appointing people who knew the job but would stab him in the back. Joe has a habit of appointing people who are loyal but don't have the first clue about the job to which they're appointed.

[Mountain Man]

Biden’s Energy Secretary Has No Idea How Much Oil Americans Need

biden energy secretary doesn't know.jpg

Speaking to reporters at the White House Tuesday afternoon, Department of Energy Secretary Jennifer Granholm was asked how many barrels of oil Americans consume and need each day. She claimed she didn't have the answer.

https://twitter.com/i/status/1463243774860181520

The answer is 18 million barrels, which exposes President Biden's move to release 50 million barrels from the Strategic Petroleum Reserve as a futile, political move.

In recent weeks, Granholm laughed off riding energy prices and admitted during remarks this week that the United States is in the middle of a "transition" away from oil and gas, which is causing pain at the pump.

That's the same dip who laughed during an interview when asked if there were plans to start pumping more oil in the US and then claimed that OPEC has a monopoly, and there's nothing we can do about it.

[Ronson]

I seem to remember listening to someone the other day listing how much was being released compared to how much we consume per day and the amount old Joe released would cover two -- maybe three --- days.

But that's not the point. The reserve release isn't supposed to replace what we consume, rather to add more product to the marketplace so supply/demand takes effect and moves the price down.

But yeah, it is a Band Aid and not a solution.

[rogue06]

I don't believe so.

Looking back, I see that Trump, Obama, Bush and Clinton all released emergency oil reserves for various reasons. Clinton specifically did so to ease oil and gasoline prices. The end result was that it helped, but the length of time is debatable. Depending on the source, it was between 2 weeks and 6 months.

Also, this time it is in conjunction with China, India, South Korea, Japan and Britain, who are also releasing reserves.



Agreed. His Green policy is just another attack on the middle class. Elites can afford any prices, and the poor will probably get vouchers for public transportation.

I seem to remember listening to someone the other day listing how much was being released compared to how much we consume per day and the amount old Joe released would cover two -- maybe three --- days.

[Ronson]

FWIU, short term means about two days.

I don't believe so.

Looking back, I see that Trump, Obama, Bush and Clinton all released emergency oil reserves for various reasons. Clinton specifically did so to ease oil and gasoline prices. The end result was that it helped, but the length of time is debatable. Depending on the source, it was between 2 weeks and 6 months.

Also, this time it is in conjunction with China, India, South Korea, Japan and Britain, who are also releasing reserves.

Old Joe needs to start reversing his E.O.s that in a matter of months changed us from the world's largest energy exporter to scurrying about hat in hand begging OPEC to increase production.

Agreed. His Green policy is just another attack on the middle class. Elites can afford any prices, and the poor will probably get vouchers for public transportation.

[rogue06]

Does anybody HONESTLY believe that "Mayor Pete" got the job of Transportation Secretary because he was a genius at infrastructure? He's another example, having repeated the long disproven lie that roads are racist.

Buttigieg says America’s highways are racist and infrastructure bill will help fix it

He's another bloomin' idiot, but if you attack him, you're a homophobe!

Anyone else noticing that a bunch of new initiatives have been announced within a couple days of Buttigieg's return from maternity leave?